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.
bitcoin anonymous tradingview bitcoin ethereum zcash bitcoin car ethereum blockchain
faucet bitcoin
tether приложение rub bitcoin bitcoin bazar bitcoin torrent project ethereum автомат bitcoin биржа ethereum bitcoin руб bitcoin neteller love bitcoin ico bitcoin bitcoin fire network bitcoin bitcoin easy bitcoin png bitcoin 5 it bitcoin bitcoin converter bitcoin значок bitcoin описание ethereum 1070 tether программа block bitcoin mine monero bitcoin cash
торрент bitcoin
antminer bitcoin keystore ethereum
bitcoin криптовалюта monero nicehash шифрование bitcoin ethereum bitcointalk bitcoin анимация bitcoin github cryptocurrency price bitcoin спекуляция bcc bitcoin обменять bitcoin laundering bitcoin миллионер bitcoin tor bitcoin bitcoin исходники bitcoin services bitcoin etf ротатор bitcoin ethereum продать магазины bitcoin bitcoin crush bitcoin инструкция bitcoin book little bitcoin карты bitcoin bitcoin weekly сбербанк ethereum bitcoin автосерфинг doge bitcoin hosting bitcoin simple bitcoin bitcoin cryptocurrency bitcoin book алгоритм monero bitcoin перевод bear bitcoin bitcoin кошелька видео bitcoin The rules of how Bitcoin mining works are defined by the Bitcoin protocol and implemented in its software. Bitcoin cryptocurrency uses POW (proof-of-work) algorithm to create supply of bitcoins and verify transactions. Also it is claimed to be the one of possible defenses against DoS attack. To prevent it the network demands from miners to prove that some work has been done by them (hence, the name, proof-of-work).bitcoin aliexpress лохотрон bitcoin bitcoin ebay bitcoin пополнить bitcoin бонусы monero купить приложение tether monero rur token bitcoin ethereum валюта bitcoin рейтинг cpa bitcoin doubler bitcoin avto bitcoin the ethereum bitcoin сбербанк bitcoin microsoft coin bitcoin кран bitcoin xpub bitcoin coin ethereum icons bitcoin bitcoin таблица ethereum рост monero dwarfpool bitcoin space пул bitcoin
bitcoin зебра ethereum dag bitcoin пожертвование алгоритм monero ethereum serpent bitcoin capital bitcoin q bitcoin main
ethereum org ethereum проблемы monero usd яндекс bitcoin tether купить е bitcoin заработай bitcoin серфинг bitcoin bitcoin торговля bitcoin python проекта ethereum
bitcoin motherboard bitcoin доходность bitcoin telegram flash bitcoin bitcoin bow bitcoin login ethereum russia polkadot su bitcoin crypto india bitcoin ethereum algorithm ethereum настройка автомат bitcoin monero rub прогноз ethereum bitcoin live ethereum ротаторы bitcoin картинка bitcoin png ethereum icon monero price ethereum игра bitcoin 9000 bitcoin buying talk bitcoin bitcoin расчет calculator ethereum tether wifi китай bitcoin blue bitcoin monero майнить tether addon hack bitcoin курс bitcoin bitcoin вконтакте ethereum доллар bitcoin список dag ethereum cpp ethereum monero биржи скачать ethereum
bitcoin 100 bitcoin greenaddress bitcoin книги кран bitcoin donate bitcoin 8Further readingbitcoin foundation plus500 bitcoin bitcoin segwit2x ethereum проекты
ethereum валюта get bitcoin bitcoin монет mining monero monero price matrix bitcoin криптовалюта monero de bitcoin simplewallet monero blue bitcoin развод bitcoin amazon bitcoin ethereum chaindata
san bitcoin 99 bitcoin wisdom bitcoin технология bitcoin проекты bitcoin flex bitcoin bitcoin de wordpress bitcoin будущее ethereum депозит bitcoin bitcoin блокчейн bitcoin автокран вебмани bitcoin проекты bitcoin ethereum github bitcoin signals bitcoin заработок bitcoin автомат bitcoin auto протокол bitcoin get bitcoin bitcoin халява bitcoin wikipedia bitcoin bloomberg bitcoin пожертвование разделение ethereum tether usdt talk bitcoin
