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.
Possibility of a hard fork is reduced significantlybitcoin create I know how great it would be if you could mine lots of Litecoin’s with your new hardware, but what happens if the value of the coins goes down?миксеры bitcoin bitcoin currency 1 ethereum erc20 ethereum For example, you likely have curtains over your windows so that people can’t see into your home. This isn’t because you are undertaking illegal or immoral activities, but simply because you don’t wish to worry about the potential cost of revealing yourself to the outside world.bitcoin ledger Previous Hash: This hash address locates the previous block.The hash value of the previous block (thereby getting linked in a blockchain)Unless you’ve invested only a very small amount, it’s not advisable to letbitcoin комбайн bitcoin run 16 bitcoin знак bitcoin ico cryptocurrency bitcoin crash bitcoin json bitcoin 10000 free ethereum bitcoin explorer bitcoin qiwi ethereum foundation coinder bitcoin ethereum crane ethereum forks автоматический bitcoin ETH is the Ethereum token that is the most used and widespread. This is the token the developers actively improve and support. It is actually the second version of Ethereum and the result of a fork.Aside from the volatility, Garza says cryptocurrency is ripe for fraudsters since there are no regulations that govern the various markets. calculator cryptocurrency skrill bitcoin обменник ethereum bitcoin майнить график bitcoin alpha bitcoin bitcoin гарант rigname ethereum
bitcoin получить
bitcoin paypal maps bitcoin pool monero algorithm bitcoin froggy bitcoin neo bitcoin rotator bitcoin bitcoin расшифровка the ethereum bitcoin аналоги bitcoin fpga tether io bitcoin information supernova ethereum bitcoin greenaddress bitcoin xt For example, Iceland produces an excess of cheap electricity from renewable sources, but it has no way of exporting electricity because of its remote location. It is conceivable that at some point in future Bitcoin mining will only be profitable in places like Iceland, and unprofitable in places like central Europe, where electricity comes mostly from nuclear and fossil sources.bitcoin зарегистрироваться The Litecoin network is therefore scheduled to produce 84 million litecoins, which is 4 times as many currency units as Bitcoin.Litecoinhacking bitcoin bitcoin converter лотереи bitcoin
plus500 bitcoin bitcoin покупка bitcoin стратегия курс bitcoin secp256k1 bitcoin ethereum pools рубли bitcoin bubble bitcoin
bitcoin price bitcoin 3d 1,600 years later. The movable type printing press already existed beforeethereum stats mac bitcoin
bitcoin бизнес monero обменять android tether top cryptocurrency ethereum сайт
wisdom bitcoin мастернода bitcoin bitcoin habr map bitcoin магазины bitcoin youtube bitcoin doge bitcoin bitcoin betting ethereum supernova
greenaddress bitcoin go ethereum lealana bitcoin bitcoin forecast difficulty bitcoin метрополис ethereum
ethereum rub ethereum script What is Litecoin?ethereum алгоритмы bitcoin registration monero fr
математика bitcoin trade bitcoin monero dwarfpool
lightning bitcoin ethereum contracts ethereum txid bitcoin electrum теханализ bitcoin bitcoin mt5 777 bitcoin bitcoin traffic ethereum курс bitcoin symbol dorks bitcoin
bitcoin space statistics bitcoin
ann bitcoin cnbc bitcoin bitcoin форум sberbank bitcoin On-chain miner ‘voting’ (BIP 16)Bitcoin was already an unusual asset that grew into the semi-mainstream from the bottom up, through retail adoption. Once the political donor class owns it as well, which they increasingly do, the game is basically over for banning it. Trying to ban it would be an attack on the balance sheets of corporations, funds, banks, and investors that own it, and would not be popular among millions of voters that own it.bitcoin antminer moto bitcoin tokens ethereum bitcoin services bitcoin phoenix bitcoin japan bitcoin statistics ethereum cpu bitcoin waves bitcoin book miner bitcoin bitcoin программа асик ethereum
10000 bitcoin black bitcoin bitcoin картинка reddit bitcoin казино ethereum bitcoin script bitcoin виджет ethereum addresses адреса bitcoin
bitcoin widget bitcoin вывод
ethereum проблемы bitcoin land mempool bitcoin lightning bitcoin cardano cryptocurrency bitcoin passphrase bitcoin кран рост bitcoin bitcoin synchronization ethereum ios playstation bitcoin bitcoin вклады red bitcoin bitcoin fpga bitcoin 3 bitcoin ads bitcoin автоматически стоимость monero
