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Litecoin.com – Individuals

Your Money

Litecoin (LTC) is decentralised money, free from censorship and open to all. Send low cost private, secure, borderless payments to anyone, anytime, anywhere.

The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing and tracasting billions of dollars of value.

Theres no approval needed to join the new age of money. Download your free wallet to join and invest in the future of finance.

Litecoin development pioneers technologies including Lightning for instant global settlement of funds and Atomic Swaps for cross blockchain trustless trading.

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Litecoin.com – Individuals

Litecoin – Wikipedia

Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee and former Engineering Director at Coinbase.[3][4][5] The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.[6]

Litecoin reached a $1 billion market capitalization in November 2013.[7]

In May 2017, Litecoin became the first of the top 5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zrich to San Francisco in under one second.

Litecoin is different in some ways from Bitcoin.

Due to Litecoin’s use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.[9]

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Litecoin – Wikipedia

Litecoin (LTC) price: News & Live Chart – Trading Analysis …

What is Litecoin (LTC)?

Litecoin is a digital currency, abbreviated as LTC, distributed in a decentralized network and is one of the world’s largest cryptocurrencies. Litecoin launched in October, 2011 as a direct derivative of Bitcoin and its blockchain. Litecoin offered a key advantage over Bitcoin in the form of faster transactions and thus higher potential liquidity-ultimately resulting in lower transaction costs.

Litecoin was the first of the top 5 cryptocurrencies in market capitalization to implement the Segregated Witness transaction format. Also known as SegWit, the new protocol allowed for potential speed and security improvements on the original Litecoin software and enabled the use of the so-called Lightning Network. Here the purpose of the secondary network is to enable faster off-blockchain transactions which are ultimately aggregated and broadcast to the blockchain itself.

The development and performance of Litecoin has tracked Bitcoin, and therefore has quickly become the world’s second-largest cryptocurrency in terms of total market capitalization.

In the future we expect Litecoin to track the trajectory of other major cryptocurrencies quite closely. Where it stands to gain is as a more technologically-advanced version of Bitcoin. And indeed price of LTC has thus far outperformed BTC since Litecoin adopted SegWit in May, 2017.

You can track Litecoin prices on our currency chart, and read all the latest Litecoin news and analysis to support your cryptocurrency day trading.

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Litecoin (LTC) price: News & Live Chart – Trading Analysis …

Litecoin – Wikipedia

Litecoin

Official Litecoin logo

Litecoin (LTC or ) is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.[2] Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011.[3] In technical details, litecoin is nearly identical to Bitcoin.

Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee and former Engineering Director at Coinbase.[3][4][5] The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.[6]

Litecoin reached a $1 billion market capitalization in November 2013.[7]

In May 2017, Litecoin became the first of the top 5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zrich to San Francisco in under one second.

Litecoin is different in some ways from Bitcoin.

Due to Litecoin’s use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.[9]

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Litecoin – Wikipedia

Litecoin.com – Individuals

Your Money

Litecoin (LTC) is decentralised money, free from censorship and open to all. Send low cost private, secure, borderless payments to anyone, anytime, anywhere.

The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing and tracasting billions of dollars of value.

Theres no approval needed to join the new age of money. Download your free wallet to join and invest in the future of finance.

Litecoin development pioneers technologies including Lightning for instant global settlement of funds and Atomic Swaps for cross blockchain trustless trading.

Read the original post:

Litecoin.com – Individuals

Litecoin.com – Individuals

Your Money

Litecoin (LTC) is decentralised money, free from censorship and open to all. Send low cost private, secure, borderless payments to anyone, anytime, anywhere.

The Litecoin blockchain is the largest global scrypt based network, operating with 100% uptime since 2011 securing and tracasting billions of dollars of value.

Theres no approval needed to join the new age of money. Download your free wallet to join and invest in the future of finance.

Litecoin development pioneers technologies including Lightning for instant global settlement of funds and Atomic Swaps for cross blockchain trustless trading.

Read the original here:

Litecoin.com – Individuals

Litecoin – Wikipedia

Litecoin

Official Litecoin logo

Litecoin (LTC or ) is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.[2] Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011.[3] In technical details, litecoin is nearly identical to Bitcoin.

Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee and former Engineering Director at Coinbase.[3][4][5] The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.[6]

Litecoin reached a $1 billion market capitalization in November 2013.[7]

In May 2017, Litecoin became the first of the top 5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zrich to San Francisco in under one second.

Litecoin is different in some ways from Bitcoin.

Due to Litecoin’s use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.[9]

More here:

Litecoin – Wikipedia

What Is Litecoin (LTC)? | The Silver to Bitcoin’s Gold …

What Is Litecoin?

Litecoin (LTC) is a decentralized peer-to-peer cryptocurrency that was released on October 7th, 2011, and went live on October 13th, 2011.

The silver to Bitcoins gold.Bitcoins little brother that doesnt get out much.

These are just a few of the things you might hear getting tossed around when crypto enthusiasts talk about Litecoin. At first glance, Litecoin doesnt garner much respect as a top 10 market cap cryptocurrency.However, once you get into the weeds, Litecoin presents an extremely useful and interesting application of the original Bitcoin blockchain. For all the flak Litecoin gets, its easy to overlook what it actually is, and what functions it serves.

In this guide, well cover the following sections of the project. Skip to a particular one if you prefer to get straight to it:

Former Google employee Charlie Lee founded Litecoin. It was one of the first forks of the Bitcoin core client. It was proposed as a solution to some of the bottlenecks and scalability issues with Bitcoin, most notably the number of transactions that could be processed within a given time frame.The edge Litecoin has over Bitcoin is that the payment transaction costs are extremely low, and it is capable of facilitating payments around four times as fast.

Theres a reason Litecoin receives a lot of comparisons to Bitcoin. Except for a handful of minor distinctions, Litecoin serves the exact same purpose as Bitcoin. After all, it was one of the first Bitcoin forks.

Litecoin was one of the first Bitcoin forks.

Comparing Litecoin to Bitcoin not only makes sense from a convenience point of view, but it also lets us zone in what makes it different at a technological level. Litecoin is meant to be used as a peer-to-peer cryptocurrency. It is actually able to accomplish the same job Bitcoin does at a faster and cheaper rate.

Transaction confirmation speeds play a huge role in how quickly a currency gets adopted. Bitcoin confirmations usually take around ten minutes with periods as high as 2,548 minutes. Litecoins network is able to confirm transactions at a much quicker rate.

Litecoins verification period lasts a fixed 2.5 minutes. For every individual Bitcoin block that gets confirmed, four Litecoin blocks of equal size get confirmed.

The cost of sending any denomination of LTCcosts around $0.02, whereas Bitcoin currently hovers around $0.35. The costs are all but negligible currently, however, during peak traffic, Bitcoin transaction costs appear to rise quite dramatically. This is an immediate advantage for small transactions since splitting a $10 Uber with a friend doesnt make sense for most people if you have to pay $5.00 on top of that. Litecoin offers the option to pay for everyday goods without high fees that start to add up very quickly.

One of Litecoins goals is to distribute hash power more evenly than Bitcoins network. This includes mining pools, mining groups, and a much smaller (and less decentralized) subset of miners. Litecoin aims to keep the hashing power decentralized.

Litecoins mining also keeps transaction fees relatively low due to the inherently higher total supply. There can only be 21 million Bitcoins in existence, whereas there can be up to 84 million Litecoins. This matters because it makes mining less competitive, and the more competitive mining gets, the higher the transaction fees.

While Bitcoin is dealing with some serious scalability issues due to its high transaction fees, Litecoin, in theory, is able to churn out block after block and retain its lower transaction costs. Granted, not as many people are using Litecoin as they are Bitcoin and could theoretically end up dealing with the same scalability issues if it were to experience similar growth and usage, but that simply just isnt the case yet.

Litecoin also uses the Scrypt hashing algorithm that utilizes much less processing power than the Bitcoin SHA-256 hashing algorithm. Placing a higher emphasis on utilizing high-speed RAM, Litecoin makes it much less possible for a single player (or small collective group of big players) to dominate the mining world.

Its important to look at the differences in how both Bitcoin and Litecoin came about. The origins of Bitcoins founder are relatively shrouded in mystery. Satoshi Nakamoto (the pseudonym of Bitcoins founder) is essentially relegated to legend and myth.

