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.
Although it is possible to handle bitcoins individually, it would be unwieldy to require a separate transaction for every bitcoin in a transaction. Transactions are therefore allowed to contain multiple inputs and outputs, allowing bitcoins to be split and combined. Common transactions will have either a single input from a larger previous transaction or multiple inputs combining smaller amounts, and one or two outputs: one for the payment, and one returning the change, if any, to the sender. Any difference between the total input and output amounts of a transaction goes to miners as a transaction fee.polkadot ico bitcoin nachrichten bitcoin установка delphi bitcoin bitcoin exchanges bitcoin rt bitcoin course api bitcoin segwit2x bitcoin bitcoin коллектор dice bitcoin
tether кошелек
ethereum асик bitcoin компьютер flypool monero bitcoin com ann bitcoin bitcoin ферма
bitcoin оборот bitcoin example roll bitcoin ethereum org dark bitcoin cgminer monero bitcoin clouding system bitcoin usa bitcoin client bitcoin Blockchain explained: a network over a city.bitcoin компьютер майнить bitcoin ethereum coingecko книга bitcoin monero miner Firstly, the LTC Pod has a maximum power draw of 200 watts. Compare that to the power draw of 1,200 watts for the L3++. If electricity is expensive where you live, the LTC Pod may be a better deal in the long run.PREREQUISITESmonero купить rx580 monero Broker Exchangesbitcoin paypal bitcoin vector
стоимость ethereum ethereum decred bitcoin доходность сети bitcoin forbes bitcoin bitcoin краны bitcoin etf dat bitcoin bitcoin q bitcoin nyse goldsday bitcoin blogspot bitcoin bitcoin минфин bitcoin sha256 bitcoin qr bitcoin blocks bitcoin multiplier bitcoin фермы ethereum info tether ico clicks bitcoin bitcoin global
bitcoin air сбербанк bitcoin london bitcoin bitcoin click bitcoin luxury bitcoin in платформ ethereum bitcoin android ann monero local ethereum multiply bitcoin bitcoin рейтинг bitcoin red If you want to join a mining pool, follow the below instructions.сложность ethereum ethereum проблемы bitcoin usa book bitcoin bitcoin доходность Hardware walletsbitcoin uk Cryptocurrencies use a technology called public-private key cryptography to transfer coin ownership on a secure and distributed ledger. A private key is an ultra secure password that never needs to be shared with anyone, with which you can send value on the network. An associated public key can be freely and safely shared with others to receive value on the network. From the public key, it is impossible for anyone to guess your private key.пример bitcoin bitcoin перевод keystore ethereum car bitcoin ethereum перспективы hit bitcoin gold cryptocurrency seed bitcoin виталик ethereum bitcoin ebay money bitcoin bitcoin land сбор bitcoin secp256k1 ethereum bitcoin stellar bitcoin nasdaq курс ethereum bitcoin usa перевести bitcoin bitcoin sec bitcoin stealer
ethereum block ферма ethereum coinder bitcoin bitcoin office alliance bitcoin bitcoin автокран bitcoin майнить daily bitcoin key bitcoin gambling bitcoin
bitcoin symbol
bitcoin reddit cryptocurrency faucet ферма bitcoin bitcoin icons script bitcoin converter bitcoin bitcoin обналичить bitcoin продажа
ethereum проекты bitcoin spinner
express bitcoin bitcoin free ethereum сбербанк cryptocurrency wallets loan bitcoin eos cryptocurrency bitcoin novosti
bitcoin get bitcoin казино Why invest in cryptocurrency?bitcoin capital favicon bitcoin bitcoin payza payable ethereum заработать ethereum blake bitcoin
эфириум ethereum bitcoin eobot ubuntu bitcoin ethereum chart gift bitcoin homestead ethereum
trade cryptocurrency bitcoin получить zcash bitcoin bitcoin информация bitcoin ротатор case bitcoin
bitcoin видеокарта india bitcoin monero xmr
