Litecoin is one of the first cryptocurrencies derived from Bitcoin which tried to address some of the original cryptocurrency’s adoption issues. Since its creation, through a fork of the Bitcoin code, in 2011, Litecoin has experienced its ups and downs but managed to hold the interest of the crypto community and remain a top 10 cryptocurrency. Even so, it faces stiff competition from other protocols such as Bitcoin Cash and Bitcoin SV in its positioning as a viable protocol for mass on-chain transactions.
Beginnings
Litecoin (LTC) is a peer-to-peer digital currency based on a decentralized, open source blockchain network. It was created in 2011 by the MIT graduate and former Google employee Charlie Lee.
Lee designed Litecoin based on the Bitcoin code and protocol, with some modifications that he believed addressed certain barriers to its wider adoption. Firstly, the block confirmation time is 4 times lower on Litecoin compared to Bitcoin (2.5 min vs. 10 min) which allows Litecoin to confirm transactions much faster. Another difference is the limit on the maximum amount of coins: for Bitcoin it is 21M, while for Litecoin – 84M. Finally, some technical elements of Litecoin make it less susceptible to centralization of mining operations and more attractive to smaller-scale miners.
Litecoin was one of the first altcoins to spring from the Bitcoin protocol. It was initially marketed and is still often referred to as “silver to Bitcoin’s gold”. Since its beginnings in 2011, Litecoin has seen its ups and down, but overall it managed to establish a solid market thanks to its flexible strategy and fast adoption of innovations. In 2017, Litecoin was a first-mover in adopting Segregated Witness (SegWit) and the Lightning Network. Less successful was Litecoin’s venture with the merchant solution LitePay in 2018. The project had to be shut down, which prompted Charlie Lee to issue an apology.
The development of the Litecoin project is overseen by a non-profit Singapore-based Litecoin Foundation, with Charlie Lee as a managing director. Although the Foundation and the development team are independent from each other, the Foundation provides financial support to the team.
Uses
Litecoin functionality is overall quite similar to Bitcoin, i.e. it is meant to be a digital currency which is free from any centralized influence. The LTC philosophy is formulated by the Litecoin Foundation on their website, “We Believe That When It Comes To Your Money, You Deserve 100%”. The statement generally refers to the promises common to most cryptocurrencies: constant availability and absolute control of the funds by the owners, and the accessibility to everyone.
LTC can be purchased on any major crypto exchange, and stored in digital wallets, specialized hardware, or crypto custody providers. Proponents of Litecoin claim that its competitive advantage is that it allows fast and cheap transactions. Starting with the low transaction fees from the beginning, in 2018 Litecoin updated its native software Litecoin Core to slash the fees further by 90%, in an attempt to increase adoption rates.
Speed and low fees should make it attractive for individuals to use Litecoin for peer-to-peer transfers and digital purchases, and for businesses – as a payment system. In 2018, Litecoin started a marketing Twitter campaign #PayWithLitecoin to popularize the currency as a means of payment. However, the list of businesses accepting it remains limited.
As most crypto assets, LTC experienced some serious price volatility since it started trading. The price has reached its peak above $300 in the end of 2017. During 2020, LTC was mostly trailing just below the $50 mark. As of October 2020, Litecoin is a number 7 cryptocurrency by market capitalization with a $3.6B market cap (for comparison, Bitcoin’s market cap is $256B).
Outlook
In 2020, one of the most interesting trends in Litecoin development is the work on MimbleWimble.. In blockchain, the MimbleWimble protocol works to ensure the privacy of the transactions by preventing any sharing of the information about sender and receiver’s addresses, or the amount sent. Even as some doubts remain about MimbleWimble’s robustness, its implementation with Litecoin could prove significant for the cryptocurrency’s long-term usefulness. The MimbleWimble testnet was launched on Litecoin at the end of September 2020 and was later relaunched due to low community engagement in the first deployment.
Another interesting development that could influence the future of Litecoin is its venture into the gaming industry. In 2020, Litecoin started collaborations with two gaming companies – Atari and CipSoft. Atari, a creator of games like Asteroids and Centipedes, has incorporated Litecoin as a payment method in the games, alongside with its native Atari token. In partnership with CipSoft, Litecoin developed a decentralized game – LiteBringer. The gaming industry has a huge potential for blockchain developers, and Litecoin looks to position itself as a useful technology in the industry.
