Litecoin (LTC) Cryptocurrency and Blockchain Guide
What is Litecoin (LTC)?
Litecoin (or LTC) is a peer-to-peer open-source Proof of Work (PoW) cryptocurrency, forked from the Bitcoin blockchain and hence is nearly identical in technical details to it. Litecoin differs slightly with Bitcoin in having a much higher maximum number of cryptocurrency tokens and decreased block generation time of 2.5 minutes.
Full name: Litecoin
Chinese Name: 莱特币
Ticker Symbol: LTC
Coin Price: Latest LTC Price
Founder: Charlie Lee
Prominent Developer Group: Litecoin Foundation
Consensus Protocol: Proof-of-Work (PoW)
Speed: Around 56 TPS (Reported by Coincola)
Max Coin Supply：84,000,000 LTC
Block Explorer: blockchair.com/litecoin
Litecoin blockchain was founded and launched on 7 October 2011 by Charlie Lee. According to its founder, the goal of Litecoin is not to replace Bitcoin but to become an altcoin to complement it. Many supporters compared Litecoin to silver and bitcoin to gold.
SegWit and Lightning Development
LTC became the first cryptocurrency among the top 5 cryptocurrencies by market cap to implement Segregated Witness (SegWit) and completed the first Lightning Network transaction on the Litecoin blockchain in May 2017.
Cryptocurrency Market Cap
On Dec 2017, Charlie Lee announced on reddit that he had sold or donated all of his Litecoins, claiming the conflict of interests of being the Litecoin founder influenced him to do so. LTC reached cryptocurrency market cap of more than $6.2 billion USD and a total coin circulating supply of around 61.9 million as of 25 May 2019.
[Rating: 3.5 ]
Litecoin is just a bitcoin with lesser traffic. Almost every design is the same. I wonder why it was even created in the first place, to do testing and experimenting for bitcoin? IMO investing bitcoin is as good as investing in Litecoin.
Marcus Lite (21/02/2018 1:30:48 PM):
★ ★ ★ ★ ★
Litecoin is the best. Charlie Lee knows what he is doing. Bitcoin will not be able to handle all transactions, Litecoin is there to help manage the small transactions. It is the perfect silver for Bitcoin, as good in security but faster. Haters will continue to hate and be jealous of its success.
Great Doz (14/03/2018 9:11:02 PM):
★ ★ ★
Litecoin is not completely the same as bitcoin, please do your research. It is more scalable, faster and has higher supply cap for tokens. I think it is promising. My only concern is that its founder sold all his litecoins, he mentioned that it was because of a conflict of interests, but I do not feel that it was a right decision.
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