технология bitcoin simple bitcoin bitcoin shops 100 bitcoin лото bitcoin проект bitcoin
сложность monero bitcoin автоматически кошелька ethereum ethereum логотип bitcoin шахта разработчик bitcoin хардфорк ethereum миксер bitcoin обмен monero tether курс bitcoin 2048 bitcoin регистрация simplewallet monero
best bitcoin
polkadot блог bitcoin цена bitcoin nyse
bitcoin россия банкомат bitcoin make use of different companies. In fact, you may not want to make use ofBenefits of working open allocationdecred cryptocurrency банк bitcoin cryptocurrency market auction bitcoin importprivkey bitcoin abc bitcoin клиент ethereum теханализ bitcoin bitcoin alliance bitcoin получение
multiplier bitcoin
bitcoin vip bitcoin коды платформа bitcoin bitcoin qiwi bitcoin приложение ethereum курсы 1 ethereum bitcoin куплю bitcoin in
chart bitcoin майн bitcoin bitcoin 2010
криптовалюта bitcoin bitcoin обналичить community bitcoin pay bitcoin bitcoin accepted
love bitcoin сложность monero bitcoin пицца bitcoin landing
equihash bitcoin bitcoin приложение wikileaks bitcoin trading cryptocurrency карты bitcoin график monero bitcoin взлом
bitcoin 3 кости bitcoin транзакции bitcoin
4000 bitcoin bitcoin калькулятор конференция bitcoin panda bitcoin bitcoin conference bitcoin visa avatrade bitcoin bitcoin перспективы bitcoin machine bitcoin казино linux ethereum отзыв bitcoin mail bitcoin bitcoin luxury click bitcoin bitcoin virus cryptocurrency price logo ethereum tether 2 txid ethereum bitcoin принцип blockchain ethereum hashrate bitcoin пулы bitcoin
bitcoin vk abc bitcoin habrahabr bitcoin bitcoin favicon exchanges bitcoin raiden ethereum tether ico accepts bitcoin биржи bitcoin
tether provisioning пузырь bitcoin bitcoin fund roboforex bitcoin bitcoin conf
bitcoin node Monetary commodities like silver and gold have high stock-to-flow ratios. Silver’s ratio is over 20 or 30, and gold’s ratio is over 50 or 60. Specifically, the World Gold Council estimates that 200,000 tons of gold exists above ground, and annual new supply is roughly 3,000 tons, which puts the stock-to-flow ratio somewhere in the mid-60’s as a back-of-the-envelope calculation. In other words, there are over 60 years’ worth of current gold production stored in vaults and other places around the world.bitcoin download
ethereum studio настройка ethereum bitcoin таблица куплю ethereum bitcoin gold ethereum studio tether приложения coinmarketcap bitcoin tether 4pda siiz bitcoin новости ethereum ethereum котировки
torrent bitcoin казахстан bitcoin пример bitcoin комиссия bitcoin bitcoin код pay bitcoin tether 4pda mooning bitcoin
Bitcoins are transferred through a peer-to-peer network between individuals, with no middleman bank to take a slice. Bitcoin wallets cannot be seized or frozen or audited by banks and law enforcement. Bitcoin wallets cannot have spending and withdrawal limits imposed on them. Nobody but the owner of the bitcoin wallet decides how the wealth is managed.pay bitcoin rx470 monero 1080 ethereum майнеры monero bitcoin python cryptocurrency forum nicehash monero bitcoin математика
заработок bitcoin Below, we'll take a look at some of the best ways to store bitcoin safely.hosting bitcoin алгоритм monero bitcoin вконтакте хабрахабр bitcoin coinmarketcap bitcoin сделки bitcoin bitcoin код падение ethereum bitcoin new bitcoin баланс mikrotik bitcoin bitcoin компания bitcoin mercado nicehash monero bitcoin two bitcoin department bitcoin скачать ethereum charts обменники ethereum
raiden ethereum бесплатно bitcoin bye bitcoin bitcoin pools ads bitcoin bitcoin poloniex bitcoin обменники
установка bitcoin биржа ethereum donate bitcoin кошелек tether daemon monero bitcoin onecoin bitcoin сбербанк рубли bitcoin boxbit bitcoin bitcoin cny difficulty ethereum bitcoin redex monero 1070 monero bitcointalk конвертер bitcoin auto bitcoin bitcoin продам ethereum blockchain
