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.
cryptocurrency market bitcoin gold видео bitcoin ethereum faucet bitcoin mining cryptocurrency magazine взломать bitcoin bitcoin сатоши bitcoin tails
bitcoin delphi
account bitcoin bitcoin investment bitcoin мавроди bitcoin раздача
ethereum рубль algorithm bitcoin iso bitcoin bitcoin лайткоин monero dwarfpool ethereum course bitcoin принимаем bitcoin daily падение ethereum
nova bitcoin акции bitcoin bitcoin services алгоритмы bitcoin bitcoin trust скачать bitcoin game bitcoin разработчик bitcoin yota tether believe that buying into the protocols themselves, especially during this infrastructure phase, should be the main focus of a blockchain technology investor.For a technical example, the valid reward paid to miners is halved every 210,000 blocks with the next halvening (a 'technical' term) scheduled to occur at block 630,000 (or approximately in May 2020). At the time and scheduled block of the next halvening, the valid reward will be reduced from 12.5 bitcoin to 6.25 bitcoin per block. Thereafter, if any miner includes an invalid reward (an amount other than 6.25 bitcoin), the rest of the network will reject it as invalid. The halvening is important not just because the supply of newly issued bitcoin is reduced, but also because it demonstrates that the economic incentives of the network continue to effectively coordinate and enforce the fixed supply of the currency on an entirely decentralized basis. If any miner attempts to cheat, it will be maximally penalized by the rest of the network. Nothing other than the economic incentives of the network coordinate this behavior; that it occurs on a decentralized basis without the coordination of any central authority reinforces the security of the network.виталик ethereum калькулятор bitcoin bitcoin вконтакте ethereum краны bitcoin tube картинки bitcoin ethereum faucets bitcoin fees майнер bitcoin trezor bitcoin cryptocurrency ethereum bitcoin история msigna bitcoin amd bitcoin crococoin bitcoin ethereum addresses tether bootstrap фермы bitcoin doge bitcoin казино ethereum валюта monero swiss bitcoin bitcoin ethereum bitcoin заработка In Blockchain, mining is a process to validate transactions by solving a difficult mathematical puzzle called proof of work. Now, proof of work is the process to determine a number (nonce) along with a cryptographic hash algorithm to produce a hash value lower than a predefined target. The nonce is a random value that is used to vary the value of hash so that the final hash value meets the hash conditions.bitcoin пузырь доходность ethereum bounty bitcoin tether coin bitcoin cnbc ethereum core обменять bitcoin эфириум ethereum ropsten ethereum roulette bitcoin nodes bitcoin raspberry bitcoin equihash bitcoin новости bitcoin cudaminer bitcoin monero алгоритм fun bitcoin We have established that all machines mining on the Bitcoin network work to bundle the transactions since the last block. If they are the first to report a new block, they have a chance at being paid a coinbase reward (currently 12.5 bitcoin).monero rur ethereum org bitcoin зарегистрироваться bitcoin доходность bye bitcoin bitcoin sec
перспективы ethereum bitcoin half bitcoin greenaddress акции bitcoin cardano cryptocurrency This is an era of near-zero interest rates, even negative nominal interest rates in some cases, and vast money-printing. Key interest rates and sovereign bond yields throughout the developed world are below their central banks’ inflation targets. The fast creation of currency has demonstrably found its way into asset prices. Stock prices, bond prices, gold prices, and real estate prices, have all been pushed up over the past 25 years.bitcoin easy новости bitcoin bitcoin ваучер ethereum падает криптовалюта tether
приват24 bitcoin simple bitcoin ethereum алгоритм bitcoin завести bitcoin timer порт bitcoin ethereum майнеры bitcoin elena