Litecoins founder, on the other hand, has been publicly available and active in the community. You can find Charlie Lee on Linkedin or on Twitter, as @SatoshiLite. After working at Google and founding Litecoin, he also worked on the engineering side at Coinbase, one of the largest cryptocurrency exchanges in the world.

Lee appears to have an accessible and open nature compared to the mysterious secretive Satoshi. The fact that Lee is capable of making light (Lite) of the situation is very humanizing. Additionally, youd be hard pressed to find any serious claims or illusions of grandeur within the Litecoin camp. Its meant to make cryptocurrency accessible and usable for everyone and is perfectly fine with taking a back-seat role to Bitcoin.

The fact that Litecoin can hold its own weight when it comes to having a legitimate use case says a lot, especially in a cryptocurrency world with over 700+ alt-coins with dubious purposes. It does, after all, hold a market cap of upwards of $1.8 billion. That doesnt just happen by dumb luck.

However, to be fair, users havent pushed Litecoin to its limits because there simply arent that many people using it. For the time being, Litecoin does exactly what it was created to do: offer low-cost, speedy transactions in a way that Bitcoin couldnt.

When compared to Bitcoin, which has a market cap about 33x bigger, Litecoin does pose several advantages. As listed above, its capable of offering users lower transaction fees, faster transaction processing times, a more decentralized mining network, and its founder even throws out the occasional zinger on Twitter. These advantages technically make Litecoin a better coin for the vast majority of small transactions.

Litecoin originally started gathering attention during its explosive growth in November 2013, where it saw a near 15x spike in price. This jump in price, however, was short-lived and Litecoin hovered around the $4 per LTC range for about two years. It wasnt until May 2017 that it started to pick up steam again during a time where generally all cryptocurrencies experienced massive growth.

The price topped out at around $350 at the end of 2017and the range-bound process seems to be playing out again. If history is anything to go by we may see prices dwindle for a year or two before the bulls return.

Litecoin has also been relatively innovative, adopting new technologies such as Segregated Witness and carrying out the first Lightning Network transaction that sent 0.00000001 LTC from Zurich, Switzerland to San Francisco, the USA in under a single second.

On a more controversial note, Charlie Lee reported that he sold all of his Litecoin holdings at the end of 2017. At the time, some community members had questioned his commitment to the project. This move was either pure genius or dumb luck from a trading perspective considering he timed the market to almost perfection. Smart investors may want to pay attention if he ever decides to buy back in.

Exchanges both large and small sell Litecoin so you shouldnt have any problems picking up some. It is particularly popular in Asia on exchanges like OKEx, Bibox, and Huobi. If youre looking for something a little closer to home you can grab some on Bittrex or Coinbase.

Because of the wider adoption of LTC, there are quite a few ways to store it. If you are storing a large amount your best bet is always to go with a hardware wallet like a Ledger Nano S or Trezor. If you plan to trade it regularly and/or use it on a daily basis there are some more convenient options. You could go with the official desktop wallet for Windows, Mac, and Linux.

If youre on the go youll probably want something more mobile like the Jaxx wallet or LoafWallet. Keep in mind that many exchanges provide mobile wallets, though you dont actually hold your own private keys.

LTC is simply another cryptocurrency that just so happens to prove its use-case as a low-cost decentralized peer-to-peer payment method.

It was never made to go head to head with Bitcoin but its technological advantages do pose somewhat of a threat. While it might be theoretically better than Bitcoin, Bitcoin has already run off with the network effect of rapid onboarding a much larger and active user base.

Bitcoin also has the benefit of being a near household name by now, whereas Litecoin is much more obscure (especially as new tokens get added to the space regularly). The vast majority of people who jump into the cryptocurrency world will buy Bitcoin first. If their hunger isnt satiated theymay also grabsome Litecoin and Ethereum too.

While it seems to function very well for what its meant for, its interesting to consider situations where it could experience massive user adoption and growth. There isnt much meat on the bones of whatever loyalists are chewing on, but its worth noting that it could only be a matter of time before more people start to add Litecoin into their portfolios.