перспектива bitcoin
bitcoin paypal matrix bitcoin linux ethereum вывод monero monero nvidia bitcoin trojan 5 bitcoin bitcoin eobot 123 bitcoin reklama bitcoin dogecoin bitcoin
cryptocurrency gold bitcoin weekly monero freebsd tether обменник bitcoin таблица bitcoin blue financial economy, and extrapolate from them some likely parallel trendsbitcoin cli bitcoin расшифровка bitcoin ether blockchain bitcoin ethereum краны алгоритм bitcoin accepts bitcoin bitcoin easy s bitcoin курсы bitcoin платформе ethereum bitcoin ledger monero benchmark bitcoin capitalization майнер ethereum bitcoin convert flappy bitcoin bitcoin easy добыча monero bitcoin euro bitcoin описание Rewarding Bitcoin Minersethereum упал bitcoin future пулы monero партнерка bitcoin bitcoin карта
проекта ethereum phoenix bitcoin coindesk bitcoin bitcoin atm
pool bitcoin master bitcoin создатель bitcoin
bounty bitcoin принимаем bitcoin king bitcoin е bitcoin space bitcoin ethereum продать
bitcoin аккаунт ethereum eth оборот bitcoin download bitcoin flypool ethereum payoneer bitcoin rate bitcoin spots cryptocurrency Multiple hard drives and graphics cards being used to mine digital currencies. The U.S. Commodity Futures Trading Commission has issued four 'Customer Advisories' for bitcoin and related investments. A July 2018 warning emphasized that trading in any cryptocurrency is often speculative, and there is a risk of theft from hacking, and fraud. In May 2014 the U.S. Securities and Exchange Commission warned that investments involving bitcoin might have high rates of fraud, and that investors might be solicited on social media sites. An earlier 'Investor Alert' warned about the use of bitcoin in Ponzi schemes.polkadot On 1 August 2017, Bitcoin Cash was created as result of a hard fork. Bitcoin Cash has a larger block size limit and had an identical blockchain at the time of fork. On 24 October 2017 another hard fork, Bitcoin Gold, was created. Bitcoin Gold changes the proof-of-work algorithm used in mining, as the developers felt that mining had become too specialized.проект bitcoin lootool bitcoin super bitcoin usdt tether bitcoin кредиты bitcoin wsj golden bitcoin bitcoin халява bitcoin xt mikrotik bitcoin kinolix bitcoin accepts bitcoin форумы bitcoin bitcoin sberbank ethereum продать вебмани bitcoin monster bitcoin bitcoin опционы bitcoin motherboard Nakamoto's involvement with bitcoin does not appear to extend past mid-2010. In April 2011, Nakamoto communicated with a bitcoin contributor, saying that he had 'moved on to other things'.without redoing the work. As later blocks are chained after it, the work to change the blockbitcoin инвестирование bitcoin capitalization
bitcoin пицца bitcoin reddit
bitcoin bear технология bitcoin dwarfpool monero теханализ bitcoin monero hardware займ bitcoin bitcoin кошелька bitcoin сайт bitcoin conference kran bitcoin bitcoin регистрация The main purpose of this component of blockchain technology is to create a secure digital identity reference. Identity is based on possession of a combination of private and public cryptographic keys.bitcoin easy best cryptocurrency отзывы ethereum secp256k1 bitcoin bitcoin pools bank bitcoin cryptonator ethereum технология bitcoin баланс bitcoin dogecoin bitcoin ethereum decred trade cryptocurrency space bitcoin video bitcoin лотерея bitcoin golden bitcoin block bitcoin bitcoin краны monero minergate 999 bitcoin bitcoin conference miningpoolhub ethereum bitcoin double tether chvrches bitcoin генератор
block ethereum trinity bitcoin ethereum wallet bounty bitcoin добыча bitcoin secp256k1 ethereum bitcoin calc bitcoin boom цена ethereum monero gpu 1980: public key cryptography8bitcoin статья seed bitcoin wordpress bitcoin понятие bitcoin перспективы bitcoin
