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.
Bitcoin's Tax Riskethereum serpent tether перевод proxy bitcoin сокращение bitcoin ethereum видеокарты online bitcoin sell ethereum
магазин bitcoin
bitcoin scrypt bitcoin bbc bitcoin history bear bitcoin ethereum калькулятор
программа tether bitcoin prominer microsoft bitcoin bitcoin оплата bitcoin пополнение
monero windows polkadot блог black bitcoin bitcoin анонимность
lurkmore bitcoin ios bitcoin prune bitcoin bitcoin блог tether транскрипция flypool ethereum кран bitcoin keyhunter bitcoin registration bitcoin
business bitcoin ethereum twitter tether tools bitcoin charts bitcoin bitminer bitcoin s blender bitcoin paidbooks bitcoin flappy bitcoin bitcoin suisse криптовалюта monero bitcoin стратегия bitcoin apk cryptocurrency logo bitcoin вход nanopool ethereum bitcoin баланс bitcoin click bitcoin euro field bitcoin bitcoin options community bitcoin advcash bitcoin bitcoin database bitcoin datadir monero rub ethereum обменники 1080 ethereum эмиссия ethereum
ethereum io bitcoin пулы goldmine bitcoin bitcoin дешевеет создатель bitcoin майнинг ethereum bitcoin stock James Chanos, known as the 'dean of the short sellers', believes that bitcoin and other cryptocurrencies are a mania and useful only for tax avoidance or otherwise hiding income from the government. Bitcoin 'is simply a security speculation game masquerading as a technological breakthrough in monetary policy'.6000 bitcoin bitcoin reklama euro bitcoin ethereum russia ethereum mist стоимость bitcoin asus bitcoin bitcoin get client ethereum фонд ethereum кран bitcoin bitcoin ethereum заработок bitcoin ethereum course bitcoin masters buy tether stellar cryptocurrency
майнер monero
сайте bitcoin monero cpuminer bitcoin комиссия bitcoin миксер ico ethereum monero gui bitcoin сигналы bubble bitcoin ethereum solidity
bitcoin кранов bitcoin community weather bitcoin
bitcoin earnings wallet cryptocurrency
ethereum вики разработчик bitcoin запросы bitcoin bitcoin server стратегия bitcoin bitcoin s
ethereum block bitcoin machine bitcoin advcash ultimate bitcoin монет bitcoin bitcoin weekly
bazar bitcoin ethereum chart создатель bitcoin sberbank bitcoin bitcoin клиент
999 bitcoin bitcoin blue bitcoin обменять ethereum torrent ethereum blockchain консультации bitcoin wmx bitcoin word bitcoin лотереи bitcoin bitcoin novosti bitcoin script monero купить scrypt bitcoin bitcoin вклады youtube bitcoin matrix bitcoin simplewallet monero usb bitcoin solo bitcoin bitcoin simple
hd7850 monero bitcoin в in bitcoin bitcoin demo account bitcoin bitcoin 100 ethereum конвертер
ethereum faucets pow bitcoin фри bitcoin cryptocurrency dash token ethereum токен bitcoin ethereum twitter bitcoin dynamics Gain expertise in core Blockchain conceptsVIEW COURSEBlockchain Certification Training CourseEach dot in that chart represents the monthly bitcoin price, with the color based on how many months it has been since the prior halving. A halving refers to a pre-programmed point on the blockchain (every 210,000 blocks) when the supply rate of new bitcoins generated every 10 minutes gets cut in half, and they occurred at the times where the blue dots turn into red dots.monero miner
bitcoin генератор ethereum bitcoin bitcoin check bitcoin motherboard
mixer bitcoin blue bitcoin xmr monero auto bitcoin dark bitcoin
системе bitcoin wei ethereum bitcoin instaforex котировки bitcoin excel bitcoin bitcoin usd полевые bitcoin bitcoin telegram bitcoin brokers vk bitcoin pool bitcoin
видеокарта bitcoin bitcoin 3d ethereum info bitcoin перспективы 2016 bitcoin bitcoin office bitcoin минфин продам bitcoin monero обменник контракты ethereum
bitcoin prosto
neo bitcoin динамика ethereum
bitcoin форк xmr monero bitcoin hashrate analysis bitcoin bitcoin asic ethereum фото Best Bitcoin Wallets of 2021monero майнить ethereum script bitcoin tx хешрейт ethereum monero обменять статистика ethereum decred ethereum coin bitcoin monero пулы статистика ethereum alpha bitcoin
bitcoin get bitcoin сервисы bitcoin hesaplama bitcoin 3 ethereum ubuntu datadir bitcoin roulette bitcoin команды bitcoin bitcoin окупаемость bitcoin com
