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.
And as we move further along the adoption and growth curve of a Bitcoin monetary system, we see that national currencies themselves become challenged quite quickly. Why, after all, would people want to hold euros which are perpetually debased when an alternative exists that enables easier payments and cannot be debased by the ECB? If Bitcoin proves itself over the years as a solid store of value, what rational reason would one have to use euros at all? Supposing taxes were required to be paid in euros, an individual could still conduct his business in Bitcoin, and only buy depreciating euros just before the taxes were due.The most frequent question I get about Bitcoin is simply where to buy bitcoins. Some people don’t know how to start, and other people are familiar with the popular places to buy, but don’t know which ones are ideal.bitcoin экспресс
bitcoin котировка
doge bitcoin bitcoin grafik siiz bitcoin стратегия bitcoin bitcoin шахта loans bitcoin аналитика bitcoin case bitcoin
bitcoin комиссия How to mine Bitcoin: mining rigs.bitcoin автоматически ethereum mist bitcoin investment
bitcoin motherboard The digital signature is merged with the peer-to-peer network; a large number of individuals who act as authorities use the digital signature in order to reach a consensus on transactions, among other issues. When they authorize a deal, it is certified by a mathematical verification, which results in a successful secured transaction between the two network-connected parties. So to sum it up, Blockchain users employ cryptography keys to perform different types of digital interactions over the peer-to-peer network.bitcoin roll
ethereum платформа bitcoin автосерфинг фри bitcoin кошелек ethereum bitcoin 33 maining bitcoin карты bitcoin bitcoin аналоги bitcoin миллионеры
amazon bitcoin bitcoin инвестиции майн bitcoin технология bitcoin
total cryptocurrency bitcoin cudaminer bitcoin block bitcoin markets android tether key bitcoin bitcoin maps форк ethereum bitcoin автомат ethereum mine dwarfpool monero
bitcoin рейтинг usa bitcoin
ethereum chaindata ethereum shares people bitcoin bitcoin multisig bitcoin neteller
вики bitcoin bitcoin formula bitcoin games
bitcoin расчет mindgate bitcoin перспективы ethereum
transactions bitcoin kinolix bitcoin
ethereum вики dorks bitcoin bitcoin pattern bitcoin получить new bitcoin hd7850 monero
bestexchange bitcoin книга bitcoin
air bitcoin отдам bitcoin бесплатный bitcoin alpha bitcoin приложения bitcoin 60 bitcoin bitfenix bitcoin адрес bitcoin падение ethereum ethereum transaction статистика ethereum bloomberg bitcoin
bitcoin wordpress bitcoin rpg ethereum frontier bitcoin qr hit bitcoin значок bitcoin отследить bitcoin
bitcoin комиссия cz bitcoin system bitcoin bitcoin machines
bitcoin pdf bitcoin кранов decred cryptocurrency bitcoin dice bitcoin bat bitcoin pdf
bitcoin png The first Bitcoin alternative on our list, Ethereum, is a decentralized software platform that enables Smart Contracts and Decentralized Applications (DApps) to be built and run without any downtime, fraud, control, or interference from a third party. The goal behind Ethereum is to create a decentralized suite of financial products that anyone in the world can have free access to, regardless of nationality, ethnicity, or faith. This aspect makes the implications for those in some countries more compelling, as those without state infrastructure and state identifications can get access to bank accounts, loans, insurance, or a variety of other financial products. bitcoin автомат bitcoin принцип bitcoin алгоритм создать bitcoin mine monero скачать bitcoin
wechat bitcoin bitcoin продать
кошелек ethereum bitcoin x часы bitcoin truffle ethereum запуск bitcoin dwarfpool monero технология bitcoin
bitcoin demo bitcoin бонусы взлом bitcoin bitcoin rpg boom bitcoin bitcoin отследить bitcoin шахты ethereum ротаторы bitcointalk monero bitcoin автоматически
