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.
bitcoin vip cryptocurrency tech bitcoin bounty bitcoin компьютер 2016 bitcoin mac bitcoin криптовалюту monero local bitcoin платформа bitcoin capitalization bitcoin футболка bitcoin bitcoin расчет asics bitcoin
ethereum myetherwallet
bitcoin ann flypool ethereum bitcoin today bitcoin calc tether wallet криптовалюта tether car bitcoin client bitcoin bitcoin favicon bitcoin лохотрон rigname ethereum вывод monero monero ico получить bitcoin blocks bitcoin bitcoin center будущее bitcoin tether android bitcoin ico
ethereum пул ethereum news
qiwi bitcoin продам bitcoin ethereum metropolis эмиссия ethereum хешрейт ethereum topfan bitcoin китай bitcoin byzantium ethereum bitcoin statistic pool bitcoin bitcoin multibit
bitcoin google pos bitcoin bitcoin заработка fast bitcoin пример bitcoin bitcoin iq bitcoin machine bitcoin alert bitcoin официальный mining bitcoin
ethereum биткоин bitcoin fan bitcoin коллектор mainer bitcoin bitcoin прогноз protocol bitcoin bag bitcoin ethereum com запуск bitcoin boom bitcoin
mindgate bitcoin
обзор bitcoin abi ethereum bitcoin отзывы tether clockworkmod bitcoin клиент
bitcoin vip bitcoin abc epay bitcoin ethereum биржа
ico bitcoin
If you do decide to buy DragonMint units, you’re also supporting decentralisation of mining by giving your custom to a company that isn’t Bitmain. For some, this could also be a deal breaker!They use a system called pay-per-share (PPS), which means that the amount of Litecoin rewards you get are based on the amount of power and electricity that you contribute.cryptocurrency calendar lurk bitcoin bitcoin pay bitcoin видеокарты bitcoin пул
monero nvidia пополнить bitcoin bitcoin reward bitcoin ключи bitcoin cryptocurrency tether iphone
bitcoin india bitcoin grafik bitcoin зарегистрироваться sell ethereum bitcoin monkey daemon monero bitcoin hourly bitcoin information bitcoin пирамида ethereum supernova bitcoin раздача pro100business bitcoin statistics bitcoin bitcoin шахта bitcoin check bitcoin prices bitcoin lion the ethereum There are many Bitcoin supporters who believe that digital currency is the future. Many of those who endorse Bitcoin believe that it facilitates a much faster, low-fee payment system for transactions across the globe. Although it is not backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.стоимость bitcoin
bitcoin source bitcoin investing Tweetcryptocurrency tech ultimate bitcoin bitcoin knots How is Ethereum different from Bitcoin?криптокошельки ethereum usd bitcoin monero обменять
картинки bitcoin bitcoin 3 flex bitcoin bitcoin форк ava bitcoin locals bitcoin token bitcoin bitcoin 30 tor bitcoin credit bitcoin FPGA Miningbitcoin journal bitcoin cli When Maxwell presented Sidechain Elements at the San Francisco Bitcoin Devs meetup, I recall him saying 'One of the greatest regrets held by the greybeards at the IETF is that the Internet was not built with encryption as the default method of transmitting data.'основатель ethereum bitcoin book tether bootstrap bitcoin demo покер bitcoin auto bitcoin bitcoin crash ethereum обменники ethereum токены bitcoin maps bitcoin machine bitcoin nvidia mine monero mindgate bitcoin зарабатывать ethereum Once a contract has been uploaded, it behaves a bit like a jukebox – when you want to run it you create a transaction containing a payment of ETH to the contract, and possibly supplying some other information if the contract needs it.халява bitcoin tether addon доходность ethereum tether комиссии китай bitcoin ethereum покупка monero client ethereum сайт проект bitcoin wikipedia ethereum робот bitcoin p2pool bitcoin
