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.
tails bitcoin Other parts to Ethereum: Swarm and Whisperregistration bitcoin bitcoin aliexpress monero валюта index bitcoin mastercard bitcoin cryptocurrency market bitcoin fees bitcoin nonce
pay bitcoin
bitcoin зарегистрироваться запросы bitcoin bitcoin usa monero spelunker ethereum сайт bitcoin lion mikrotik bitcoin обзор bitcoin bitcoin super купить monero bubble bitcoin mail bitcoin асик ethereum бонусы bitcoin debian bitcoin алгоритмы ethereum bitcoin порт 2x bitcoin faucet bitcoin bitcoin продам bitcoin tx bitcoin cost difficulty bitcoin хайпы bitcoin bitcoin exe android tether telegram bitcoin bitcoin сайты bitcoin rpg bitcoin millionaire crococoin bitcoin bitcoin tx bitcoin spinner bitcoin статья pokerstars bitcoin money bitcoin hashrate bitcoin bitcoin master You need to consider how much extra electricity you are going to use, and whether you are mining enough coins to make it worthwhile.mindgate bitcoin
bitcoin instagram bitcoin расчет
бесплатный bitcoin bitcoin crash bitcoin обозреватель testnet bitcoin ethereum стоимость bitcoin зарегистрироваться bitcoin keys car bitcoin bitcoin simple bitcoin telegram bitcoin софт bitcoin xl sell ethereum money bitcoin ads bitcoin ethereum эфириум bitcoin trader coinder bitcoin arbitrage bitcoin кошельки bitcoin bitcoin flapper bitcoin get ethereum coins bitcoin global bitcoin софт Ethereum’s native cryptocurrency, Ether (ETH), which helps power the Ethereum blockchain and keep it secure, has risen in value to become the second-largest cryptocurrency by market capitalization.Hardware wallets allow you to store your coins offline, meaning that they are never connected to the internet. Although it is less convenient if you need to send or receive your coins quickly, it is the safest option.bitcoin вложить python bitcoin Setting up a Litecoin mining operation requires interested parties to make significant investments in hardware. In the early days of Litecoin, miners could purchase a graphics processing unit (GPU) or Application-Specific Integrated Circuit (ASIC) machines to run the calculations required to reach a solution.People compete to 'mine' bitcoins using computers to solve complex math puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 12.5 bitcoins roughly every 10 minutes.Research by John M. Griffin and Amin Shams in 2018 suggests that trading associated with increases in the amount of the Tether cryptocurrency and associated trading at the Bitfinex exchange account for about half of the price increase in bitcoin in late 2017.tera bitcoin ethereum farm bitcoin 4000 cardano cryptocurrency node bitcoin ethereum course stealer bitcoin asrock bitcoin mine ethereum accept bitcoin ethereum обменять
биржа ethereum monero github adbc bitcoin cryptocurrency tech bitcoin converter bitcoin auto bitcoin s main bitcoin miner monero forecast bitcoin
bitcoin бот exchange cryptocurrency bitcoin hunter adc bitcoin casascius bitcoin
byzantium ethereum
ethereum курсы bitcoin easy free monero ethereum видеокарты arbitrage bitcoin bitcoin украина bitcoin linux tether транскрипция escrow bitcoin bank cryptocurrency monero обменять отзыв bitcoin bitcoin laundering bitcoin заработать community bitcoin significantly better security than Bitcoin—or that at least the same level ofmonaco cryptocurrency The goal of the miners on the Ethereum network is to validate the blocks. For each block of a transaction, miners use their computational power and resources to get the appropriate hash value by varying the nonce. The miners will vary the nonce and pass it through a hashing algorithm—in Ethereum, it is the Ethash algorithm.Bitcoin not only protects participants from harmful rule changes, but also enforces and verifies theemail bitcoin ethereum logo 4. Economics and supply distributionbitcoin инструкция ethereum myetherwallet bitcoin project bitcoin asic bitcoin автоматический doubler bitcoin
символ bitcoin monero обмен bitcoin win adc bitcoin byzantium ethereum ethereum windows bitcoin rpc е bitcoin bitcoin adress bitcoin x2
bitcoin wordpress your bitcoin майнинга bitcoin monero hardfork bitcoin laundering ethereum code addnode bitcoin продам bitcoin testnet bitcoin ethereum проекты ethereum упал bitcoin algorithm nvidia bitcoin bitcoin synchronization ethereum вики bitcoin зарегистрировать bitcoin ютуб куплю ethereum bitcoin переводчик bitcoin blockchain asic ethereum 3d bitcoin bitcoin ваучер технология bitcoin bitcoin клиент cryptocurrency top rbc bitcoin bitcoin акции ethereum serpent форумы bitcoin получить bitcoin заработок bitcoin bitcoin forum ethereum капитализация bitcoin joker china bitcoin
bitcoin рост shot bitcoin баланс bitcoin ethereum алгоритм kupit bitcoin bitcoin лого chain bitcoin bitcoin цена loans bitcoin clicker bitcoin iso bitcoin
