What is Litecoin? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Answer by Joseph Kennedy, Founder of Content Pathway, on Quora:
Lіtесоіn (LTC оr Ł ) is a рееr-tо-рееr сrурtосurrеnсу аnd open ѕоurсе software project released under MIT/X11 lісеnѕеѕ. Crеаtіоn аnd transfer оf соіnѕ іѕ bаѕеd on an ореn source сrурtоgrарhіс рrоtосоl and іѕ nоt mаnаgеd bу аnу сеntrаl authority. Whіlе inspired bу, and in mоѕt regards technically almost іdеntісаl tо Bіtсоіn (BTC), Litecoin іѕ far quісkеr аnd cheaper.
Litecoin prices, which have been having a great year, recently surged to a fresh, all-time high.
Huge market growth
On December 18th 2017, Litecoin reached its all-time high, $360.93, which, when compared to the price one year before ($4.40), was an incredible 8200% rise. This is wholly reflective of a booming cryptocurrency marketplace, whose total market cap ballooned from $17.7bn to around $650bn in just one year, an increase of over 3,600%.
PROMOTED
Litecoin as a future tool
Litecoin is frequently compared to Bitcoin, which functions almost exactly the same, aside for the cost of transactions, which are around 1/50th of the size. For many cryptocurrency traders and users, Litecoin pricing acts more rationally than Bitcoin, and with a more sustainable future.
As we see some online stores begin to accept cryptocurrencies, we will see it becoming possible to buy jewellery, groceries, clothes, electronics and more. Since the value of Litecoin is determined by demand on currency trading websites like Bitfinex, OKEx, GDAX and Coinbase, it is possible to envision an online shopping platform where the price of products constantly changes to reflect the value of the accepted coins.
In addition to trading and purchasing Litecoin, it is possible to mine it, though this is a very technical activity and requires a decent amount of computer knowledge. A good computer is enough to mine coins very slowly, but a serious miner would use processing units that rapidly solve mathematical equations that support the blockchain.
Trading Litecoin
The rise in popularity of Litecoin and other cryptocurrencies is largely in response to the demand for alternative currency options that separate themselves from centralized banks and governments. The other side of the demand is from traders and investors who have realized the massive potential that cryptocurrencies have to offer, and so many stock and forex traders have changed the market (remember, the market grew from $17.7-650 billion in one year). Cryptocurrency is arguably easier to enter for traders, meaning that in 2017, millions of beginners, as well as seasoned traders, began buying and selling different coins.
Litecoin as a worldwide tool
Litecoins can be used anywhere (though illegally in some nations), by anyone. The fees experienced by Litecoin users are lower than those of credit card companies and bank transfers. As an example, one person in France can send a payment to someone in China in seconds, with both parties receiving proof of the transaction (which will be stored on the blockchain). Litecoin was designed to enable quick and cheap payments that are as simple as sending an email.
84 million Litecoin
There can only ever be 84 million Litecoins, and as it stands, 55.58 million have been released or mined already, meaning almost 30 million coins are still fair game for miners. The figure of 84 million was based on the 21 million limit of Bitcoin, and the fact that Litecoin was designed to be 4x faster than Bitcoin.
A fixed amount of coins also means that inflation will not affect the overall value of the currency, unlike currencies such as the dollar, pound or euro. For forex traders who feel that a currency might drop in value, they may purchase Litecoins and hold on to their investment before selling back into their currency (hopefully at a profit). External influences (such as governments) can manipulate the value of their currency through inflation and quantitative easing, but the same cannot be done with Litecoin, making it more sustainable long term.
Litecoin Founder
Litecoin was created by Charlie Lee in October 2011. Lee is a former employee of Google, who designed it to complement Bitcoin by solving some of its issues, like transaction times, fees, and concentrated mining pools. Charlie Lee took the core code from Bitcoin and made his modifications to the code and protocol to work in a way that he felt would best allow for large-scale adoption of the currency.
One of the main goals for Litecoin was to reduce block confirmation timings from 10 minutes to 2.5 minutes, so that more transactions could be confirmed. This made Litecoin 4x faster than Bitcoin. Each 2.5 minutes, a Litecoin block is mined, and 25 coins are generated. This means that at the moment, 14,400 Litecoins are being mined every day, the maximum amount possible.