bitcoin bcc рубли bitcoin кран monero trading bitcoin monero обменять ethereum rig casper ethereum hosting bitcoin
bitcoin spend mining monero What is Bitcoin?ethereum акции Vitalik Buterin, the founder of Ethereum, stated that the total number of coins will not reach more than 100,000,000 ETH in the 'foreseeable future'.If you’ll be making Bitcoin transactions frequently, hot wallets that work across many devices are a better option.Paper Walletbitcoin group программа bitcoin bitcoin average bitcoin ваучер
cold bitcoin
rub bitcoin ethereum faucets bitcoin weekend bitcoin yandex trading cryptocurrency doubler bitcoin coingecko ethereum 2x bitcoin cryptocurrency capitalization ads bitcoin bitcoin технология bitcoin вконтакте
работа bitcoin bitcoin шахты
avatrade bitcoin decred ethereum bitcoin office bitcoin super акции ethereum bitcoin avto alipay bitcoin порт bitcoin 1070 ethereum сеть ethereum daemon monero today bitcoin pirates bitcoin swarm ethereum monero pro падение bitcoin ethereum web3 bitcoin difficulty
bitcoin вебмани today bitcoin sgminer monero etf bitcoin bitcoin buying bitcoin dump daemon monero протокол bitcoin wmx bitcoin api bitcoin bitcoin swiss bitcoin drip cryptocurrency captcha bitcoin china bitcoin ethereum org bitcoin xl bitcoin rt 999 bitcoin партнерка bitcoin asrock bitcoin bitcoin register bitcoin кредит bitcoin lucky отследить bitcoin bitcoin valet bitcoin продать bitcoin получение bitcoin платформа bitcoin calc bitcoin cnbc
Always check the profit calculator that we listed above. If the value of Litecoin changes, or your electricity prices go up, enter the new details into the calculator to make sure you can still make a profit.bitcoin rpg Generally speaking, every bitcoin miner has a copy of the entire block chain on her computer. If she shuts her computer down and stops mining for a while, when she starts back up, her machine will send a message to other miners requesting the blocks that were created in her absence. No one person or computer has responsibility for these block chain updates; no miner has special status. The updates, like the authentication of new blocks, are provided by the network of bitcoin miners at large.How quickly blockchain technology is adopted by bigger businesses;ethereum телеграмм взлом bitcoin bio bitcoin ethereum chaindata курсы bitcoin
кредиты bitcoin bitcoin майнер wordpress bitcoin приложение tether транзакции monero ставки bitcoin bitcoin онлайн продам bitcoin client bitcoin bitcoin вложения будущее ethereum bitcoin cfd bitcoin 99 купить bitcoin ethereum dao bitcoin таблица
email bitcoin bitcoin free bitcoin tor bitcoin register tether майнинг майнинга bitcoin bitcoin evolution bitcoin antminer panda bitcoin india bitcoin bitcoin puzzle gemini bitcoin bitcoin бесплатные ethereum blockchain хардфорк ethereum
ethereum foundation cryptonator ethereum currency bitcoin bitcoin майнить
кости bitcoin Ethereum and Bitcoin operate on separate protocols and their processes are not related to one another. This means that some transactions that may be allowed on one platform may not be allowed on another. This becomes a question when considering permissioned vs permissionless transactions.supernova ethereum bitcoin hacking hashrate bitcoin
ethereum install bitcoin euro wikileaks bitcoin робот bitcoin bitcoin webmoney инструмент bitcoin monero ico майнер ethereum bitcoin machines ethereum web3 monero fork boom bitcoin ico cryptocurrency bitcoin easy coingecko bitcoin bitcoin paw
деньги bitcoin bitcoin rt bitcoin cpu monero ann game bitcoin second bitcoin bitcoin code 1 ethereum bitcoin traffic metal bitcoin bitcoin main bitcoin обозреватель monero fr bitcoin block bitcoin протокол bitcoin kazanma
сайте bitcoin index bitcoin куплю ethereum bitcoin tradingview
armory bitcoin testnet bitcoin форк bitcoin project ethereum mercado bitcoin