On the whole, Litecoin’s development and usage trails that of other top ten cryptocurrencies as the industry grows beyond a simple focus on payments and looks towards the wider horizons of Web 3.0.
bitcoin pools bitcoin бумажник bitcoin сервер
polkadot блог
500000 bitcoin buy tether bitcoin миллионеры ethereum токены Ethereum allows users to build dApps and set up smart contracts. Smart contracts can guide lots of different types of transactions, including cryptocurrency trading. They could also be used to guide a company’s payroll, the rent agreement on your car, or even the purchase of a house.bitcoin программирование Bitcoin’s two biggest weaknesses—slow transaction speed and price—are considerably lessened with Litecoin.краны ethereum алгоритм bitcoin ledger bitcoin homestead ethereum ethereum картинки bitcoin neteller bitcoin сборщик difficulty ethereum bitcoin в ethereum siacoin bitcoin аккаунт bitcoin 4000 bitcoin etf bitcoin etf обновление ethereum bitcoin скрипт bitcoin символ finex bitcoin
wordpress bitcoin bear bitcoin продам bitcoin bitcoin значок cryptocurrency market bitcoin стратегия bitcoin акции bitcoin значок bitcoin red bitcoin steam bitcoin адреса forbot bitcoin bitcoin страна weekly bitcoin bitcoin торговля dwarfpool monero bitcoin forecast monero майнинг ставки bitcoin bitcoin мастернода nanopool ethereum up bitcoin bitcoin armory полевые bitcoin краны ethereum ethereum wikipedia ethereum новости отзывы ethereum bloomberg bitcoin bitcoin word bitcoin основатель криптовалюту monero bitcoin шрифт bitcoin rpg значок bitcoin bitcoin xl bitcoin save bitcoin ira korbit bitcoin bitcoin api bitcoin проект bitcoin сайты
ethereum course cryptocurrency trading bitcoin скрипт 6000 bitcoin ethereum картинки
tether addon
bitcoin xl bitcoin plus
nicehash bitcoin ethereum ico bittrex bitcoin cryptocurrency ico bitcoin passphrase bitcoin разделился
ann bitcoin 15 bitcoin транзакция bitcoin bitcoin usa платформу ethereum wisdom bitcoin
bitcoin grant bitcoin lucky платформе ethereum capitalization bitcoin click bitcoin новости monero bitcoin лохотрон
ethereum алгоритмы bitcoin hacker 6000 bitcoin bitcoin рухнул ethereum конвертер bitcoin monkey bitcoin php electrum bitcoin bitcoin иконка bitcoin shop bitcoin virus
bitcoin матрица tether программа local bitcoin top tether bitcoin mine bitcoin stellar A Way to Express Value, One-to-Onebitcoin compare
bitcoin io monero ann usa bitcoin change bitcoin вебмани bitcoin технология bitcoin bitcoin деньги darkcoin bitcoin secp256k1 bitcoin cryptocurrency chart оплатить bitcoin bitcoin 2048 скачать bitcoin bitcoin poker bitcoin автосерфинг tether скачать ethereum mist bitcoin значок
bitcoin cgminer торги bitcoin заработок ethereum bitcoin rub
view bitcoin raspberry bitcoin pow bitcoin purse bitcoin bitcoin skrill майн bitcoin ethereum покупка instant bitcoin bitcoin комбайн bitcoin png gain bitcoin polkadot cadaver bittrex bitcoin bitcoin girls bitcoin server bitcoin создатель статистика ethereum ethereum microsoft chaindata ethereum япония bitcoin bitcoin links tether комиссии bitcoin elena bitcoin hosting bitcoin frog bitcoin loan bitcoin курс fpga ethereum бумажник bitcoin майнеры monero ethereum 1070 bitcoin rub bitcoin список bitcoin сделки
bitcoin 2018
bitcoin 2020 символ bitcoin кран ethereum bitcoin online bitcoin email anomayzer bitcoin
exchange monero куплю bitcoin bitcoin мошенники gain bitcoin bitcoin кэш bitcoin journal monero bitcoin russia рулетка bitcoin ethereum info
1080 ethereum korbit bitcoin bitcoin qr bitcoin center credit bitcoin ethereum сбербанк bitcoin drip
tokens ethereum
japan bitcoin картинки bitcoin 5 bitcoin bitcoin elena flash bitcoin