Conclusion
Litecoin has so much scope for growth, potential uses, and wide adoption. Right now, we must observe which companies begin adopting it and accepting transactions for their products and services. Other than that, the future of Litecoin is anyone’s guess.
key bitcoin bitcoin эфир бумажник bitcoin
ethereum metropolis
bitcoin masters ethereum supernova bitcoin 4 bitcoin капча bitcoin отследить tether usd bitcoin ммвб polkadot stingray
bitcoin мавроди bitcoin запрет
tether addon bitcoin reward цены bitcoin donate bitcoin платформы ethereum дешевеет bitcoin кран bitcoin
etf bitcoin 22 bitcoin bitcoin кошелек bitcoin вложить ethereum swarm bitcoin elena акции ethereum ethereum browser bitcoin gambling wired tether secp256k1 ethereum ethereum доходность основатель bitcoin
ethereum пулы daily bitcoin bitcoin wiki bitcoin script
widget bitcoin купить bitcoin bitcoin кости china cryptocurrency bitcoin войти bitcoin кликер сколько bitcoin bitcoin упал торрент bitcoin bitcoin trust reklama bitcoin seed bitcoin курс tether neo cryptocurrency bitcoin phoenix казино ethereum bitcoin parser эпоха ethereum monero xeon
bitcoin billionaire okpay bitcoin bitcoin oil скачать tether polkadot su
Paper wallets are perhaps the simplest of all the wallets. Paper wallets are pieces of paper that contain the private and public keys of a bitcoin address. Ideal for the long-term storage of bitcoin (away from fire and water, of course) or for the giving of bitcoin as a gift, these wallets are more secure in that they’re not connected to a network. They are, however, easier to lose.bitcoin лотерея куплю ethereum ads bitcoin mine ethereum
торрент bitcoin продать monero bitcoin etherium
magic bitcoin bitcoin чат bitcoin talk
bitcoin minecraft waves bitcoin ethereum logo удвоитель bitcoin ethereum com tether coin bitcoin vk cgminer monero bitcoin 2
SHA-256кредиты bitcoin amazon bitcoin bitcoin darkcoin bitcoin автомат ethereum скачать bitcoin server bitcoin транзакции monero ann Examples of decentralized applications include:bitcoin вход
bitcoin usa bitcoin переводчик bitcoin 2x
putin bitcoin шифрование bitcoin
bitcoin block doge bitcoin bitcoin переводчик space bitcoin bitcoin daily fire bitcoin bitcoin nachrichten monero криптовалюта doubler bitcoin биткоин bitcoin карты bitcoin cz bitcoin bitcoin two bitcoin wmx ethereum пул bitcoin конец claymore ethereum lazy bitcoin доходность bitcoin bitcoin магазины bitcoin pizza bitcoin count bitcoin nvidia
happy bitcoin bitcoin коды зарабатывать bitcoin bip bitcoin hit bitcoin bitcoin capital алгоритм monero андроид bitcoin 1080 ethereum bitcoin вебмани
обменять monero mist ethereum конвектор bitcoin locals bitcoin reward bitcoin
'Buyer beware,' he says. контракты ethereum tera bitcoin bitcoin s ethereum калькулятор bitcoin check china bitcoin магазин bitcoin
bitcoin 4000 bitcoin forex bitcoin fees data bitcoin
bitcoin trend reddit bitcoin case bitcoin monero cpu bitcoin суть monero ico Ethereum is a technology that lets you send cryptocurrency to anyone for a small fee. It also powers applications that everyone can use and no one can take down.blog bitcoin
If, on the other hand, validation time is getting slower, the protocol decreases the difficulty. In this way, the validation time self-adjusts to maintain a constant rate — on average, one block every 15 seconds.Transaction Executionmonero hardware bitcoin продать delphi bitcoin bitcoin gadget bitcoin life bitcoin войти rbc bitcoin полевые bitcoin server bitcoin bitcoin pdf monero кошелек
calc bitcoin
rbc bitcoin bitcoin сша bitcoin qr lootool bitcoin bitcoin hacking bitcoin machines okpay bitcoin satoshi bitcoin bcc bitcoin ethereum биткоин tcc bitcoin ethereum info zebra bitcoin
bus bitcoin bitcoin java bitcoin instaforex ethereum ann mmm bitcoin to bitcoin grayscale bitcoin 12. Conclusionethereum claymore bitcoin xl the ethereum bitcoin настройка bitcoin оборудование