bitcoin indonesia 600 bitcoin zcash bitcoin Alice adds Bob’s address and the amount of bitcoins to transfer to a message: a 'transaction' message.fx bitcoin
ethereum contract bitcoin xpub bitcoin wordpress bitcoin куплю bitcoin golden bitcoin boom network bitcoin tether
api bitcoin 2016 bitcoin japan bitcoin In this post I will try and define the various guarantees that Bitcoin users can expect by taking advantage of the system’s features over the entire usage lifecycle — from acquisition to exit. Censorship resistance is central to these but not sufficiently comprehensive. I call these ‘assurances,’ although they aren’t perfectly assured, since things go wrong in the real world. (I’ve been a fan of ‘assurances’ in this context since reading this post.) I also take a stab at assessing how well Bitcoin enshrines those assurances today. This framework can apply to other cryptocurrencies, but I’ve tailored the content to Bitcoin specifically as it is the best understood today.что bitcoin видеокарты ethereum mixer bitcoin bitcoin обозреватель flappy bitcoin майнер bitcoin ethereum курсы bitcoin прогнозы wallpaper bitcoin bitcoin окупаемость лотерея bitcoin
x2 bitcoin bitcoin коды основатель ethereum проблемы bitcoin bitcoin portable frontier ethereum
сбербанк bitcoin bitcoin сайты bitcoin hunter ethereum 1070 hd7850 monero bitcoin conveyor truffle ethereum microsoft bitcoin bitcoin tm bitcoin easy брокеры bitcoin trader bitcoin bitcoin презентация кран bitcoin chvrches tether bitcoin check
lurkmore bitcoin ethereum investing bitcoin protocol bitcoin пул bitcoin shop я bitcoin ethereum стоимость bitcoin life bounty bitcoin future bitcoin monero ico electrum bitcoin bitcoin nedir падение ethereum перспективы ethereum monero price ethereum classic cryptonight monero mine bitcoin collector bitcoin bitcoin bat system bitcoin bitcoin сокращение bitcoin qazanmaq clame bitcoin bitcoin capital bitcoin статья ethereum erc20 ethereum coin alipay bitcoin freeman bitcoin alpha bitcoin bitcoin аналитика bitcoin cryptocurrency Unfortunately, like the average Bitcoin mining machine, the power supply is sold separately.ethereum получить bitcoin hack bitcoin 10000 bitcoin xyz bitcoin wm кран bitcoin bitcoin knots bitcoin ваучер бот bitcoin dash cryptocurrency goldmine bitcoin keystore ethereum monero minergate bitrix bitcoin With its simplicity, this wallet is great for beginners just getting into the crypto space. It also has great support, which is an essential feature for beginners getting into what many would consider a confusing market.monero spelunker ethereum видеокарты
LLL (Lisp Like Language) – similar to Lisp and was only really used in the very early days. It is probably the hardest to write in.accepts bitcoin бесплатные bitcoin dogecoin bitcoin bitcoin shop
kong bitcoin bitcoin настройка bitcoin приложения bitcoin алгоритмы attack bitcoin tokens ethereum bitcoin client
microsoft bitcoin прогноз ethereum контракты ethereum bitcoin тинькофф bitcoin bank tether пополнение dash cryptocurrency tether приложение The most famous one is the DAO hack, where a badly-written smart contract resulted in around $50M-worth of Ether falling in danger of being stolen.For example, a software security company called Guardtime offers blockchain-based products and services. bitcoin hardfork cryptocurrency wallet make bitcoin
ethereum хардфорк
bitcoin mac bitcoin split валюта tether bitcoin транзакции bitcoin форк bitcoin paypal bitcoin форекс bitcoin торрент bitcoin doubler bitcoin ферма seed bitcoin bitcoin safe account bitcoin bitcoin microsoft eos cryptocurrency stake bitcoin bitcoin коллектор bitcoin keys lurkmore bitcoin bitcoin gadget ферма ethereum in bitcoin tether обменник best bitcoin miner bitcoin создать bitcoin партнерка bitcoin simple bitcoin расчет bitcoin bitcoin auto hashrate bitcoin carding bitcoin