If, and this is a big IF, Bitcoin isnt able to address its scalability issues, Litecoin will be there to at least offer the same utility without having to pay high (and if Bitcoin reaches the climax of its scalability problems extremely high) fees.

Until then, Litecoin will likely hang around the top ten market-cap cryptocurrencies, doing the same thing it always has.

Editors Note: Ryan Smith updated this article on 19 December 2018 to reflect the recent changes of the project.

You can find more info on the coin, the team, and the project on the following channels:

Related

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What Is Litecoin (LTC)? | The Silver to Bitcoin’s Gold …

Litecoin r/litecoin – reddit

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(Re-post of u/Sparkswont cuz it was archived)

Whether you’re new to cryptocurrency and have no clue what a ‘litecoin’ is, or a seasoned investor in cryptocurrencies, the resources below will answer all your questions. If you still have questions, feel free to ask below in the comments!

Litecoin (LTC or ) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Litecoin is one of the largest, oldest, and most used cryptocurrencies in the world. Similar to Bitcoin, Litecoin uses blockchain technology to process transactions.

So what’s the difference? To process a block, Litecoin takes 2.5 minutes rather than Bitcoins 10 minutes. This allows for faster processing times. Litecoin also has the capability to produce a total of 84 million units, compared to Bitcoins 21 million. In addition, Litecoin uses scrypt in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.

Still confused? Take a look at this video!

There are many websites and applications where you can buy and sell Litecoin, but make sure the exchange you are using is trusted and secure. Here are some exchanges that are trusted in the cryptocurrency community:

Litecoin (and other cryptocurrencies) is stored in a digital wallet. When storing Litecoin, you want to make sure you trust the place you store them. This is why it is best to store them yourself through the electrum wallet. It is highly suggested to not store your Litecoin in an exchange (such as Coinbase, Poloniex, Bittrex, etc.) because you don’t control the private keys. If the exchange ever goes offline, or becomes insolvent, your Litecoin essentially disappear.

Some other options are:

If you’re a fan of mobile devices, then Loafwallet is the wallet for you. Developed by a Litecoin Foundation Dev, /u/losh11, this mobile wallet works great! And remember to always make sure to write down your seedkeys.

Hardware wallets are another great option, in fact, they are said to be the most secure way to store cryptocurrencies. Below is a list of the litecoin flexible hardware wallets.

Litecoin is in the top ten of all cryptocurrencies by market capitalization. Websites are rapidly adopting Litecoin as a method of payment as well. If you yourself want to accept LTC as a business, you can refer to these merchant manuals. Alternatively, if you would like to explore websites that accept Litecoin, head over to /r/AcceptingLTC.

Here are also several of our favorite merchants accepting Litecoin.

The Litecoin community is extremely kind and robust. There are many forums and places where you can discuss Litecoin with others who are interested in the currency. Here are the main ones:

If you have more questions, or are genuinely interested in learning more about Litecoin then be sure to read this series. If you have a specific question that you can’t seem to find the answer too, ask below and someone will help you out!

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Litecoin r/litecoin – reddit

Litecoin Is Surging, Boosting Ethereum, Ripple’s XRP And …

Litecoin, the bitcoin rival founded by thewidely-respectedmanaging director of the Litecoin Foundation Charlie Lee, has popped higher today, rising 10% over the last 24 period and boosting the wider cryptocurrency market, including ethereum, Ripple’s XRP, and bitcoindespite recent warnings over the health of the bitcoin market.

The litecoin price rose to $37 after falling under the psychological $30 price last month amid a bitcoin and cryptocurrency bear market that’s dragged on the sector for the last 13 months. Litecoin fell to lows of around $22 late last year as the so-called crypto winter took its toll, downsome 93% from its all-time high.

Litecoin’s rapid rise saw it overtake first bitcoin cash, an offshoot of the original bitcoin, and then EOS, an ethereum rival, moving into fourth place on the list of the world’s biggest cryptocurrencies by market value, according to CoinMarketCap prices.