erc20 ethereum bitcoin talk Bram Cohen: Creator of BitTorrentGain expertise in core Blockchain conceptsVIEW COURSEBlockchain Certification Training Coursebitcoin hype знак bitcoin ethereum проблемы bitcoin шахты bitcoin multiplier world bitcoin average bitcoin all cryptocurrency finney ethereum
bitcoin earnings bitcoin simple bitcoin развод ethereum web3 chain bitcoin ethereum пулы
обмен tether bitcoin коллектор bitcoin nvidia bitcoin гарант monero usd
bitcoin комментарии протокол bitcoin bitcoin зарегистрироваться roll bitcoin
bitcoin сети
cryptocurrency wallets frontier ethereum oil bitcoin decred cryptocurrency
deep bitcoin bitcoin продам bitcoin книги карты bitcoin plasma ethereum bitcoin gambling bitcoin вконтакте форки bitcoin bitcoin торговля и bitcoin bitcoin вектор ethereum russia фарминг bitcoin bitcoin сервисы lealana bitcoin биржа monero torrent bitcoin bitcoin проект live bitcoin
ethereum пул doge bitcoin wisdom bitcoin bitcoin protocol
bitcoin торги
bitcoin faucet bitcoin trojan
bitcoin инструкция ethereum poloniex mine ethereum people bitcoin monero hashrate особенности ethereum ccminer monero 50000 bitcoin ledger bitcoin
ethereum транзакции bitcoin paw bitcoin россия daily bitcoin bitcoin reserve ethereum clix bitcoin nodes bitcoin скачать ethereum dag mooning bitcoin chain bitcoin pools bitcoin moneypolo bitcoin bitcoin ru магазины bitcoin frog bitcoin bitcoin 9000 ethereum addresses bye bitcoin bitcoin crash atm bitcoin polkadot ico
заработок ethereum
bitcoin capital bitcoin school bitcoin динамика cryptocurrency ethereum bitcoin income технология bitcoin bitcoin вход курса ethereum
bitcoin mmgp bitcoin анонимность There’s no way to determine a precise inherent Bitcoin value, but there are certain back-of-the-envelope calculations that can give us a reasonable magnitude estimate for the value of bitcoins or other cryptocurrencies based on certain assumptions.bitcoin word ethereum cryptocurrency cgminer monero tether addon
удвоитель bitcoin
alpha bitcoin
реклама bitcoin терминалы bitcoin collector bitcoin ethereum script bitcoin conf вывод monero bitcoin london пожертвование bitcoin курс ethereum bitcoin приват24 bitcoin rt alpha bitcoin ethereum ферма get bitcoin to bitcoin wifi tether hacking bitcoin space bitcoin super bitcoin monero форум platinum bitcoin
краны ethereum bitcoin магазин joker bitcoin tracker bitcoin bitcoin etherium bitcoin fire bitcoin миллионеры micro bitcoin bitcointalk ethereum bitcoin nodes расчет bitcoin bitcoin протокол
double bitcoin bitcoin 123 расчет bitcoin bitcoin security ethereum asic bitcoin froggy bitcoin farm bitcoin weekend fast bitcoin ethereum видеокарты bitcoin money usb tether download bitcoin ethereum stratum json bitcoin faucets bitcoin пицца bitcoin ethereum web3 explorer ethereum
игра ethereum
monero обменник local ethereum ethereum клиент
hashrate bitcoin my ethereum
bitcoin майнер opencart bitcoin get bitcoin free bitcoin exchange ethereum
chaindata ethereum monero майнинг xbt bitcoin развод bitcoin отдам bitcoin Similarly, ever since Satoshi solved the hard parts of digital scarcity and published the method for the world to see, it’s easy to make a new cryptocurrency. The nearly impossible part is to make one that is trusted, secure, and with sustained demand, which are all traits that Bitcoin has.If you feel like Monero mining is for you, then you can use the information in this guide to start mining!logo ethereum Transactions that occur through the use and exchange of these altcoins are independent from formal banking systems, and therefore can make tax evasion simpler for individuals. Since charting taxable income is based upon what a recipient reports to the revenue service, it becomes extremely difficult to account for transactions made using existing cryptocurrencies, a mode of exchange that is complex and difficult to track.ethereum покупка film bitcoin ethereum supernova apk tether
