Cryptocurrency litecoin

24.08.201924.08.2019 Faubar

cryptocurrency litecoin

Litecoin (LTC) is widely considered to be the first alternative cryptocurrency. It was launched on October 13, , with the goal of being “the silver to. Litecoin is a cryptocurrency designed by former Google and engineer for a crypto exchange, Charlie “Satoshi Lite” Lee. Lee is a controversial figure in the. Litecoin can be purchased on a cryptocurrency exchange and stored in a crypto wallet and custodian like Gemini. Characteristics. If bitcoin resembles “digital. CRYPTO ANALYST TWITTER

Litecoin has a block time of just 2. Litecoin was released via an open-source client on GitHub on Oct. Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence. The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a "lite version of Bitcoin," in that it features many of the same properties as Bitcoin—albeit lighter in weight.

Who Are the Founders of Litecoin? As we previously touched on, Litecoin was founded by Charlie Lee, an early cryptocurrency adopter and a name held in high regard in the cryptocurrency industry. In addition, Charlie Lee held the role of director of engineering at Coinbase between and before moving on to other ventures. Today, Charlie Lee is an outspoken advocate of cryptocurrencies and is the managing director of the Litecoin Foundation—a non-profit organization that works alongside the Litecoin Core Development team to help advance Litecoin.

Besides Lee, the Litecoin Foundation also includes three other individuals on the board of directors: Xinxi Wang, Alan Austin and Zing Yang — all of which are accomplished in their own right. What Makes Litecoin Unique? Behind Bitcoin, Litecoin is the second most popular pure cryptocurrency. This success can be largely attributed to its simplicity and clear utility benefits.

As of January , Litecoin is one of the most widely accepted cryptocurrencies, and more than 2, merchants and stores now accept LTC across the globe. Its main benefit comes from its speed and cost-effectiveness. Litecoin transactions are typically confirmed in just minutes, and transaction fees are nearly negligible.

This makes it an attractive alternative to Bitcoin in developing countries, where transaction fees may be the deciding factor on which cryptocurrency to support. In late , Litecoin also saw the release of the MimbleWimble MW testnet, which is used to test Mimblewimble-based confidential transactions on Litecoin. Once this feature is available on the mainnet, Litecoin users will also benefit from greatly enhanced privacy and fungibility.

At the time, the Litecoin developers aimed to further focus on improving anonymity between senders and receivers. Following the MimbleWimble upgrade at Litecoin block 2,,, users could opt for moe transaction privacy and explore other benefits, including blocks containing less needless transaction data. More specifically, long transactions are broken down into a single transfer by recording one input-output pair. However, the upgrade puts Litecoin in the crosshairs of regulators who do not take kindly to privacy-capable cryptocurrencies.

Some effects of the upgrade became rather apparent when several South Korean exchanges started delisting Litecoin from their platforms shortly after the MWEB upgrade went into effect. They speculate that Litecoin will build relative wealth over time like other investments.

Litecoin Maximum Supply Litecoin was released with pre-mined coins and has a total supply of 84 million coins. The Litecoin supply is designed to reduce over time to preserve the coin's value. As of April , there are 14 million Litecoins left to mine. Litecoin Halving Halving refers to reducing the reward given when a block's hash and the transaction information within the block are validated and a new block is created.

Halving reduces the number of Litecoins awarded by one-half, which helps to slow down the creation of new coins. Halving dates for LTC: Aug. Scrypt is more memory-intensive and slower than SHA But it found greater acceptance in the cryptocurrency community after the Tenebrix project modified Scrypt to work with regular CPUs for mining. The significantly larger memory requirements for Scrypt also made it difficult to develop application-specific integrated circuit ASIC miners.

Litecoin Developments Litecoin has moved away from its mining ecosystem dominated by individual miners to a corporatized setup, where large mining pools run by tech firms account for an overwhelming majority of Litecoin mining. It has a much lower market capacity than more popular coins. However, it is still one of the most traded cryptocurrencies, maintaining a position within the top 30 coins out of the more than 18, tracked by CoinMarketCap.

This demonstrates that it is still a popular cryptocurrency but doesn't have the investor interest that Bitcoin and some newer coins have. Where to Buy Litecoin Most cryptocurrencies can be purchased on cryptocurrency exchanges. Several exchanges can conduct transactions within the United States; many more are outside the U.

It's important to note that exchanges within the U.

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The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a "lite version of Bitcoin," in that it features many of the same properties as Bitcoin—albeit lighter in weight. Who Are the Founders of Litecoin?

As we previously touched on, Litecoin was founded by Charlie Lee, an early cryptocurrency adopter and a name held in high regard in the cryptocurrency industry. In addition, Charlie Lee held the role of director of engineering at Coinbase between and before moving on to other ventures.

Today, Charlie Lee is an outspoken advocate of cryptocurrencies and is the managing director of the Litecoin Foundation—a non-profit organization that works alongside the Litecoin Core Development team to help advance Litecoin. Besides Lee, the Litecoin Foundation also includes three other individuals on the board of directors: Xinxi Wang, Alan Austin and Zing Yang — all of which are accomplished in their own right. What Makes Litecoin Unique? Behind Bitcoin, Litecoin is the second most popular pure cryptocurrency.

This success can be largely attributed to its simplicity and clear utility benefits. As of January , Litecoin is one of the most widely accepted cryptocurrencies, and more than 2, merchants and stores now accept LTC across the globe. Its main benefit comes from its speed and cost-effectiveness. Litecoin transactions are typically confirmed in just minutes, and transaction fees are nearly negligible.

More specifically, long transactions are broken down into a single transfer by recording one input-output pair. However, the upgrade puts Litecoin in the crosshairs of regulators who do not take kindly to privacy-capable cryptocurrencies. Some effects of the upgrade became rather apparent when several South Korean exchanges started delisting Litecoin from their platforms shortly after the MWEB upgrade went into effect.

Per South Korean regulation, crypto exchanges need to mitigate money laundering and illicit activities at all costs. That means removing any currencies that provide users with additional privacy or anonymity. Get up to date with the latest Litecoin updates and discussion. Through halving, the miner reward for successfully recording new blocks to the Litecoin blockchain is decreased halved at regular intervals. Over the past few years, that reward has decreased via halving to The next LTC halving is expected to happen in How Is Litecoin Used?

Litecoin is highly liquid, which makes it a crypto for easier trades. In fact, Litecoin holders will find that merchants such as Newegg, SlingTV and even nonprofits like the American Red Cross are happy to accept their cryptocurrency. At the time of this writing, Bitcoin transaction fees were significantly higher, at around 3. There are also newer cryptocurrencies with faster TPS speeds.

Should You Buy Litecoin? While Litecoin remains one of the most-traded cryptocurrencies, does it make for a sound crypto investment?