The litecoin price boomed along with many other major cryptocurrencies throughout 2017 but has since fallen sharply back.Getty

Litecoin’s leap higher comes after news yesterday that the Litecoin Foundation and Beam, a software development outfit which has its own cryptocurrency, have officially decided to work together to explore whether Litecoin should implement the protocol Mimblewimble, named aftera Harry Potter spell that stops people from spilling secrets and designed to improve privacy and scalability.

“We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa,” Beam wrote in a Medium post. “Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.”

MimbleWimbleallows the user to encrypt all data with respect to a transaction made on the cryptocurrency network and iflitecoin did adopt it, it would require a so-called hard fork of the cryptocurrency a new version of litecoin to reflect the update.

The litecoin price jumped higher after trading flat so far in February.CoinDesk

“Lee has previously mentioned in various conversations his interest and hesitation with MimbleWimblebut had hoped that the community would adopt the change if it proved to be a worthwhile upgrade to the network,” according to a Litecoin Foundationblog post.

The MimbleWimble implementation will also help the Litecoin Foundation’s ambition to make litecoin more fungible, meaning one litecoin, or a smaller denomination, should be able to switched for another without loss of value. Bank notes are considered highlyfungible as one$20 bill canbe swapped for another or two$10 bills.

Charlie Lee, the creator of litecoin, took to Twitter to explain his interest in the privacy protocolMimbleWimble.Twitter / @SatoshiLite

Elsewhere, the litecoin price rise has pulled the wider cryptocurrency market out of the doldrums, with investors waking up to a sea of green on trading boards this morning.

Ethereum’s tradable token ether rose 2% over the last 24 hours, while ripple (XRP) was up by 1% and EOS added almost 2%.

The bitcoin price has been falling steadily since it hit an all-time high of almost $20,000 in December 2017, forcingmany bitcoin, cryptocurrency and blockchain startups to slash jobs or shut down entirely and leavinginvestors desperate for signals of which way the market will move next.

Bitcoin and cryptocurrency fever gripped the world in 2017, with some major coins, including Ripple’s XRP, ethereum, and litecoin, seeing pricepercentage increases that far outstripped bitcoin itself.

Excerpt from:

Litecoin Is Surging, Boosting Ethereum, Ripple’s XRP And …

Ex-Googler Gives the World a Better Bitcoin | WIRED

Charles Lee was a software engineer at Google, spending his days hacking networking code for the search giant’s new-age operating system, ChromeOS. But in his spare time, he rewrote Bitcoin, the world’s most popular digital currency.

Early one October morning two years ago, Lee unleashed his project, Litecoin, onto an online universe that was still coming to terms with its more famous progenitor, and though Litecoin is still firmly rooted in the Bitcoin code base, it has found a place in the world, showing just how strong the appetite is for a new breed money.

Bitcoin has had an extraordinary run this year, but if you’d sunk your money into Litecoin instead of Bitcoin on January 1, it would have done better. Since then, Bitcoin jumped from just over $13 to its current value of more than $115. Back in January, Litecoin was trading in the $0.07 range. Today, it’s worth close to $2.40. In other words, while it took 200 Litecoins to buy a Bitcoin in January, today it takes only 50.

Government regulation may put the squeeze on Bitcoin and perhaps Litecoin too. But digital currency will continue to evolve and grow. It’s what so much of the world wants.

Although its dwarfed by Bitcoin’s popularity, people seem to like Litecoin because it’s a more credible alternative to the growing list of Bitcoin imitators, which Lee saw as either technologically challenged or straight up pump-and-dump scams. “I wanted to create something that is kind of silver to Bitcoins gold,” says Lee, who left Google last month to seek his fortune in the wild west of alternative digital currencies.

He took the basic ideas behind Bitcoin a currency created by a pseudonymous character who goes by the name Satoshi Nakamoto and refined them. Litecoin was designed to pump out four times as many coins as Bitcoin, in an effort to keep the digital currency from becoming scarce and too expensive. It processes transactions more quickly, and discourages the kind of high-volume but very small transactions that have become a nuisance on the Bitcoin network. And it lets regular folks more easily “mine” coins i.e. provide the online currency system with the computing power it needs, in exchange for digital money.

The result wasn’t a Bitcoin killer. But it was something that gave digital currency yet another stamp of approval.