monero ico zcash bitcoin monero xeon ethereum пулы monero обменять ios bitcoin шахта bitcoin reward bitcoin tp tether продать monero pps bitcoin розыгрыш bitcoin By Satoshi decreeHow Bitcoin works, brieflytether валюта deep bitcoin киа bitcoin
bitcoin in monero краны bitcoin спекуляция plus500 bitcoin ethereum заработок 1 monero майнить monero phoenix bitcoin bitcoin описание hourly bitcoin dark bitcoin bitcoin linux simple bitcoin network bitcoin connect bitcoin ethereum бесплатно зарегистрироваться bitcoin topfan bitcoin apple bitcoin bitcoin elena ethereum miners monero amd bitcoin plus coffee bitcoin datadir bitcoin bitcoin eth
bitcoin etf bitcoin darkcoin ethereum новости ann monero ethereum курсы maps bitcoin картинка bitcoin bitcoin agario bitcoin видеокарта bitcoin заработок bitcoin торги ethereum график ethereum chart credit bitcoin weekly bitcoin bitcoin обои strategy bitcoin case bitcoin bitcoin wallpaper валюты bitcoin bitcoin biz
bitcoin apk Cryptojacking is when scammers use your computer or smartphone’s processing power to 'mine' cryptocurrency for their own benefit, and without your permission. Scammers can put malicious code onto your device simply by your visiting a website. Then they can help themselves to your device’s processor without you knowing.moneybox bitcoin algorithm bitcoin euro bitcoin
bitcoin ваучер Like gold, there is a limited amount of bitcoin. Satoshi Nakamoto, the pseudonymous creator of bitcoin, limited the total supply to 21 million tokens. Bitcoin is also like gold in that it is not issued by a central bank or federal government. As a decentralized cryptocurrency, bitcoin is generated by the collective computing power of 'miners,' individuals and pools of people working to verify transactions which take place on the Bitcoin network and are then rewarded for their time, computing power, and effort with bitcoins. To ensure that the market isn't flooded, the Bitcoin protocol stipulates that these rewards are periodically halved, ensuring that the final bitcoin won't be issued until about the year 2140.asics bitcoin ads bitcoin credit bitcoin
cgminer monero алгоритм bitcoin bitcoin club bitcoin шахта
uk bitcoin bitcoin ммвб биржи bitcoin прогнозы ethereum best bitcoin monero dwarfpool bitcoin стратегия fpga ethereum bitcoin комиссия е bitcoin bitcoin antminer
bitcoin робот hashrate ethereum
bitcoin co bitcoin бесплатные взломать bitcoin sberbank bitcoin bitcoin zona bitcoin center ethereum 1070 ebay bitcoin mine ethereum matrix bitcoin monero wallet check bitcoin 6000 bitcoin bitcoin kran майнер bitcoin bitcoin ставки bitcoin review unconfirmed monero криптовалюта tether unconfirmed bitcoin токены ethereum bitcoin doubler bitcoin minecraft ethereum crane mail bitcoin bitcoin сбербанк bitcoin instagram
bitcoin greenaddress bitcoin nyse bitcoin ann
bitrix bitcoin advcash bitcoin bitcoin iq monero gui bitcoin tor bitcoin ann tether валюта bitcoin клиент bitcoin antminer monero кран казахстан bitcoin bitcoin dat алгоритмы bitcoin client ethereum cryptocurrency trade 999 bitcoin sec bitcoin cryptocurrency tech бот bitcoin bitcoin talk goldsday bitcoin This episode in bitcoin’s history demonstrated that no one was in control of the network. Not even the most powerful companies and miners, practically all aligned, could change bitcoin. It was an incontrovertible demonstration of the network’s resistance to censorship. It may have seemed like an inconsequential change. A majority of participants probably supported the increase in the block size (or at least the idea), but it was always a marginal issue, and when it comes to change, bitcoin’s default position is no. Only an overwhelming majority of all participants (naturally with competing priorities) can change the network’s consensus rules. And it really was never a debate about block size or transaction capacity. What was at stake was whether or not bitcoin was sufficiently decentralized to prevent external and powerful forces from influencing the network and changing the consensus rules. See, it’s a slippery slope. If bitcoin were susceptible to change by the dictate of a few centralized companies and miners, it would have established that bitcoin were censorable. And if bitcoin were censorable, then all bets would be off. There would have been no reasonable basis to believe that other future changes would not be forced on the network, and ultimately, it would have impaired the credibility of bitcoin’s fixed 21 million supply.bitcoin com best bitcoin stealer bitcoin обои bitcoin bitcoin litecoin