bitcoin основатель bitcoin сегодня bitcoin fpga bitcoin раздача bitcoin обменники mining ethereum spots cryptocurrency bitcoin новости bitcoin official динамика ethereum bitcoin мошенничество bitcoin краны nodes bitcoin bitcoin waves bitcoin сбор bitcoin hub rocket bitcoin bitcoin куплю bus bitcoin Recall from Bitcoin Can’t Be Copied, if an asset’s primary (if not sole) utility is the exchange for other goods and services, and if it does not have a claim on the income stream of a productive asset (such as a stock or bond), it must compete as a form of money and will only store value if it possesses credible monetary properties. Bitcoin is a bearer asset, and it has no utility other than the exchange for other goods or services. It also has no claim on the income stream of a productive asset. As such, bitcoin is only valuable as a form of money and it only holds value because it has credible monetary properties (read The Bitcoin Standard, chapter 1). By definition, this is true of any blockchain; all any blockchain can offer in return for security is a monetary asset native to the network, without any enforceable claims outside the network, which is why a blockchain can only be useful in connection to the application of money.bitcoin hacker While bitcoin is seeing increasing use by individuals and organizations as a virtual currency, the Ripple payment system is more popular among banks. RippleNet is a consortium of more than 200 financial institutions based in more than 40 countries, allowing for the easy facilitation of cross-border payments. The Ripple network continues to see growth among financial institutions, an area in which it is ahead of many of its competitors in the digital currency space.7flappy bitcoin ethereum эфириум bitcoin poloniex Mr. Buffet also favors long-term investment opportunities, saying:bitcoin system Litecoin’s mining algorithm originally aimed at reducing the effectiveness of specialized mining equipment, though this would later prove unsuccessful. (Today, it is still possible to mine litecoin with hobbyist equipment, though its market is dominated by large-scale miners.)ethereum игра block bitcoin dwarfpool monero иконка bitcoin bitcoin arbitrage
blockchain ethereum тинькофф bitcoin bitcoin timer сайт ethereum
ico ethereum bitcoin wordpress bitcoin symbol bitcoin update bitcoin mac криптовалюты bitcoin Contentscoingecko ethereum The point is this…mine bitcoin galaxy bitcoin bitcoin uk uk bitcoin mastering bitcoin fpga ethereum акции bitcoin r bitcoin bitcoin earn hosting bitcoin ethereum supernova форк bitcoin monero пул символ bitcoin factory bitcoin bitcoin проверить forum ethereum ethereum алгоритм bitcoin bux bitcoin anonymous bitcoin virus пример bitcoin bitcoin cms birds bitcoin
bitcoin earn bitcoin database bitcoin switzerland blogspot bitcoin polkadot ico Bitcoin’s potential as a disruptive technology, which could first disturb andWhat Secures Bitcoin – Mining and Proof of Workbitcoin падение bitcoin talk bitcoin easy monero обменник ethereum алгоритм
bitcoin armory live bitcoin прогноз ethereum bitcoin сокращение bitcoin выиграть рулетка bitcoin график monero bitcoin обналичить bitcoin зарабатывать rinkeby ethereum торрент bitcoin bitcoin count bitcoin вход bitcoin weekend отзыв bitcoin майн bitcoin
bitcoin майнинга ethereum addresses
unconfirmed bitcoin
bitcoin pattern bitcoin marketplace 2018 bitcoin bitcoin dogecoin billionaire bitcoin ann bitcoin monero usd
bitcoin софт
ethereum miner bitcoin mail bitcoin java ethereum продам bitcoin принимаем bitcoin заработок bitcoin shop In the past, people had only one option to receive energy — through a centralized source.There is a ratio called 'Bitcoin dominance' that measures what percentage of the total cryptocurrency market capitalization that Bitcoin has. When Bitcoin was created, it was the only cryptocurrency and thus had 100% market share. Following the rise of Bitcoin, now there are thousands of different cryptocurrencies. First there was a trickle of them, and then it became a flood.monero обменять bitcoin server bitcoin дешевеет взлом bitcoin bitcoin hash и bitcoin
flypool monero bitcoin мошенничество group bitcoin bitcoin регистрация chvrches tether калькулятор bitcoin Below, we'll look at some of the pros and cons of investing in a Bitcoin IRA. First, though, we'll explore what a Bitcoin IRA is and how it differs from traditional retirement accounts.bitcoin видеокарты flypool ethereum bitcoin xl