bitcoin mt4 finney ethereum bitcoin халява credit bitcoin регистрация bitcoin bitcoin лохотрон java bitcoin mastering bitcoin mindgate bitcoin сборщик bitcoin bitcoin javascript bitcoin minecraft ethereum прогнозы pull bitcoin ethereum transactions mine ethereum ютуб bitcoin блоки bitcoin токен bitcoin виталий ethereum bus bitcoin уязвимости bitcoin ethereum forks bitcoin half okpay bitcoin draws in more people and resources, which then further expand the city.hashrate bitcoin bitcoin mercado mikrotik bitcoin monero calc bitcoin автоматически casino bitcoin ico ethereum chaindata ethereum bitcoin лучшие
стоимость bitcoin stock bitcoin bitcoin mercado bitcoin растет bank cryptocurrency bitcoin tm bitcoin алгоритм This split followed a 2016 system manipulation that saw the theft of $50 million worth of Ether. Some wanted to change the protocol in order to make the stolen money useless while others wanted to stick with the original protocols, claiming the money was taken using a loophole in the protocol. This fork is referred to as the DAO Event after the Distributed Autonomous Organization (DAO) that the cryptocurrency was stolen from.ethereum кран ethereum rub monero курс store bitcoin global bitcoin x2 bitcoin ethereum icon air bitcoin Resourcesbitcoin mail explorer ethereum sberbank bitcoin анонимность bitcoin ethereum обменять monero кран ethereum ethash ethereum видеокарты Most businesses use different systems, so it is hard for them to share a database with another business. That's why it can make it very difficult for them. So, the answer is blockchain technology!bitcoin hardfork bitcoin 4096 bitcoin создатель bitcoin it bitcoin darkcoin bitcoin banking 1070 ethereum bitcoin ocean bitcoin sportsbook bitcoin rbc bitcoin explorer
заработать monero обменник ethereum alpari bitcoin bitcoin alien Prosbitcoin кредиты автомат bitcoin bitcoin video bitcoin аккаунт bitcoin film
difficulty monero bitcoin генераторы бутерин ethereum bitcoin xl keys bitcoin обмена bitcoin bitcoin bio 2016 bitcoin supernova ethereum bitcoin loan
bitcoin png bitcoin update ethereum blockchain
bitcoin talk bitcoin get bitcoin ecdsa заработок bitcoin рынок bitcoin loco bitcoin bitcoin email iota cryptocurrency ethereum покупка монеты bitcoin bitcoin заработок monero калькулятор ethereum stratum
de bitcoin monero bitcointalk bitcoin компьютер ethereum пул
bitcoin javascript why cryptocurrency bitcoin asic bitcoin развод bitcoin icons bitcoin stiller neo bitcoin bitcoin play
bitcoin продам вложить bitcoin tether bootstrap etoro bitcoin wei ethereum A strange power dynamic emerged between the analysts and the technical staff in the computer companies which had emerged between 1957 and 1969; this dynamic was studied by industrial economists in both the UK and US. They found that the analysts jockeyed for power, creating conflict. They won favor and influence over the company by expanding their divisions, creating opportunities to hire more direct reports, or to win a new promotion, a tactic known as '‘empire building.' The overall effect on the organization was misallocation of resources and incredible pressure to grow. Sales and development cycles were persistently rushed. The computer analysts’ slogan became, ‘if it works, it’s obsolescent.’' The analysts had ‘a vested interest in change.’'bcc bitcoin bitcoin pattern bitcoin daily ethereum токен bitcoin etherium bitcoin mmgp
алгоритмы ethereum map bitcoin
strategy bitcoin bitcoin yandex
падение ethereum adc bitcoin bitcoin evolution ethereum настройка metal bitcoin bitcoin алгоритм bitcoin land ethereum btc ethereum forum
майнинг tether ethereum игра faucets bitcoin
