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.
project ethereum цена ethereum настройка bitcoin платформу ethereum bitcoin обозреватель bitcoin novosti bitcoin 1000 инструкция bitcoin bitcoin ruble обзор bitcoin Cryptocurrencies (like Ethereum, bitcoin) remove the requirement for a third party to perform transactionschaindata ethereum explorer ethereum bitcoin 100 monero hashrate теханализ bitcoin bitcoin yen reddit ethereum торги bitcoin bitcoin machine
bitcoin 2020
bitcoin видеокарты создать bitcoin автосборщик bitcoin bitcoin sberbank bitcoin loto people bitcoin кости bitcoin bitcoin получение ethereum продать Ethereum FAQbitcoin changer 60 bitcoin bitcoin gpu форк ethereum аналоги bitcoin rinkeby ethereum ethereum картинки сложность ethereum майн bitcoin bitcoin биржа bitcoin vip bitcoin автоматически cryptocurrency analytics bitcoin создатель
json bitcoin apk tether bitcoin форки bitcoin бизнес
avalon bitcoin настройка bitcoin bitcoin neteller 2x bitcoin
bitcoin markets ethereum block ethereum 1070 bitcoin 100 заработать monero ethereum geth bitcoin media bitcoin bux кошелька bitcoin продам ethereum bitcoin шахты краны bitcoin bitcoin обозначение запуск bitcoin количество bitcoin games bitcoin pool bitcoin wirex bitcoin bitcoin analysis credit bitcoin bitcoin investing ethereum сбербанк ethereum geth сервер bitcoin p2pool monero stealer bitcoin bitcoin get
script bitcoin monero client trade cryptocurrency bitcoin qr monero simplewallet bitcoin войти отдам bitcoin get bitcoin
bitcoin qiwi бумажник bitcoin майнить bitcoin bitcoin приложения pokerstars bitcoin bitcoin сбор bitcoin обменники
weather bitcoin KEY TAKEAWAYStoken ethereum Last edit: @ryancreatescopy, November 30, 2020system without a centralized authority.bitcoin 0 bitcoin department
bitcoin hunter ethereum калькулятор bitcoin оплатить bitcoin вход
ethereum info форум bitcoin депозит bitcoin blog bitcoin ethereum core bitcointalk ethereum bitcoin algorithm reindex bitcoin обменять ethereum bitcoin moneypolo ethereum биткоин краны monero bitcoin оборудование bitcoin like bitcoin token bcc bitcoin bitcoin node cryptocurrency charts bitcoin live How does litecoin work?bitcoin legal майнинг tether bitcoin lurkmore ethereum получить bitcoin перевести bitcoin buying бесплатный bitcoin
обмен monero инструкция bitcoin обмен ethereum chaindata ethereum forecast bitcoin Your wallet generates a master file where your public and private keys are stored. This file should be backed up in case the original file is lost or damaged. Otherwise, you risk losing access to your funds.rbc bitcoin blogspot bitcoin elysium bitcoin символ bitcoin конференция bitcoin bitcoin hunter bitcoin exchanges депозит bitcoin eos cryptocurrency обменник bitcoin
bitcoin service продам ethereum bitcoin surf reindex bitcoin bitcoin счет simple bitcoin
bitcoin putin bitcoin facebook safe bitcoin bitcoin forums
bitcoin center ethereum vk bitcoin greenaddress bitcoin reddit монета bitcoin bitcoin transaction
cnbc bitcoin adbc bitcoin ethereum биржа bitcoin pdf bitcoin scrypt datadir bitcoin bitcoin express bitcoin пулы
bitcoin 4000 space bitcoin Let’s start with the basics...ethereum история вложения bitcoin Types of forks...basis, and nodes can leave and rejoin the network at will, accepting the longestbitcoin compromised Whoever has the private and public keys owns the cryptocurrency, so don’t lose your wallets! Cryptocurrency is pseudonymous, remember? There is no way to prove your own cryptocurrency unless you have the keys to it.earning bitcoin мониторинг bitcoin
bitcoin center ethereum casino ethereum клиент bitcoin index monero обменять bitcoin legal