asics bitcoin bitcoin conveyor doge bitcoin antminer bitcoin asics bitcoin linux bitcoin bitcoin транзакции кошельки ethereum ethereum dark ethereum логотип 1080 ethereum
трейдинг bitcoin купить tether скачать tether bitcoin mainer
bitcoin wm обзор bitcoin bitcoin spinner
waves cryptocurrency ethereum купить
bitcoin market earn bitcoin bitcoin перспективы курс bitcoin bitcoin landing виджет bitcoin bitcoin brokers moneypolo bitcoin bank bitcoin coinder bitcoin pump bitcoin bitcoin accelerator reklama bitcoin rpg bitcoin
bitcoin loan форумы bitcoin компиляция bitcoin bitcoin ротатор
токены ethereum bitcoin symbol ethereum прогнозы takara bitcoin bitcoin withdrawal системе bitcoin вывод ethereum amd bitcoin ethereum заработок цена ethereum bitcoin сокращение by bitcoin bitcoin kurs
erc20 ethereum ethereum os captcha bitcoin mastercard bitcoin bitcoin play криптовалюта monero bitcoin разделился green bitcoin monero краны tether программа bitcoin hype bitcoin расчет ethereum asic
bitcoin prominer bitcoin alliance bitcoin rotator сборщик bitcoin space bitcoin создатель bitcoin easy bitcoin autobot bitcoin pyethapp (written in Python) https://github.com/ethereum/pyethappalgorithm bitcoin bitcoin блокчейн bitcoin компьютер rotator bitcoin 4000 bitcoin
tether ico free bitcoin
collector bitcoin обналичить bitcoin обмен tether monero news zebra bitcoin hosting bitcoin блог bitcoin nanopool monero rx560 monero ethereum пулы bitcoin atm
хардфорк bitcoin bitcoin froggy робот bitcoin bitcoin nodes bitcoin бесплатный The Silk Road story made it into newspapers across the world. This was both good and bad for Bitcoin. It was bad because Bitcoin became linked with online crime, but it was good because it showed that Bitcoin worked. The Silk Road story showed the world that Bitcoin was useful, and that it had a big group of people who wanted to use it (even though they were criminals).sgminer monero fake bitcoin bitcoin магазин bitcoin machine bitcoin icons
bitcoin обои
bitcoin работа qiwi bitcoin generator bitcoin ethereum com
wired tether ethereum alliance tcc bitcoin The second factor is that this isn't exactly a 'fair' market. Among traditional equities, like the stock market, an investor has the opportunity to buy, sell, and even bet against an equity. Money can be made if an equity moves up or down. With nearly all cryptocurrencies, except bitcoin, buying or selling is the only option. There is no way to make money if a cryptocurrency goes down, which naturally tends to incentivize buying. This probably won't last forever, but it's played a key role in pushing prices higher.обменники ethereum testnet ethereum bitcoin neteller брокеры bitcoin monero difficulty bitcoin rotator 4000 bitcoin ethereum бутерин bitcoin wikileaks кран bitcoin go bitcoin bitcoin knots bitcoin таблица bitcoin registration monero cryptonote ethereum supernova эпоха ethereum
bitcoin котировки bitcoin vps
One intuitive parallel between the Protestant Reformation and now are theAll the transactions are approved and verified on the Blockchain network using a proof-of-work consensus algorithm.казахстан bitcoin bitcoin friday bitcoin asic ethereum addresses bitcoin converter ethereum calc monero price bitcoin legal bitcoin heist wmx bitcoin mac bitcoin ethereum contract автокран bitcoin bitcoin блок bitcoin список доходность ethereum transaction bitcoin monero алгоритм
space bitcoin bitcoin продать майнинга bitcoin bitcoin шахта surf bitcoin bitcoin loto
delphi bitcoin nxt cryptocurrency space bitcoin ethereum coingecko bitcoin сервисы
monero price bitcoin carding bitcoin fund cryptocurrency tech bitcoin synchronization casper ethereum tether 4pda
Crypto comes from the word cryptography, which is the process used to protect the transactions that send the lines of code for purchases. Cryptography also controls the creation of new coins. Hundreds of coin types now dot the crypto markets, but only a handful have the potential to become a viable investment.bitcoin cnbc vector bitcoin 