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 блокчейн bitcoin lurk bitcoin bitrix bitcoin mail ethereum биткоин bitcoin s equihash bitcoin 10000 bitcoin ethereum api cryptocurrency market bitcoin краны bitcoin swiss trader bitcoin q bitcoin
виталий ethereum
bitcoin аналоги bitcoin start tether комиссии wikipedia cryptocurrency
cms bitcoin bitcoin com cudaminer bitcoin вклады bitcoin перспективы ethereum bitcoin eu bitcoin future bitcoin приват24 bloomberg bitcoin
bitcoin 4000 bitcoin windows 2x bitcoin bitcoin click bitcoin автоматически bitcoin crypto wordpress bitcoin bitcoin tor bitcoin pdf bitcoin code bitcoin moneybox
bitcoin займ bitcoin loan bitcoin apple bitcoin crane Multisig also comes into play here. Innovative custody companies like Casa (disclaimer: Castle Island is an investor) rely on a 3-of-5 multisignature setup whereby the user controls four keys physically dispersed, and Casa holds one for disaster recovery. This makes physical attacks on Bitcoin holders much more difficult and expensive, while preserving convenience and resilience to faults (seedless recovery is possible if a hardware wallet is lost). The secure key sharding that Bitcoin offers fundamentally reinvents what it means to be a custodian, and opens the door for all kinds of innovative hybrid models which offer various resilience/autonomy tradeoffs.подтверждение bitcoin bitcoin 1070 Because there’s no centralized regulating authority to manage or control exchanges, it means that the computers that mine that specific type of cryptocurrency are all responsible for keeping the ledger current. And updates to the blockchain are frequent. For example, Buybitcoinworldwide.com estimates that the Bitcoin blockchain gains a new block every 10 minutes through the mining process. bitcoin работа click bitcoin обмена bitcoin
monero обменять bitcoin ocean tether addon
bitcoin blocks bitcoin cryptocurrency bitcoin lucky сеть bitcoin ethereum монета
vps bitcoin swiss bitcoin bitcoin миксеры client ethereum видеокарты bitcoin bitcoin приложение casascius bitcoin bitcoin перевод monero logo bitcoin protocol bitcoin millionaire bitcoin авито server bitcoin network effect and Bitcoin’s contenders don’t live up to their promises.Sources: ETHHub, Kraken Intelligence, Binance Research.ethereum 1070 обвал bitcoin клиент bitcoin matrix bitcoin Bitcoin Isn’t Very Easy to Useexpress bitcoin bitcoin регистрации *****a bitcoin master bitcoin prune bitcoin bitcoin china XBTerminalсколько bitcoin There are three groups of technical stakeholders, each with different skill sets and different incentives.SymbolŁkonverter bitcoin bitcoin lurkmore
ecdsa bitcoin habrahabr bitcoin bitcoin film project ethereum краны monero bitcoin get bitcoin проблемы bitcoin trinity abc bitcoin bitcoin 4000 ethereum капитализация bitcoin вложения bitcoin usb bitcoin виджет bitcoin заработок information bitcoin
bitcoin base bitcoin click bitcoin xbt bitcoin котировка сложность monero bitcoin робот токены ethereum flash bitcoin blue bitcoin bitcoin трейдинг car bitcoin
bitcoin phoenix bitcoin лучшие bitcoin отзывы bitcoin knots monero What Are the Advantages of Paying With Bitcoin?John and Tom both have iPhone 8’s. When a new software update is released, Tom decides to update his iPhone 8. However, John would rather stay on the older software version and decides not to update his iPhone. This is how a fork works. They still both have an iPhone 8, but both iPhones have different features now.bitcoin обменник bitcoin bittorrent
tp tether компьютер bitcoin bitcoin etf bitcoin converter eobot bitcoin bitcoin ecdsa ethereum *****u bitcoin отследить tether coin bitcoin количество bitcoin rates bitcoin покер ethereum получить компиляция bitcoin tether chvrches отзывы ethereum bitcoin минфин bitcoin check monero обменять ethereum статистика python bitcoin best bitcoin kran bitcoin акции ethereum loan bitcoin advcash bitcoin mmm bitcoin monero calc cryptocurrency chart alipay bitcoin
cryptocurrency prices account bitcoin сбор bitcoin хардфорк ethereum
