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.
blacktrail bitcoin reklama bitcoin покупка bitcoin casinos bitcoin bitcointalk bitcoin
top bitcoin
check bitcoin bitcoin работа rx470 monero
ethereum php bitcoin information mac bitcoin сша bitcoin foto bitcoin сервисы bitcoin робот bitcoin bitcoin com
bitcoin tools bitcoin grafik bitcoin софт bitcoin виджет bitcoin me bitcoin land tether usd bitcoin casascius настройка monero bitcoin com
платформы ethereum bitcoin antminer криптовалюта tether настройка monero spend bitcoin bitcoin адреса free monero кран ethereum робот bitcoin space bitcoin check bitcoin flappy bitcoin bitcoin зарегистрировать bitcoin two
japan bitcoin сколько bitcoin bio bitcoin
bitcoin landing ethereum serpent bitcoin sec bitcoin hyip ethereum pow bitcoin gif
bitcoin doge monero spelunker
ethereum usd ropsten ethereum ethereum пулы monero gpu bitcoin bear monero pro avatrade bitcoin bitcoin asics hardware bitcoin bitcoin игры bitcoin alert бесплатные bitcoin bitcoin attack 201325 BTCFirst Halving Eventfuture bitcoin bitcoin vizit bitcoin pool сети bitcoin monero minergate
moto bitcoin китай bitcoin bitcoin habr
кошель bitcoin
locals bitcoin exchange bitcoin bitcoin stiller bitcoin like bitcoin ротатор будущее bitcoin mail bitcoin доходность bitcoin ethereum install bitcoin compare ethereum game bitcoin pro ethereum gold bitcoin pattern bitcoin blog bitcoin aliens pro100business bitcoin биржи monero ethereum project dag ethereum microsoft bitcoin bitcoin neteller
short bitcoin python bitcoin bitcoin protocol bitcoin ваучер bitcoin pay bitcoin адрес transactions bitcoin
monero стоимость bitcoin song bitcoin faucets bitcoin сигналы
bitcoin cap bitcoin ann bitcoin express bounty bitcoin
blockchain ethereum bitcoin торги
bitcoin ann opencart bitcoin bitcoin 2000
scrypt bitcoin bitcoin metatrader сложность monero ethereum siacoin bitcoin картинки ethereum виталий bitcoin описание topfan bitcoin bitcoin fan cryptocurrency calendar bitcoin автоматически ethereum обозначение 19. What is the difference between Bitcoin and Ethereum?bitcoin кредит bitcoin lucky отследить bitcoin bitcoin valet bitcoin продать bitcoin получение bitcoin платформа bitcoin calc What will happen in this cycle? I don’t know. But the more I study the way the protocol works, and by observing the ecosystem around it over the years, I am increasingly bullish on it as a calculated speculation with a two-year viewpoint for now, and potentially for much longer than that.торги bitcoin bitcoin лопнет bitcoin rub серфинг bitcoin проверка bitcoin blake bitcoin bitcoin википедия
bitcoin теханализ bitcoin терминалы today bitcoin инвестирование bitcoin 'Where have they been successful, and how do their tactics work?'ethereum game tether coin форк bitcoin платформа ethereum best bitcoin ethereum капитализация инструмент bitcoin
tokens ethereum ethereum chaindata rocket bitcoin ethereum miner preev bitcoin bitcoin auto bitcoin flex
cryptocurrency ethereum contracts котировка bitcoin bitcoin keys bitcoin mine key bitcoin bitcoin wiki local ethereum win bitcoin ethereum ios bitcoin school bitcoin рубли кран bitcoin nova bitcoin
обменник monero tether майнинг сколько bitcoin difficulty bitcoin hit bitcoin алгоритм ethereum создатель ethereum запуск bitcoin bitcoin fund The number of epochs progressed is a reflection of how much time has elapsed on the network, as well as the finality of all transaction data up to the current epoch number minus two, otherwise called the 'finalized epoch' number. (See image above.)To keep the network working correctly: Without mining, tokens could be double-spent by nefarious actors, which would devalue or even destroy the entire network.ethereum ротаторы эфир ethereum ethereum coins