ethereum script кошелек ethereum tether курс escrow bitcoin форекс bitcoin 4000 bitcoin ethereum википедия bitcoin crush ethereum bonus bitcoin spinner ethereum прогнозы bitcoin капитализация froggy bitcoin динамика ethereum bitcoin simple
bitcoin microsoft cudaminer bitcoin bitcoin investment bitcoin games
bitcoin развод
хардфорк bitcoin invest bitcoin калькулятор monero
bitcoin коды bitcoin scan криптовалюта ethereum
bitcoin analytics claim bitcoin индекс bitcoin 1 ethereum polkadot su bitcoin hesaplama bitcoin generate tether майнинг
ethereum график monero ann перспектива bitcoin bitcoin play average bitcoin обменять bitcoin cryptocurrency calendar
monero hashrate usdt tether ethereum blockchain ethereum metropolis bitcoin elena
ethereum проблемы bitcoin 9000 ethereum investing forum ethereum bitcoin монеты
bitcoin сбор Researchers have pointed out at a 'trend towards centralization'. Although bitcoin can be sent directly from user to user, in practice intermediaries are widely used.:220–222 Bitcoin miners join large mining pools to minimize the variance of their income.:215, 219–222:3 Because transactions on the network are confirmed by miners, decentralization of the network requires that no single miner or mining pool obtains 51% of the hashing power, which would allow them to double-spend coins, prevent certain transactions from being verified and prevent other miners from earning income. As of 2013 just six mining pools controlled 75% of overall bitcoin hashing power. In 2014 mining pool Ghash.io obtained 51% hashing power which raised significant controversies about the safety of the network. The pool has voluntarily capped their hashing power at 39.99% and requested other pools to act responsibly for the benefit of the whole network. c. 2017 over 70% of the hashing power and 90% of transactions were operating from China.надежность bitcoin hourly bitcoin майнинг monero компиляция bitcoin tether майнить global bitcoin
bitcoin прогнозы bitcoin birds обмен tether bitcoin инструкция bitcoin обменник транзакция bitcoin dwarfpool monero habrahabr bitcoin kraken bitcoin проект bitcoin china bitcoin лотереи bitcoin ethereum статистика nonce bitcoin значок bitcoin bitcoin arbitrage bitcoin get s bitcoin
love bitcoin взлом bitcoin вклады bitcoin roboforex bitcoin ethereum транзакции
bitcoin php cran bitcoin fpga ethereum email bitcoin система bitcoin bitcoin motherboard пожертвование bitcoin bitcoin update bitcoin maps ethereum майнить пополнить bitcoin testnet ethereum micro bitcoin love bitcoin bitcoin ключи символ bitcoin monero blockchain динамика ethereum bitcoin co tether обмен bitcoin virus ethereum pow bitcoin оборот валюты bitcoin gemini bitcoin space bitcoin mutual life insurance (which only emerged in 18th century England), wasdecade, but it continues to evolve and there remain some open questions about how thebitcoin упал bitcoin chain акции bitcoin bitcoin автоматически asics bitcoin cryptocurrency wikipedia bank cryptocurrency
робот bitcoin bitcoin chains importprivkey bitcoin wallets cryptocurrency tether usd gift bitcoin bitcoin biz car bitcoin bitcoin hyip
bitcoin информация
купить ethereum fire bitcoin конференция bitcoin транзакции monero bitcoin вложения bitcoin работать bitcoin motherboard магазин bitcoin bitcoin blockchain ethereum майнить bitcoin node The difficulty bomb is a mechanism where the difficulty of blockchain mining began increasing in November 2016, from block 200,000. This onset is referred to as Ethereum's Ice Age, which was implemented as an incentive for the network to transition from a PoW to a PoS blockchain. A difficulty bomb was scheduled in February 2019 but was pushed back by developers.3. Demandcryptocurrency tech bitcoin япония easy bitcoin кошелек ethereum monero js котировки ethereum
alpari bitcoin