casinos bitcoin cryptocurrency bitcoin mine main bitcoin claim bitcoin bitcoin tracker bitcoin gift развод bitcoin bitcoin earnings bitcoin bitminer up bitcoin рынок bitcoin bitcoin вектор bitcoin system bitcoin шрифт fpga bitcoin обменник monero bitcoin store
tether пополнить ethereum complexity bitcoin yandex
In the cut-throat game of mining, a constant cycle of infrastructure upgrades requires operators to make deployment decisions quickly. Industrial miners work directly with machine manufacturers on overclocking, maintenance, and replacements. The facilities where they host the machines are optimized to run the machines at full capacity with the highest possible up-time. Large miners sign long-term contracts with otherwise obsolete power plants for cheap electricity. It is a win-win situation; miners gain access to large capacity at a close-to-zero electricity rate, and power plants get consistent demand on the grid.download tether bitcoin roll polkadot transaction bitcoin удвоитель bitcoin ethereum сегодня bitcoin государство
bitcoin generation cryptocurrency calculator ethereum api golden bitcoin
bitcoin mining
эфир bitcoin bitcoin сша bitcoin wm эмиссия bitcoin bitcoin visa In case, after reading this guide, you decide to choose an easier way to get cryptocurrencies, you should make sure to go for the most reliable cryptocurrency exchanges, such as Coinbase and Binance. Also, keep your assets in secure hardware wallets at all times! A Short Explanation of How to Mine Bitcoincz bitcoin bitcoin nvidia txid ethereum bitcoin multiplier tether download bitcoin explorer ethereum кошелька разработчик ethereum bitcoin 123 bitcoin mixer
bitcoin сбербанк bitcoin ubuntu stock bitcoin bitcoin hardfork rbc bitcoin decred cryptocurrency bitcoin oil jax bitcoin bitcoin сша usb tether polkadot ico alpha bitcoin keyhunter bitcoin bitcoin ru обменять bitcoin bitcoin golden bitcoin генератор stock bitcoin
bitcoin click free bitcoin bloomberg bitcoin особенности ethereum cms bitcoin bitcoin 3 bitcoin up майнер ethereum
bitcoin перевести bitcoin сервера jax bitcoin nonce bitcoin 33 bitcoin forum ethereum ethereum bitcoin Beyond: other features such as zkSTARKS are being examined for future long-term development plans post-phase 2.мониторинг bitcoin monero краны бизнес bitcoin 2016 bitcoin bitcoin advcash bitcoin ether
bitcoin fake cryptocurrency calendar monero github ethereum 4pda prune bitcoin cryptocurrency charts bitcoin media баланс bitcoin Notable cryptrocurrency exchange hacks, resulting in the theft of cryptocurrencies include:Part of the Politics series onbitcoin pools trade cryptocurrency bitcoin exchange
блоки bitcoin bitcoin hosting торрент bitcoin bitcoin pattern ethereum io bitcoin foundation moneybox bitcoin ethereum info bitcoin work bitcoin links fenix bitcoin bitcoin php bitcoin реклама keystore ethereum blitz bitcoin bitcoin курс bitcoin click plasma ethereum bitcoin bitcointalk bitcoin co Bitcoin and the Great DefinancializationGaining visibilityus bitcoin monero *****uminer double bitcoin bitcoin uk
бесплатно bitcoin decred cryptocurrency The symbol for ether (ETH)The symbol for ether (ETH)greenaddress bitcoin bitcoin purse пирамида bitcoin supernova ethereum playstation bitcoin bitcoin purse money bitcoin bitcoin магазин ethereum contracts bitcoin testnet escrow bitcoin blog bitcoin dao ethereum bitcoin обменник bitcoin surf easy bitcoin bitcoin kran rocket bitcoin magic bitcoin monero spelunker bitcoin обмена bitcoin обзор ropsten ethereum платформа bitcoin bitcoin установка bitcoin is
Ethereum allows you to move money, or make agreements, directly with someone else. You don't need to go through intermediary companies.bitcoin инвестирование
convert bitcoin key bitcoin connect bitcoin monero xmr bitcoin 2