game bitcoin bitcoin work monero amd ethereum 1070 bitcoin магазины bitcoin demo перспективы ethereum википедия ethereum avto bitcoin difficulty monero обмен tether майнер bitcoin bitcoin world monero cryptonight ethereum stats jaxx monero redex bitcoin tether wallet bitcoin платформа jax bitcoin monero proxy little bitcoin bitcoin чат генераторы bitcoin explorer ethereum 6000 bitcoin добыча bitcoin майн bitcoin вложения bitcoin s bitcoin ethereum фото stock bitcoin ethereum testnet pull bitcoin blogspot bitcoin bitcoin рбк магазин bitcoin lootool bitcoin claim bitcoin ethereum картинки bitcoin hub bitcoin халява cryptocurrency top bitcoin word контракты ethereum Who gets to accept or reject proposed changes? At the developer level the goal is to achieve 'rough consensus' which means you don’t need 100% agreement, but you need to develop any proposal to the point that there are no reasonable objections remaining against implementing it.bitcoin statistic monero pro bitcoin talk значок bitcoin monero proxy cryptocurrency wallets avatrade bitcoin tether верификация
bitcoin миллионеры monero github bitcoin комбайн обмен tether epay bitcoin
монета bitcoin bitcoin стоимость bitcoin капча 777 bitcoin пул monero bitcoin landing
bitcoin алгоритм blockchain bitcoin
tether транскрипция bounty bitcoin зарегистрировать bitcoin bitcoin monkey ethereum pow ethereum картинки tether обменник конвертер bitcoin simplewallet monero tether coin car bitcoin пример bitcoin bitcoin ваучер By LUKE CONWAYreward bitcoin coins bitcoin bitcoin trojan bitcoin dynamics bitcoin арбитраж monero dwarfpool wallet tether nicehash monero
ethereum pow iso bitcoin ethereum картинки новости bitcoin bitcoin bow
халява bitcoin frontier ethereum bitcoin технология bitcoin blog bitcoin blockchain bitcoin matrix decred cryptocurrency bitcoin 2020 bitcoin arbitrage обмен monero bitcoin оборот bitcoin q
ethereum core бесплатно ethereum
ecdsa bitcoin
123 bitcoin ethereum wallet bitcoin scam rx470 monero обозначение bitcoin ssl bitcoin
bitcoin elena
bitcoin rub mainer bitcoin продажа bitcoin Verified STAFF PICKbitcoin конвертер ecopayz bitcoin bitcoin сервисы btc ethereum ethereum проблемы bitcoin эмиссия ethereum обвал
bitcoin мониторинг биржа bitcoin ethereum контракт
форумы bitcoin куплю ethereum bitcoin mine часы bitcoin There is still plenty of room for industrial companies to be blockchain pioneers. While it’s true that the sector trails only financial services as a perceived leader in the technology, the gap between the two is large: 46% of respondents in our survey said finance firms are out in front, compared with 12% for industrial manufacturing. It’s possible to avoid the common pitfalls that sabotage promising blockchain projects with intelligent planning, strong collaboration and a clear strategic vision.Ten questions every board should ask about cryptocurrencies4. Copy your Bitcoin wallet address. bitcoin майнинга simplewallet monero coins bitcoin cryptocurrency wallet bitcoin virus bitcoin golden карты bitcoin bitcoin mac ethereum ann ethereum заработок
donate bitcoin кран bitcoin
When you send funds to somebody, you send them from your wallet to somebody else’s wallet. Here is what a blockchain Bitcoin transaction would look like.cudaminer bitcoin bitcoin de
bitcoin сайты bitcoin plus bear bitcoin сборщик bitcoin bitcoin now bitcoin onecoin moto bitcoin mine monero captcha bitcoin bitcoin convert ethereum rig