bitcoin easy bitcoin зебра
pro100business bitcoin tether пополнение ann ethereum bitcoin wsj bitcoin tx bitcoin коды blocks bitcoin bitcoin nvidia
monero продать ethereum ротаторы bitcoin check bitcoin lite bitcoin основы coffee bitcoin ethereum скачать bitcoin qiwi bitcoin s bitcoin описание bitcoin center bitcoin transactions ethereum telegram clame bitcoin monero minergate ethereum stratum bitcoin мастернода phoenix bitcoin exchanges bitcoin взломать bitcoin bitcoin cash Here is a slightly more technical description of how mining works. The network of miners, who are scattered across the globe and not bound to each other by personal or professional ties, receives the latest batch of transaction data. They run the data through a cryptographic algorithm that generates a 'hash,' a string of numbers and letters that verifies the information's validity but does not reveal the information itself. (In reality, this ideal vision of decentralized mining is no longer accurate, with industrial-scale mining farms and powerful mining pools forming an oligopoly. More on that below.)bitcoin blue bitcoin телефон kran bitcoin Mining is competitive. The first miner to generate a hash that is smaller than a target set by the network 'finds' the new block, receives the block reward – currently 25 litecoin – and any transaction fees present in the block. Since there is no way to know what nonce will generate a below-target hash, miners' results are subject to two factors: luck, which is outside of their control; and computing power, which can be bought (or stolen).майнить bitcoin lamborghini bitcoin регистрация bitcoin ethereum markets bitcoin step tx bitcoin виталик ethereum grayscale bitcoin bitcoin пирамиды tether js отзывы ethereum nonce bitcoin ethereum rotator server bitcoin bitcoin fasttech bitcoin развод decred ethereum p2pool bitcoin bitcoin bounty transactions bitcoin dark bitcoin ethereum перспективы bitcoin froggy It is not owned by a single entity, hence it is decentralizedconference bitcoin котировки ethereum email bitcoin cryptocurrency
bitcoin кранов
The Most Trending Findingsethereum stratum capitalization bitcoin monero pools
bitcoin tails bitcoin пополнить арбитраж bitcoin total cryptocurrency nanopool ethereum приложение bitcoin bitcoin программа
прогнозы ethereum nonce is a hash that, when combined with the mixHash, proves that this block has carried out enough computationaverage bitcoin forum ethereum ethereum получить waves bitcoin bitcoin trend ethereum пулы
bitcoin knots bitcoin formula monero bitcoin games bitcoin check bitcoin dice deep bitcoin bitcoin fx криптовалюта tether coinmarketcap bitcoin cryptocurrency magazine ethereum wiki автомат bitcoin
bitcoin boom bitcoin запрет bitcoin scam get bitcoin bitcoin fpga nicehash ethereum bitcoin развод bitcoin blockstream bitcoin green bitcoin википедия bitcoin hunter When new protocols are rolled out, a group of individuals may disagree with them and refuse to update their systems. This break from the main protocol is referred to as a Hard Fork.перспектива bitcoin In January 2018, the Grand Mufti of Egypt declared that cryptocurrency trading was forbidden under Islamic religious law due to the risk associated with the activity. While this is not legally binding, it does count as a high-level legal opinion.unconfirmed monero
bitcoin настройка монета ethereum direct bitcoin bitcoin donate эфириум ethereum node bitcoin bitcoin grafik
bitcoin япония bitcoin суть ethereum сбербанк bitcoin cny bitcoin land bcc bitcoin mine ethereum bitcoin froggy
bitcoin 2x bitcoin easy оплата bitcoin bitcoin продажа wikipedia cryptocurrency ethereum miner up bitcoin количество bitcoin bitcoin io котировки bitcoin monero купить vk bitcoin bitcoin bio polkadot stingray ethereum клиент сайт ethereum analysis bitcoin
bitcoin purse goldsday bitcoin
takara bitcoin bitcoin кошелька cryptocurrency chart bitcoin gif курса ethereum bitcoin php ethereum википедия bitcoin qr bitcoin fortune bitcoin пирамида работа bitcoin bitcoin bat ethereum прогноз bitcoin валюта bitcoin код 2048 bitcoin россия bitcoin multisig bitcoin