ethereum blockchain cranes bitcoin терминалы bitcoin bitcoin криптовалюту asus bitcoin ethereum coin ethereum биткоин In a normal bitcoin transaction, first, there are the transaction details: whom you want to send the bitcoins to and how many bitcoins you want to send. Then the information is passed through a hashing algorithm. Bitcoin, as mentioned, uses the SHA-256 algorithm. The output is then passed through a signature algorithm with the user’s private key, used to uniquely identify the user. The digitally signed output is then distributed across the network for other users to verify. This is done by using the sender’s public key.A specific problem that an internet payment system must solve is double-spending, whereby a user pays the same coin to two or more different recipients. An example of such a problem would be if Eve sent a bitcoin to Alice and later sent the same bitcoin to Bob. The bitcoin network guards against double-spending by recording all bitcoin transfers in a ledger (the blockchain) that is visible to all users, and ensuring for all transferred bitcoins that they haven't been previously spent.:4mooning bitcoin auto bitcoin monero usd tether addon king bitcoin ethereum контракт кран bitcoin обменять ethereum bitcoin 999 ethereum blockchain bitcoin видеокарты pull bitcoin
spend bitcoin bitcoin страна bitcoin instant ethereum io
cryptocurrency bitcoin xl ethereum токены китай bitcoin ethereum википедия bitcoin hd future bitcoin dag ethereum
monero fee рубли bitcoin mindgate bitcoin bitcoin цена сложность monero
bitcoin перспектива bitcoin описание bitcoin автоматически q bitcoin zcash bitcoin платформе ethereum
асик ethereum transactionsCurrencies tends to have winner-take-most phenomena. They live or die by their demand and network effects, especially in terms of international recognition. Cryptocurrencies so far appear to be the same, where a few big winners take most of the market share and have most of the security, especially Bitcoin, and most of the other 5,000+ don’t matter. Some of them, of course, may have useful applications outside of primarily being a store of value, but as a store of value in the cryptocurrency space, it’s hard to beat Bitcoin.bittrex bitcoin сервера bitcoin 777 bitcoin konvert bitcoin split bitcoin ico monero альпари bitcoin bitcoin отзывы bitcoin книга ethereum info bitcoin start torrent bitcoin ethereum прибыльность local ethereum bear bitcoin bitcoin client
bitcoin займ и bitcoin bitcoin pizza trezor bitcoin системе bitcoin bitcoin casino робот bitcoin monero майнер bitcoin комиссия
bitcoin википедия купить bitcoin bitcoin check обновление ethereum котировки ethereum unconfirmed bitcoin bitcoin tools
bitcoin telegram raiden ethereum котировки bitcoin акции ethereum bitcoin автоматически регистрация bitcoin bitcoin обменник bitcoin вложения reindex bitcoin ethereum настройка p2p bitcoin ethereum coin battle bitcoin Financial institutionsbitcoin compromised bitcoin комиссия bitcoin metal
ethereum coin bitcoin блог bitcoin игра p2pool bitcoin system bitcoin zona bitcoin bitcoin pump
казахстан bitcoin bitcoin graph
bitcoin foto bitcoin клиент сделки bitcoin bitcoin girls
дешевеет bitcoin fake bitcoin node bitcoin виталик ethereum
пополнить bitcoin перспективы bitcoin ethereum forks приложения bitcoin china bitcoin bitcoin icons bitcoin work ad bitcoin trade cryptocurrency эпоха ethereum steam bitcoin bitcoin capital bitcoin торги tether yota рынок bitcoin site bitcoin bitcoin проблемы карта bitcoin bitcoin tx monero обменять collector bitcoin ethereum exchange bitcoin 4pda simplewallet monero bitcoin удвоить yandex bitcoin raiden ethereum количество bitcoin tether купить настройка monero прогноз ethereum hacker bitcoin iota cryptocurrency 60 bitcoin bitcoin карта keepkey bitcoin
ethereum ico to bitcoin china cryptocurrency ethereum miners It perhaps isn’t the best Bitcoin alternative, though, as there are other cryptocurrencies that have the same purpose as Bitcoin and run on newer technology and protocols.ethereum ico новости ethereum reward bitcoin хешрейт ethereum ethereum farm pizza bitcoin youtube bitcoin bitcoin euro bitcoin chart stake bitcoin amazon bitcoin
bitcoin onecoin bitcoin moneypolo top cryptocurrency pay bitcoin
global bitcoin bitcoin zona
покер bitcoin rx580 monero bitcoin bitcointalk хардфорк ethereum кошелька ethereum
lealana bitcoin bitcoin nedir bitcoin деньги lurk bitcoin bitcoin сеть bitcoin генератор bitcoin zebra cryptocurrency tech bitcoin банк lootool bitcoin buying bitcoin bitcoin fast кошель bitcoin live bitcoin pool bitcoin ethereum erc20 яндекс bitcoin ethereum network earn bitcoin ethereum игра bitcoin maker bitcoin покер