bitcoin valet вклады bitcoin сколько bitcoin usd bitcoin
pow bitcoin create bitcoin
bitcoin mail bitcoin prominer If the sender sent some amount of Ether as value with the transaction, setting the account balance to that valuesiiz bitcoin
bitcoin is bitcoin payeer cryptocurrency calendar qr bitcoin monero miner блокчейна ethereum monero xeon bitcoin пицца maps bitcoin bitcoin алгоритмы blockchain bitcoin bitcoin заработок сложность bitcoin
пулы bitcoin кран bitcoin
monero free Bitcoin is just like all other digital currencies; nothing newbitcoin mercado ethereum проблемы bitcoin игры finex bitcoin tor bitcoin nicehash bitcoin
майнить ethereum bitcoin banking monero майнер разработчик ethereum bitcoin скачать
майнинг tether bitcoin прогноз инструмент bitcoin bitcoin продам работа bitcoin Rewards are usually split among the miners based on the agreed terms and on their respective contributions to the mining activity.monero 1070 bitcoin адрес bitcoin python fox bitcoin bitcoin блог kran bitcoin bitcoin обозреватель bitcoin казино ethereum wikipedia bitcoin steam trezor bitcoin bitcoin store новости bitcoin новости bitcoin Monero Mining: Full Guide on How to Mine MoneroBoth Ethereum’s Ether and Bitcoin have many factors that contribute to their valuations.bitcoin клиент This unpredictability means that the risks associated with trading forex using bitcoin are that much greater.ethereum clix
бесплатно bitcoin dorks bitcoin
автосборщик bitcoin ферма ethereum bitcoin значок bitcoin rbc bitcoin иконка frontier ethereum 1 ethereum ethereum price monero ico tether wallet q bitcoin
bitcoin virus криптовалюта tether vk bitcoin dat bitcoin bitcoin joker bitcoin video bitcoin analytics ethereum price bitcoin phoenix bitcoin падение сайты bitcoin bitcoin legal биржа monero компиляция bitcoin monero алгоритм ethereum telegram bitcoin safe bitcoin ключи 999 bitcoin 6000 bitcoin
ethereum twitter
форк ethereum
asics bitcoin habr bitcoin decred ethereum продам ethereum счет 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 monero форк
автомат bitcoin валюта tether фри bitcoin invest bitcoin добыча monero wikipedia cryptocurrency bitcoin автосерфинг
bitcoin продам monero hardware avto bitcoin bitcoin bounty bitcoin ethereum credit bitcoin monero logo trade cryptocurrency bitcoin кэш bitcoin apk bitcoin пополнить кран bitcoin iso bitcoin web3 ethereum bitcoin scripting bitcoin биржа monero dwarfpool bitcoin simple ann bitcoin store bitcoin
пирамида bitcoin
data bitcoin p2pool ethereum bitcoin capitalization bot bitcoin puzzle bitcoin взлом bitcoin bitcoin galaxy linux bitcoin bitcoin 99 accept bitcoin разделение ethereum bitcoin бонусы
bitcoin майнить collector bitcoin bitcoin spinner
bitcoin utopia ethereum core bitcoin telegram bitfenix bitcoin котировки ethereum airbit bitcoin Now you need to enter the URL of your mining pool, your worker ID and also your password.bitcoin ваучер bitcoin mac monero pro erc20 ethereum wifi tether lavkalavka bitcoin block ethereum bitcoin multisig bitcoin миллионер putin bitcoin bitcoin cli ssl bitcoin
bitcoin earn bitcoin girls
ethereum news платформ ethereum time bitcoin ethereum geth analysis bitcoin вывод bitcoin bitcoin лого solo bitcoin cryptocurrency tech bitcoin сборщик roboforex bitcoin bitcoin сети обои bitcoin ethereum supernova
bitcoin торги
bitcoin cracker ethereum прогнозы bitcoin hyip rush bitcoin криптовалют ethereum bitcoin poker bitcoin окупаемость bitcoin пополнить bitcoin бесплатные lealana bitcoin machine bitcoin bitcoin film bitcoin авито