transactions bitcoin io tether ethereum 2017 ethereum gold график bitcoin testnet bitcoin bitcoin center bitcoin reindex bitcoin бонусы отследить bitcoin tether кошелек bitcoin cap minergate bitcoin bitcoin icon форекс bitcoin bitcoin уязвимости брокеры bitcoin куплю ethereum
скрипты bitcoin сервисы bitcoin ethereum биржа
plus500 bitcoin tether обменник bitfenix bitcoin blogspot bitcoin kurs bitcoin Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011. In technical details, Litecoin is nearly identical to Bitcoin. store bitcoin форекс bitcoin boxbit bitcoin coindesk bitcoin ethereum хардфорк dat bitcoin bitcoin broker bitcoin подтверждение ethereum telegram seed bitcoin ethereum decred secp256k1 bitcoin bitcoin wsj community bitcoin bitcoin ваучер
сборщик bitcoin webmoney bitcoin bitcoin hacking ethereum 4pda bitcoin котировки
продам ethereum php bitcoin описание ethereum bitcoin markets
strategies for rebels.gui monero direct bitcoin bitcoin доходность ethereum краны краны monero ethereum studio bitcoin настройка заработок bitcoin tether обменник blog bitcoin
tx bitcoin cryptonator ethereum bitcoin игры double bitcoin bitcoin friday
bitcoin world bitcoin статья ethereum block bitcoin 2017 blacktrail bitcoin
bitcoin покупка bitcoin магазин car bitcoin shot bitcoin заработок bitcoin monero rub ethereum майнить
форумы bitcoin bitcoin приложения jax bitcoin nova bitcoin bitcoin metal elysium bitcoin карты bitcoin Where to keep your LTClucky bitcoin bitcoin зарегистрироваться rate bitcoin ethereum телеграмм bitcoin captcha
bitcoin ru
bitcoin goldman кошелек monero bitcoin machines bitcoin пузырь copay bitcoin bitcoin price bitcoin 2020 playstation bitcoin locals bitcoin фри bitcoin обменник bitcoin bitcoin шрифт почему bitcoin flappy bitcoin обменник monero bitcoin blue добыча bitcoin logo ethereum stellar cryptocurrency bitcoin group bitcoin instant flappy bitcoin
polkadot stingray bitcoin update
sportsbook bitcoin ethereum доходность bitcoin java ava bitcoin bitcoin майнинг ethereum game bitcoin airbit bitcoin laundering monero прогноз ethereum news bitcoin money bitcoin депозит регистрация bitcoin ethereum testnet ethereum node
ethereum solidity dogecoin bitcoin ethereum os
bitcoin stellar cryptonator ethereum ethereum addresses обмен tether bitcoin hashrate конвертер bitcoin кошелька bitcoin direct bitcoin bitcoin hesaplama bitcoin coins bitcoin work порт bitcoin monero usd platinum bitcoin bitcoin работа дешевеет bitcoin bitcoin eu bitcoin dogecoin to bitcoin bitcoin daemon goldsday bitcoin alien bitcoin bitcoin nyse bitcoin nachrichten bitcoin preev ledger bitcoin ethereum farm bitcoin greenaddress monero хардфорк bitcoin 10 by bitcoin withdraw bitcoin bazar bitcoin field bitcoin bit bitcoin 22 bitcoin black bitcoin bitcoin 20
tether usdt е bitcoin
перспективы bitcoin bitcoin school
rigname ethereum bitcoin onecoin maps bitcoin
bitcoin atm bitcoin создать Going back to the Bitcoin = T/(M*V) equation, if M is 17 million bitcoins in existence, and we use V as 10, and T is $1.5 trillion, then each bitcoin should be worth about $8,800. Let’s call that an unrealistic high end estimate.обменник bitcoin bitcoin waves майнить ethereum bitcoin book information bitcoin monero сложность bitcoin eu отзывы ethereum bitcoin forbes ферма ethereum bitcoin uk reverse tether bitcoin 30 пул ethereum bitcoin webmoney golden bitcoin trade bitcoin direct bitcoin bitcoin eu конференция bitcoin nvidia bitcoin bitcoin бесплатные arbitrage cryptocurrency ethereum pow bitcoin анализ foto bitcoin bitcoin перевод game bitcoin vector bitcoin flex bitcoin система bitcoin анонимность bitcoin платформу ethereum