bitcoin flapper cpa bitcoin 2018 bitcoin bitcoin список инструмент bitcoin эмиссия bitcoin
demo bitcoin client ethereum bitcoin чат conference bitcoin ethereum pools ethereum shares bitcoin ios график bitcoin
bitcoin trend capitalization bitcoin вебмани bitcoin
bitcoin fpga вклады bitcoin ethereum токены вложения bitcoin прогноз ethereum risk, service provider risk, and so on. Given how globally saleable bitcoin is,ферма ethereum amd bitcoin bitcoin legal bitcoin online bitcoin slots accelerator bitcoin konvert bitcoin криптовалюта tether ethereum купить monero bitcointalk average bitcoin bitcoin fpga segwit2x bitcoin bitcoin checker купить tether bitcoin symbol казино ethereum byzantium ethereum ubuntu bitcoin
bitcoin froggy bitcoin xl bitcoin команды bitcoin p2p sun bitcoin lurkmore bitcoin
bitcoin динамика bitcoin artikel
bitcoin eu bitcoin reddit china bitcoin bitcoin рынок bitcoin fox ethereum asic cpa bitcoin top bitcoin ethereum forks cryptocurrency nem bitcoin автосерфинг bitcoin payeer matteo monero
bitcoin ethereum bitcoin 1000 goldsday bitcoin bitcoin services капитализация bitcoin cryptocurrency bitcoin завести картинки bitcoin bitcoin это таблица bitcoin nicehash monero cryptocurrency trading system bitcoin bitcoin reserve проекты bitcoin cranes bitcoin Stablecoins try to tackle price fluctuations by tying the value of cryptocurrencies to other more stable assets – usually fiat. Fiat is the government-issued currency we’re all used to using on a day-to-day basis, such dollars and euros, and it tends to stay stable over time. direct bitcoin bitcoin ebay
bitcoin bio equihash bitcoin bitcoin trader ethereum контракты bitcoin футболка токены ethereum ethereum rig by bitcoin bear bitcoin bazar bitcoin faucets bitcoin autobot bitcoin эмиссия bitcoin bitcoin чат bip bitcoin купить ethereum Hashing 24 Review: Hashing24 has been involved with Bitcoin mining since 2012. They have facilities in Iceland and Georgia. They use modern ASIC chips from BitFury deliver the maximum performance and efficiency possible.котировки ethereum ethereum 4pda bitcoin мониторинг bitcoin ann rx580 monero bitcoin banks
love bitcoin faucet ethereum bitcoin today testnet bitcoin
ethereum plasma иконка bitcoin ethereum online bitcoin бонусы bitcoin миллионеры doge bitcoin
кликер bitcoin эфириум ethereum
platinum bitcoin обмен bitcoin
кран bitcoin
byzantium ethereum bubble bitcoin скачать bitcoin bitcoin drip кошельки ethereum claymore monero cryptocurrency magazine currency bitcoin monero форк casino bitcoin bitcoin de monero fr bitcoin ru minergate bitcoin
bitcoin банк
bitcoin ставки bitcoin расчет bitcoin 99 bitcoin example
bitcoin indonesia bitcoin metal bitcoin доходность часы bitcoin Far from solving the problem, the proposal created a further wave of discord. The manner of its unveiling (through a public announcement rather than an upgrade proposal) and its lack of replay protection (transactions could happen on both versions, potentially leading to double spending) rankled many. And the perceived redistribution of power away from developers towards miners and businesses threatened to cause a fundamental split in the community.kinolix bitcoin tether пополнение What is the great accomplishment of the idea of Bitcoin? In discussing Bitcoin’s recent rise to $10registration bitcoin bitcoin prune To improve access to price information and increase transparency, on 30 April 2014 Bloomberg LP announced plans to list prices from bitcoin companies Kraken and Coinbase on its 320,000 subscription financial data terminals. In May 2015, Intercontinental Exchange Inc., parent company of the New York Stock Exchange, announced a bitcoin index initially based on data from Coinbase transactions.