Down the Silk Road

The Ivory Coast-born son of an entrepreneur, Charles Lee has long had an interest in economics. He describes himself as a gold investor, skeptical of the Federal Reserve. Like his dad, he graduated from MIT, having studied computer science and electrical engineering. And after kicking around in Silicon Valley for more than a decade, he was looking for something new in 2011.

He found that in Bitcoin: an open-source-software project that seemed to perfectly marry his passions for finance, cryptography, and technology. He first heard about it while reading an article about Silk Road, the online drug shopping mall, and soon, he started playing around with the peer-to-peer software that powers the digital currency. From there, the natural next step was to create his own.

He released one currency called Fairbrix but it was a dud, plagued with technical problems. Litecoin was his second effort.

His Bitcoin fork was worthless the day he launched it, and it was hardly the only Bitcoin alternative out there. But Lee took a different tack from some of the other Bitcoin imitators. He released the currency to the world after mining a mere 150 Litecoins. That meant that the whole world could get in on the currency on the ground floor.

There was also a bonus for miners, who in October 2011 were engaged in an escalating technology race in the Bitcoin world. Bitcoin miners earned coins by participating in a kind of cryptographic lottery and the folks who could do the most mathematical calculations were rewarded with the most Bitcoins. But as Bitcoin surged in value, people started building complex Bitcoin mining rigs that could do more calculations and therefore earn more Bitcoins.

Litecoin leveled the playing field, using a technology called Scrypt to lower the advantage miners would get by switching to GPU rigs or custom-designed mining systems.

Mirror, Mirror

Thanks to a few small changes to the Bitcoin way, Lee succeeded where others couldn’t. Two years on, Litecoin has started to reproduce the Bitcoin ecosystem is many respects.

The Silk Road underground drug shopping mall gave Bitcoin a boost, and now Litecoin is accepted at an alternative to The Silk Road, called Atlantis. There’s a company in Utah called Casascius that mints its own physical Bitcoins, and Litecoin has got this too, only the Litecoin version is from Hawaii.

You may have a much harder time finding a pub in London or a taxi cab in San Francisco that will accept Litecoin, but hey, Jay’s Jerky and Goodies takes them. So does the online tech store BitElectronics.

Still, Litecoin is mostly a vehicle for investors who want to get in early on what could be the next wave in digital currencies. But there are a few signs that it’s continuing to strengthen its foothold. Earlier this year, Bitcoin’s most widely used exchange, Mt. Gox, said that it was going to start trading Litecoin.

To get a sense of how things have changed, consider this. About a year ago, Noah Luis the guy who mints the Litecoin coins in Hawaii convinced someone on the internet to buy him a pizza in exchange for 3,500 Litecoins, worth $30 at the time. At today’s valuation that medium-sized meat-lover’s pizza was worth $8,400.

Luis says he has no regrets.

A dual e-ink and LCD screen could save your gadget’s battery life and your eyesight. Photo: Jon Snyder/Wired.com

The Doubleclicks: Aubrey and Angela Webber. Photo by Jessie Kirk.

In May the project got a boost when Warren Togami signed on. A former software engineer at Red Hat, he’d founded the Fedora Linux project about a decade earlier.

Togami is now Litecoin’s lead developer and he’s creating a nonprofit foundation to manage the Litecoin software development and advocacy, much like the Bitcoin Foundation.

And just last month, a Bay Area startup called Coinbase hired Lee away from Google.

Lee says that he isn’t there to work on Litecoin. He’s written some code that allows Coinbase users to swap Bitcoins via SMS. But he wouldn’t rule out the possibility of Coinbase adopting Litecoin.

Bitcoin’s story has been a bumpy ride. The currency has crashed and risen from the ashes. Bankers, regulators, and law enforcement agencies eye it with suspicion. In all likelihood, Litecoin will have many similar bumps ahead of it, if it continues ride in Bitcoin’s wake.

But even if it doesn’t survive, it’s serving an important purpose, says Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University. Bitcoin is “like any other open-source project where people are going to fork it,” he says. “Thats good in that people are going to take it in interesting new directions.”

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Ex-Googler Gives the World a Better Bitcoin | WIRED

Litecoin Price Chart (LTC) | Coinbase

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Circulating Supply

Litecoin is a cryptocurrency that uses a faster payment confirmation schedule and a different cryptographic algorithm than Bitcoin.