падение ethereum проекта ethereum bitcoin mixer
ethereum хешрейт
cryptocurrency bitcoin bitcoin анимация фьючерсы bitcoin If you had started mining Bitcoins back in 2009, you could have earned thousands of dollars by now. At the same time, there are plenty of ways you could have lost money, too. Bitcoins are not a good choice for beginning miners who work on a small scale. The current up-front investment and maintenance costs—not to mention the sheer mathematical difficulty of the process—doesn't make it profitable for consumer-level hardware. Today, Bitcoin mining is reserved for large-scale operations only. faucet bitcoin bitcoin payoneer machine bitcoin The Antminer S9 cools itself using custom-made heat sinks. These are built using a high-grade aluminium alloy. It also uses two high speed fans on either end of the device. This ensures that hot air is quickly gotten rid of and replaced. monero windows
падение ethereum bitcoin icons foto bitcoin phoenix bitcoin
bitcoin okpay ethereum myetherwallet tether wallet bitcoin play local ethereum rus bitcoin tether usb оплата bitcoin bitcoin tails
bitcoin transaction bitcoin обзор bitcoin удвоитель ad bitcoin эмиссия bitcoin purse bitcoin
ethereum рост партнерка bitcoin ethereum blockchain importprivkey bitcoin
github ethereum стоимость ethereum tether provisioning nem cryptocurrency bitcoin работа usa bitcoin joker bitcoin
регистрация bitcoin trader bitcoin платформ ethereum Considering there are fewer active Bitcoin users than Israel citizens, the average Israeli citizen is quite well off, and most Bitcoin users probably only do a tiny portion if any of their economic activity in Bitcoin, there’s nowhere near as much economic activity in Bitcoin as Israel’s GDP.Bitcoin Core uses OpenTimestamps to timestamp merge commits.cryptocurrency nem
neo bitcoin Fundamentals of Blockchainmonero пулы monero gpu токены ethereum bitcoin кранов
криптовалюта ethereum bitcoin etherium titan bitcoin rpg bitcoin wallet cryptocurrency покупка ethereum ethereum blockchain ethereum проект ethereum rig ethereum токены
analysis bitcoin
bitcoin daemon bitcoin waves программа tether bitcoin example deep bitcoin bitcoin система продажа bitcoin теханализ bitcoin kinolix bitcoin bitcoin исходники bitcoin eu mooning bitcoin bitcoin анализ epay bitcoin казино ethereum opencart bitcoin vpn bitcoin
payoneer bitcoin
бумажник bitcoin ethereum course bitcoin aliens ethereum php tx bitcoin виталий ethereum bitcoin комбайн calculator ethereum
куплю bitcoin bitcoin etherium segwit bitcoin algorithm bitcoin coinder bitcoin bitcoin investment bitcoin avto cryptocurrency prices fee bitcoin bitcoin betting bitcoin future bitcoin wmx
bitcoin nodes widget bitcoin цены bitcoin bitcoin apple япония bitcoin yandex bitcoin polkadot cadaver monero dwarfpool conference bitcoin bitcoin автосборщик bitcoin лохотрон 2048 bitcoin терминалы bitcoin cryptocurrency wallet bitcoin antminer monero 1070 bitcoin nachrichten bitcoin register пожертвование bitcoin bootstrap tether bitcoin legal сложность ethereum x2 bitcoin bitcoin qr exchange ethereum
segwit bitcoin bitcoin получить bitcoin телефон cryptocurrency bitcoin split ethereum стоимость ethereum wiki сигналы bitcoin red bitcoin salt bitcoin bitcoin api
прогнозы ethereum bitcoin crash lite bitcoin windows bitcoin unconfirmed monero express bitcoin
matteo monero chvrches tether ethereum создатель bitcoin price Theft also occurs at sites where bitcoins are used to purchase illicit goods. In late November 2013, an estimated $100 million in bitcoins were allegedly stolen from the online illicit goods marketplace Sheep Marketplace, which immediately closed. Users tracked the coins as they were processed and converted to cash, but no funds were recovered and no culprits identified. A different black market, Silk Road 2, stated that during a February 2014 hack, bitcoins valued at $2.7 million were taken from escrow accounts.ethereum address bitcoin telegram
инструкция bitcoin dance bitcoin майн ethereum bitcoin кошелька bitcoin блокчейн
cap bitcoin котировки ethereum bitcoin apple bitcoin motherboard