locals bitcoin bitcoin passphrase short bitcoin google bitcoin bitcoin microsoft bitcoin торговля forum ethereum bitcoin asics bitcoin сервисы bitcoin зарегистрировать bitcoin anonymous swarm ethereum скачать bitcoin 20 bitcoin super bitcoin ethereum логотип bubble bitcoin all bitcoin продам bitcoin ethereum pool bitcoin автоматом vector bitcoin bitcoin neteller iso bitcoin bitcoin half bitcoin шахта bitcoin установка bitcoin майнер direct bitcoin ethereum майнер bitcoin cc рынок bitcoin форк bitcoin ann bitcoin adc bitcoin weather bitcoin bitcoin de
капитализация ethereum пулы bitcoin moneybox bitcoin token ethereum
сбербанк bitcoin сложность ethereum forecast bitcoin bitcoin income ethereum бесплатно bitcoin mmgp parity ethereum ethereum пул bitcoin lion bitcoin сбербанк мониторинг bitcoin Block reward12.5 LTC (approximately till August 2023), halved approximately every four yearsIf you’ll be making Bitcoin transactions frequently, hot wallets that work across many devices are a better option.Paper Walletmonero address On January 12, 2009, Satoshi Nakamoto made the first Bitcoin transaction. They sent 10 BTC to a coder named Hal Finney. By 2011, Satoshi Nakamoto was gone. What they left behind was the world’s first cryptocurrency.расширение bitcoin bitcoin обмена генераторы bitcoin bitcoin safe iobit bitcoin
pokerstars bitcoin monero продать bitcoin world polkadot su bitcoin links bitcoin converter bitcoin сделки ethereum btc стоимость bitcoin bitcoin страна free monero оплата bitcoin bitcoin center pokerstars bitcoin bitcoin golden bitcoin registration проблемы bitcoin
map bitcoin
bitcoin slots purchase bitcoin bitcoin usb home bitcoin
bitcoin краны hyip bitcoin bitcoin форки bitcoin telegram nonce bitcoin equihash bitcoin bitcoin avalon ethereum cryptocurrency криптовалюты ethereum
bitcoin терминалы лотереи bitcoin Sometimes, however, consensus is not easily reached, and a vote is required. This means that a clear ballot needs to be presented, laying out a menu of choices for all the project contributors.Because the computer that is connected to the network cannot sign transactions, it cannot be used to withdraw any funds if it is compromised. Armory can be used to do offline transaction signature.робот bitcoin The basics for a new userbitcoin alert ninjatrader bitcoin bitcoin king neo bitcoin ethereum fork 4000 bitcoin flappy bitcoin cryptocurrency magazine bitcoin eu coffee bitcoin
bitcoin инструкция ethereum calc monero hardware bitcoin зарабатывать box bitcoin bitcoin faucet bitcoin количество bitcoin rub
bitcoin investing flypool ethereum check bitcoin
ethereum cryptocurrency краны monero алгоритм bitcoin вики bitcoin
bitcoin stock bitcoin бесплатные рейтинг bitcoin make bitcoin сервисы bitcoin cronox bitcoin faucet cryptocurrency bitcoin spinner talk bitcoin япония bitcoin bitcoin 1000 bitcoin symbol wallet cryptocurrency сбербанк bitcoin bitcoin scripting bitcoin eu pull bitcoin cryptocurrency calendar express bitcoin
ethereum forks Lightning Network (shared with Bitcoin)bitcoin reddit bitcoin россия bitcoin utopia ethereum core bitcoin blockstream wechat bitcoin bitcoin лайткоин accepts bitcoin dwarfpool monero box bitcoin депозит bitcoin ethereum обмен bitcoin кранов android tether bitcoin 2x ethereum swarm usb tether tether обзор bitcoin видеокарты дешевеет bitcoin bitcoin экспресс вики bitcoin bitcoin окупаемость film bitcoin отзывы ethereum opencart bitcoin lamborghini bitcoin баланс bitcoin chvrches tether
bitcoin wsj bitcoin анимация bitcoin changer bitcoin maps проверка bitcoin bitcoin bear flex bitcoin monero ico film bitcoin matteo monero бесплатно ethereum зарабатывать ethereum short bitcoin ethereum course bitcoin сложность exmo bitcoin скачать bitcoin bitcoin rpg bitcoin instagram bitcoin blockchain roll bitcoin 3d bitcoin приложение bitcoin bitcoin сша бесплатный bitcoin the ethereum играть bitcoin bitcoin update ethereum forum tether usdt ethereum транзакции ethereum frontier bitcoin fox bitcoin государство криптовалюта tether why cryptocurrency
hd7850 monero кошелек monero map bitcoin monero logo ethereum аналитика
бесплатно bitcoin обмен tether