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What is litecoin?

Litecoin is a peer-to-peer cryptocurrency in many regards similar to Bitcoin. Coins are created and transfered using an open source cryptographic protocol and are not managed by any central authority. Thanks to the adoption of Segregated Witness, and the Lightning Network, Litecoin has some technical advantages over Bitcoin and other major cryptocurrencies. It is capable of handling a greater number of transactions in a given time and thus reducing potential bottlenecks, as seen with Bitcoin. Also, payment cost of Litecoin is nearly zero and its payment speed is approximately four times greater than that of Bitcoin.

Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee. The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI. During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours. Litecoin reached a $1 billion market capitalization in November 2013

Like all cryptocurrencies, litecoin is not issued by a government, which historically has been the only entity that society trusts to issue money. Instead being regulated by a Federal Reserve and coming off a press at the Bureau of Engraving and Printing, litecoins are created by the elaborate procedure called mining, which consists of processing a list of litecoin transactions. Unlike traditional currencies, the supply of litecoins is fixed. There will ultimately be only 84 million litecoins in circulation and not one more. Every 2.5 minutes (as opposed to 10 minutes for bitcoin) , the litecoin network generates a what is called a blocka ledger entry of recent litecoin transactions throughout the world. And here is where litecoins inherent value derives.

Read more: What Is Litecoin And How Does It Work?

The incentive for mining is that the first miner to successfully verify a block is rewarded with 50 litecoins. The number of litecoins awarded for such a task reduces with time. In October of 2015 it will be halved, and the halving will continue at regular intervals until the 84,000,000th litecoin is mined. But could one unscrupulous miner change the block, enabling the same litecoins to be spent twice? No. The scam would be detected immediately by some other miner, anonymous to the first. The only way to truly game the system would be to get a majority of miners to agree to process the false transaction, which is practically impossible.

Read more: What Is Litecoin And How Does It Work?

Storing litecoin. If you want buy litecoin or you already have some litecoin you have to find find some save place where you will put your litecoin. You have lot of option it depend of your idea what you want done with your litecoin. Most used option is putting your litecoin it to software wallet you can genereate software wallet for free and you have lot of time on software wallet this option is relatively save but not much practicaly. Second most used variant is put your litecoin in to some cryptocurenci stock where your litecoin is not some secured as in Software wallet but you have more option what you can done with your litecoin you can sell your litecoin you can buy more litecoin you can exchange your litecoi you can lend your litecoin and make some profit of them it only depend of you. Newest way is put your litecoin in to hardware wallet be casrfull there is differencsi between hardware and fostware wallet in hardware wallet your litecoin is on absoultly save anyone can not steal your litecoin but if you lost your hardware wallet hardware wallet is technolgical simular to flash drive your will lose all your litecoin be carefull and this oponinin is not much practicaly. It only depend on you what type of variant is best for you.

Litecoin transaction fee cost fee cents bitcoin transaction fee is about dollars. Litecoin has faster network transaction is much fastert then in bitcoin network normal transaction takes 2 minnuste in bitcoin blockchain normal transaction take 10 minute. Total annound bitcoin is 21 million coin and litecoin has 84 million coin. Different algorim bitcoin use Bitcoins SHA-256 litecoin use Litecoins Scrypt . Bitcoin has a biggest market capitalistion in cryptocurrenci litecoin in now in six postion but in future litecoin should have one of the biggest market cappilastion.

Once a currency reaches a critical mass of users who are confident that the currency is indeed what it represents and probably wont lose its value, it can sustain itself as a method of payment. Litecoin isnt anywhere near universally accepted, as even its own founders admit that it has fewer than 100,000 users. (Even bitcoin probably has less than half a million total users.) But as cryptocurrencies become more readily accepted and their values stabilize, one or two of thempossibly including litecoinwill emerge as the coin(s) of the digital realm.

Read more: What Is Litecoin And How Does It Work?

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Litecoin (LTC) – Live trades, prices and market cap.

Litecoin (LTC) – Live trades, prices and market cap.

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Litecoin (LTC) – Live trades, prices and market cap.


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