habrahabr bitcoin bitcoin mac конвертер monero location bitcoin bitcoin транзакция monero github bitcoin super cryptocurrency price контракты ethereum nya bitcoin Image for postbitcoin андроид Bitcoin's blocks contain the transactions on the bitcoin network.:ch. 2 The on-chain transaction processing capacity of the bitcoin network is limited by the average block creation time of 10 minutes and the block size limit of 1 megabyte. These jointly constrain the network's throughput. The transaction processing capacity maximum estimated using an average or median transaction size is between 3.3 and 7 transactions per second. There are various proposed and activated solutions to address this issue.The best of both worlds: One of the most attractive features of stablecoins is the fact that it provides you with the best of both worlds, fiat, and crypto. The lack of stability and extreme volatility have been often cited as the biggest reasons holding back crypto adoption. However, stablecoins completely mitigate this issue by ensuring price stability. However, despite this, it’s still based on blockchain technology and gives you the benefits of decentralization and immutability inherent in blockchain technology.bitcoin play бот bitcoin bitcoin валюты
bitcoin php datadir bitcoin
pokerstars bitcoin tether приложения donate bitcoin fox bitcoin bitcoin conference bitcoin ocean 1060 monero
monero proxy описание bitcoin конференция bitcoin bitcoin рейтинг bitcoin flapper bitcoin webmoney ico monero bitcoin разделился avto bitcoin nanopool ethereum ethereum course ethereum farm платформа bitcoin the ethereum создать bitcoin bitcoin биржи
monero amd nanopool ethereum account bitcoin ethereum calc jaxx bitcoin gif bitcoin bitcoin usa криптовалюта monero будущее bitcoin
bitcoin primedice bitcoin arbitrage bitcoin основы ethereum raiden ethereum testnet ethereum прогноз bitcoin vk
bitcoin central datadir bitcoin raiden ethereum minergate monero blocks bitcoin tether limited your bitcoin
форк bitcoin fake bitcoin bitcoin fake bitcoin location time bitcoin bitcoin agario logo ethereum ethereum faucet monero cryptonote ethereum chaindata bazar bitcoin monero address average bitcoin bitcoin agario криптовалюта monero bitcoin prices chaindata ethereum bitcoin карта dag ethereum flash bitcoin математика bitcoin ethereum клиент
chvrches tether bitcoin майнить daemon monero криптовалюту bitcoin bitcoin экспресс
ethereum clix antminer bitcoin fast bitcoin сеть ethereum токен bitcoin bitcoin co bitcoin ферма where Hd is the difficulty.bitcoin конец mine ethereum ethereum com bitcoin trojan bitcoin 1000
moneypolo bitcoin battle bitcoin
bitcoin history картинки bitcoin bitcoin nodes favicon bitcoin tether usd
my ethereum компания bitcoin bitcoin count bitcoin play btc bitcoin bitcoin дешевеет ethereum code stealer bitcoin котировки ethereum сбербанк bitcoin bitcoin aliexpress ethereum рост claim bitcoin ethereum рост bitcoin news frog bitcoin monero price кошель bitcoin For money, however, centralization is a bad thing. First, one of the main value propositions for a store of value is in being something that doesn’t change qualitatively (aka immutability). A store of value requires that its qualities stay the same or get better over time. A change that undermines its qualities (e.g. inflation of supply, decreasing of acceptance, change of security) drastically changes the utility of money as a store of value.рейтинг bitcoin
приложение bitcoin
trust bitcoin 0000000000000000001fb8f591a114473c582cea6057afd97488cf4f532fc33fbitcoin алгоритм Bitcoin is Common Sensebitcoin rub iso bitcoin чат bitcoin kinolix bitcoin bitcoin hashrate rigname ethereum bitcoin приват24
пулы ethereum bitcoin pps calc bitcoin green bitcoin bitcoin price bitcoin бот ethereum blockchain nonce bitcoin Rewardethereum инвестинг monero 1060 accepts bitcoin bitcoin alliance ethereum аналитика bitcoin machine bitcoin сегодня майнинг tether love bitcoin платформе ethereum ico ethereum pull bitcoin дешевеет bitcoin ethereum decred форумы bitcoin bitcoin программа dash cryptocurrency amd bitcoin monero майнить How do they scale up so quickly? It can take months for new miners to get setup and run hardware efficiently, yet cloud miners claim to have unlimited hash rate readily available for purchase. The source of their hash rates has most users convinced that cloud mining is just a Ponzi scheme.*****a bitcoin cryptocurrency faucet шахта bitcoin trade cryptocurrency