usb tether bitcoin trojan ethereum complexity monero coin bitcoin книга bitcoin quotes
bitcoin зарегистрироваться zona bitcoin cubits bitcoin monero майнинг конвертер ethereum bitcoin easy ethereum кошелька bitcoin video bitcoin bitcoin вконтакте проект ethereum bitcoin casascius лотерея bitcoin bitcoin курс hashrate bitcoin
iota cryptocurrency
wmz bitcoin bitcoin книги киа bitcoin dollar bitcoin и bitcoin
2016 bitcoin ethereum news bitcoin рулетка bitcoin cz ethereum android пример bitcoin mikrotik bitcoin monero ico monero minergate эмиссия ethereum bitcoin комиссия bitcoin usb bitcoin s fpga ethereum курс ethereum blitz bitcoin создатель bitcoin tether addon окупаемость bitcoin advcash bitcoin ethereum отзывы neo cryptocurrency bitcoin difficulty bitcoin прогноз weekend bitcoin
bitcoin халява payable ethereum bitcoin service сбербанк bitcoin ethereum хешрейт bitcoin логотип monero windows
bitcoin rotator accepts bitcoin bloomberg bitcoin byzantium ethereum de bitcoin
ethereum chart bitcoin бизнес golden bitcoin bitcoin стратегия биржи monero asics bitcoin tether provisioning monero calculator проекты bitcoin bitcoin express bitcoin de bitcoin brokers uk bitcoin bitcoin scripting maps bitcoin bitcoin обменник обменники bitcoin bitcoin anonymous phoenix bitcoin hyip bitcoin продам ethereum metatrader bitcoin автокран bitcoin monero прогноз keepkey bitcoin проекта ethereum solidity ethereum перевод tether дешевеет bitcoin bitcoin node mindgate bitcoin кран bitcoin bitcoin трейдинг
bitcoin kurs bitcoin logo bitcoin shop ad bitcoin
exchange monero
map bitcoin ropsten ethereum
tether io bitcoin addnode bitcoin data block bitcoin cryptocurrency wallet проекты bitcoin биржи ethereum
tether android up bitcoin tether android bitcoin best Some of the benefits of this method are:ethereum twitter халява bitcoin bitcoin 10 приват24 bitcoin bitcoin key cryptocurrency magazine создатель ethereum bitcoin расчет купить ethereum математика bitcoin flappy bitcoin exmo bitcoin bitcoin habrahabr bitcoin математика bitcoin hacker monster bitcoin tether android курса ethereum bitcoin steam
шифрование bitcoin ethereum покупка logo ethereum bitcoin mmgp bitcoin проект magic bitcoin описание ethereum bitcoin maps
mercado bitcoin
swarm ethereum майнинга bitcoin
bitcoin account bitcoin price
playstation bitcoin ethereum транзакции statistics bitcoin bitcoin site
ethereum ico
тинькофф bitcoin bitcoin swiss monero dwarfpool unconfirmed monero bot bitcoin bitcoin википедия ethereum pools bitcoin вклады bitcoin бонус dorks bitcoin bitcoin компьютер billionaire bitcoin bitcoin мавроди
bitcoin заработка ферма ethereum bitcoin status bitcoin расшифровка дешевеет bitcoin цены bitcoin ethereum blockchain cryptocurrency calendar ethereum calc bitcoin alliance bitcoin account Cryptocurrency mining pools are groups of miners who share their computational resources.nodes bitcoin tether верификация bitcoin it
bitcoin vps bitcoin бесплатно bitcoin qr фарминг bitcoin
poker bitcoin bitcoin air ethereum скачать bitcoin datadir bitcoin transaction bitcoin вконтакте bitcoin exchanges bitcoin links ethereum android bitcoin addnode bitcoin cli bitcoin school bitcoin litecoin 999 bitcoin bitcoin banking
эфир bitcoin bitcoin fun ethereum кошелька Genesis Mining Review: Genesis Mining is the largest Bitcoin and scrypt cloud mining provider.заработать monero
bitcoin ферма Created as an alternative to regular/fiat currencies (i.e. USD, EUR, JPY, etc.);