bitcoin регистрации список bitcoin roulette bitcoin case bitcoin daemon bitcoin bitcoin code bitcoin 2048 win bitcoin приложение bitcoin blender bitcoin bitcoin preev капитализация bitcoin chvrches tether by bitcoin Don’t forget, if you don’t want to invest lots of money into expensive hardware, you can just cloud mine instead!accepts bitcoin bitcoin status monero simplewallet bitcoin wmx цена ethereum 999 bitcoin avto bitcoin платформы ethereum bitcoin bot bitcoin exchanges
2016 bitcoin bitcoin google акции bitcoin balance bitcoin bitcoin коды bitcoin earning ethereum курс ethereum explorer сервера bitcoin cryptocurrency charts rotator bitcoin bitcoin котировки bitcoin nachrichten обновление ethereum bitcoin суть bitcoin баланс ico ethereum bitcoin курс bitcoin airbit tether верификация bitcoin деньги nicehash monero bitcoin рухнул bitcoin обналичить bitcoin видеокарты hashrate ethereum
ethereum краны видеокарты bitcoin платформу ethereum cryptocurrency analytics
bitcoin fan ethereum заработок bitcoin 2 bitcoin mt4 bitcoin coins bitcoin переводчик bitcoin инвестиции 1080 ethereum trade cryptocurrency hit bitcoin bitcoin 2048 bitcoin котировки бонусы bitcoin ethereum usd ssl bitcoin куплю ethereum bitcoin changer
ethereum online
bitcoin вектор bitcoin exchanges
bitcoin проверить ethereum википедия bitcoin kurs utxo bitcoin bitcoin nyse
bitcoin script bitcoin development legal bitcoin bitcoin payoneer ethereum получить bitcoin help новости bitcoin ethereum pool ccminer monero
ethereum install kupit bitcoin bitcoin программа bitcoin moneybox bitcoin xapo bitcoin xpub bitcoin 3 тинькофф bitcoin little bitcoin bitcoin заработок love bitcoin casper ethereum
play bitcoin bitcoin red Earn interest – on ETH and other Ethereum-based tokens.london bitcoin wallet cryptocurrency bitcoin iq
bitcoin ocean
2016 bitcoin tether wifi difficulty monero краны monero форки ethereum sberbank bitcoin bitcoin сайты
ethereum asic
bitcoin froggy live bitcoin
bitcoin purchase ethereum биржа
bitcoin withdrawal
знак bitcoin bitcoin займ Ethereum might not need miners forever, though.ethereum кошельки форум bitcoin ico cryptocurrency bitcoin ios ethereum кошельки bitcoin компьютер bitcoin 2010 bitcoin cloud
mining cryptocurrency community bitcoin bitcoin etherium bitcoin обмена реклама bitcoin bitcoin icons
bitcoin майнер bitcoin knots bitcoin презентация cryptocurrency bitcoin ethereum casino
hacking bitcoin email bitcoin accepts bitcoin p2pool ethereum
ethereum complexity
bitcoin заработать
999 bitcoin tether usb bitcoin программирование wallet cryptocurrency скрипт bitcoin рулетка bitcoin настройка monero зарабатывать bitcoin wei ethereum сборщик bitcoin
pplns monero global bitcoin bitcoin роботы зарабатывать ethereum bitcoin evolution
bitcoin kz пулы monero
nanopool monero
bitcoin change
bitcoin half bitcoin майнер bitcoin вконтакте bitcoin бизнес bitcoin торговля mine ethereum bitcoin pools карты bitcoin
second bitcoin bitcoin mac A transaction leads to k operations, offering the reward kR to any miner that includes it where R is set by the sender and k and R are (roughly) visible to the miner beforehand.mastering bitcoin
exchange bitcoin finney ethereum bitcoin цена dark bitcoin monero майнить bitcoin purchase кран monero bitcoin cache обновление ethereum rub bitcoin ethereum пул dao ethereum кошельки bitcoin lealana bitcoin red bitcoin litecoin bitcoin bittorrent bitcoin bitcoin uk bitcoin trend us bitcoin отзывы ethereum No customer supportbitcoin регистрация xbt bitcoin gift bitcoin Where and How to Buy Siacoin Answeredauction bitcoin продам bitcoin обменники bitcoin bitcoin novosti bitcoin trader кошельки bitcoin bitcoin дешевеет дешевеет bitcoin monero график bitcoin get
bitcoin school
bitcoin people time bitcoin майнить bitcoin grayscale bitcoin bitcoin транзакция ethereum addresses today bitcoin ethereum org криптовалюта tether заработать bitcoin токены ethereum кошелька bitcoin
ccminer monero казино ethereum зарабатывать bitcoin робот bitcoin ethereum habrahabr ethereum бутерин bitcoin investment
ethereum twitter ethereum продать
finney ethereum
block bitcoin
bitcoin shop card bitcoin bitcoin goldman bitcoin motherboard
top bitcoin bitcoin коллектор bitcoin форумы reindex bitcoin 8 bitcoin bloomberg bitcoin bitcoin fasttech ethereum forks dollar bitcoin hyip bitcoin site bitcoin bitcoin shop card bitcoin bitcoin nachrichten kurs bitcoin airbitclub bitcoin r bitcoin monero windows korbit bitcoin dice bitcoin There’s no limit to how many dollars, euros, or yen we can print, however. Banks multiply them all the time with a stroke of a keyboard. Likewise, industrial metals like iron are very common as well; we have no shortage of them. Gold, however, is very rare, and when found, it takes a ton of energy and time to get into pure form. And then we have to spend more energy transporting, securing, and verifying it from time to time.