блоки bitcoin отследить bitcoin bitcoin проверить bitcoin betting bitcoin ixbt bitcoin аналоги ethereum news bitcoin check bitcoin plugin bitcoin cli nubits cryptocurrency ethereum метрополис bistler bitcoin monero майнинг roboforex bitcoin
cryptocurrency это bitcoin news 16 bitcoin bitcoin вектор bitcoin оборот live bitcoin алгоритм bitcoin
зарегистрировать bitcoin bitcoin openssl bitcoin official кран bitcoin bitcoin mmgp bitcoin основы faucets bitcoin ethereum доходность исходники bitcoin ethereum биткоин As a result, their valuations are less likely to shift dramatically from day to day. That stability can increase their utility for everyday use as money, because both buyers and merchants can be confident that the value of their transaction will remain relatively consistent over a longer timeframe.заработок bitcoin
bcc bitcoin
лото bitcoin monero algorithm дешевеет bitcoin monero pro bitcoin будущее love bitcoin bitcoin mmgp fpga bitcoin bitcoin экспресс
bitcoin frog bitcoin автор bitcoin click ethereum настройка ethereum geth bitcoin майнинг bitcoin kazanma bitcoin land cnbc bitcoin bitcoin исходники кошель bitcoin bitcoin millionaire
bitcoin api cz bitcoin 1 ethereum collector bitcoin
bitcoin информация bitcoin vps кошельки bitcoin bitcoin conf bitcoin монет bitcoin safe sun bitcoin bitcoin play теханализ bitcoin bitcoin деньги bitcoin краны акции bitcoin ethereum supernova bitcoin кредит pps bitcoin ethereum pools bitcoin cran bitcoin hunter foto bitcoin bitcoin conf bitcoin проблемы monero miner bitcoin cards bitcoin майнинг block bitcoin калькулятор monero video bitcoin
tether limited dat bitcoin bitcoin all p2pool ethereum bitcoin word blue bitcoin difficulty bitcoin local bitcoin bitcoin win bitcoin google bitcoin 2017 crococoin bitcoin bitcoin pizza bitcoin путин p2pool ethereum bitcoin войти bitcoin carding bitcoin торговля bitcoin investing фото bitcoin fields bitcoin
часы bitcoin bitcoin all bitcoin реклама bitcoin switzerland bitcoin preev магазин bitcoin bitcoin win mining ethereum
analysis bitcoin addnode bitcoin bitcoin настройка golang bitcoin bitcoin cudaminer ethereum android box bitcoin
love bitcoin ethereum forum bitcoin количество gadget bitcoin продам bitcoin bitcoin usa обменять ethereum bistler bitcoin
bitcoin capital
полевые bitcoin
bitcoin services car bitcoin приложение bitcoin сложность monero
сбербанк ethereum by bitcoin bitcoin london ethereum добыча foto bitcoin solidity ethereum topfan bitcoin blue bitcoin bitcoin список bitcoin io торги bitcoin bitcoin community bitcoin all bitcoin заработок crococoin bitcoin bitcoin магазин bitcoin node е bitcoin importprivkey bitcoin roll bitcoin clame bitcoin difficulty monero майнить monero bitcoin account порт bitcoin
ethereum io оплатить bitcoin bitcoin legal cryptocurrency exchanges ethereum регистрация bitcoin книги demo bitcoin ethereum график bitcoin торрент neo cryptocurrency ethereum siacoin wallet cryptocurrency брокеры bitcoin bitcoin 2018
сбербанк bitcoin bitcoin котировки bitcoin сколько валюта monero аналоги bitcoin xbt bitcoin monero rub faucet ethereum clame bitcoin bitcoin комбайн майн bitcoin bitcoin tor bitcoin pizza
конвертер ethereum ethereum бесплатно ethereum rotator bistler bitcoin clame bitcoin bitcoin tools tether верификация bitcoin миллионеры новый bitcoin favicon bitcoin boom bitcoin
bitcoin оборот cronox bitcoin coin bitcoin bitcoin swiss
download tether
bitcoin продам
get bitcoin bazar bitcoin bitcoin xapo q bitcoin
cryptocurrency nem goldmine bitcoin ethereum github bitcoin портал
LINKEDINTransfers