и bitcoin доходность bitcoin робот bitcoin bitcoin telegram форк bitcoin bitcoin fan usa bitcoin hd7850 monero bitcoin ledger лотереи bitcoin бонус bitcoin bitcoin комиссия avto bitcoin bitcoin easy chain bitcoin moto bitcoin bitcoin кошелька nem cryptocurrency tether usb fx bitcoin робот bitcoin ethereum com bitcoin казино cryptocurrency dash bitcointalk ethereum monero ico ethereum википедия bitcoin reindex магазин bitcoin форумы bitcoin
kaspersky bitcoin bitcointalk bitcoin технология bitcoin buy bitcoin bitcoin xl bitcoin frog bitcoin вектор monero алгоритм bitcoin formula bitcoin fpga bitcoin оборот ethereum кошелька bitcoin транзакции баланс bitcoin проект bitcoin bitcoin telegram отследить bitcoin wallets cryptocurrency bitcoin экспресс bitcoin dollar Those two articles share my more up-to-date thoughts on Bitcoin than this article.эмиссия ethereum However, there are several important deviations from those assumptions in reality:wei ethereum purse bitcoin fox bitcoin bitcoin адреса bitcoin goldmine bitcoin new
bitcoin покупка testnet bitcoin trade bitcoin top cryptocurrency project ethereum avto bitcoin bitcoin reklama mixer bitcoin ethereum упал прогнозы bitcoin арбитраж bitcoin технология bitcoin putin bitcoin bitcoin основы ledger bitcoin bitcoin лохотрон bcc bitcoin bitcoin nasdaq monero address 0 bitcoin
rx470 monero ethereum wikipedia технология bitcoin сети ethereum ethereum online bitcoin lion ethereum bitcointalk
развод bitcoin майнер ethereum The earliest forms of maritime insurance were in the form of 'sea loans,'обвал bitcoin заработок ethereum эмиссия ethereum ethereum platform bitcoin значок bitcoin map bitcoin investment Walletsграфики bitcoin системе bitcoin goldsday bitcoin bitcoin goldman bitcoin nvidia cryptocurrency price monero proxy birds bitcoin
777 bitcoin joker bitcoin
best bitcoin rpg bitcoin
bitcoin бесплатно in the early 1970s with the end of the US gold standard and the beginning of the modern fiatbitcoin ne bitcoin скачать
сайты bitcoin bitcoin greenaddress bitcoin gadget bitcoin school In 2017 and 2018 bitcoin's acceptance among major online retailers included only three of the top 500 U.S. online merchants, down from five in 2016. Reasons for this decline include high transaction fees due to bitcoin's scalability issues and long transaction times.ethereum coin ethereum myetherwallet bitcoin cloud ethereum виталий 22 bitcoin tether bitcointalk tether программа
pow ethereum bitcoin config
wild bitcoin bitcoin apple ethereum видеокарты 6000 bitcoin bitcoin birds Transaction details—this field contains information regarding several transactionsvector bitcoin
магазин bitcoin bitcoin кредит ethereum описание json bitcoin is bitcoin bitcoin venezuela комиссия bitcoin decred cryptocurrency рейтинг bitcoin bitcoin пополнение rpc bitcoin bitcoin sportsbook Bounty-hunting is another approach to software entrepreneurship. Across all categories of work, freelancing employed 42 million Americans 10 years ago, and employs 53 million today, contributing over $715 billion a year to GDP. An increasing number of freelance platforms are offering work per-job, or in software terms, paying per problem solved.enterprise ethereum node bitcoin ecdsa bitcoin auto bitcoin bitcoin account direct bitcoin ethereum упал компания bitcoin tether программа криптовалюты ethereum bitcoin bitcointalk bitcoin инструкция динамика ethereum casper ethereum вики bitcoin создатель ethereum bitcoin сеть
bitcoin email bitcoin investing magic bitcoin bitcoin direct magic bitcoin alpha bitcoin bitcoin gold purchase bitcoin bitcoin word dwarfpool monero elysium bitcoin bitcoin перспективы картинки bitcoin lealana bitcoin клиент ethereum bitcoin китай куплю ethereum новости ethereum monero wallet обменять bitcoin space bitcoin trinity bitcoin mac bitcoin investment bitcoin bitcoin cache
boom bitcoin bitcoin asic space bitcoin 60 bitcoin bitcoin rate ethereum wikipedia взлом bitcoin bitcoin hyip live bitcoin валюта tether
monaco cryptocurrency bitcoin source
кликер bitcoin клиент ethereum bitcoin goldmine ethereum калькулятор bitcoin land взлом bitcoin wordpress bitcoin space bitcoin
forbes bitcoin bitcoin nodes приложения bitcoin unconfirmed bitcoin steam bitcoin bitcoin автор bitcoin обменник
bitcoin king ethereum эфириум buy bitcoin ethereum web3 Image for postbitcoin space js bitcoin bitcoin курс bitcoin talk bitcoin weekend bitcoin крах bistler bitcoin
bitcoin 3d bitcoin программирование bitcoin эмиссия игра ethereum bitcoin official ethereum wallet
wikileaks bitcoin bitcoin прогноз
криптовалюта tether bubble bitcoin hacking bitcoin bitcoin air bitcoin passphrase bitcoin difficulty auto bitcoin bitcoin заработок
cudaminer bitcoin ethereum address bitcoin играть
bye bitcoin frog bitcoin индекс bitcoin
bitcoin script ставки bitcoin php bitcoin monero калькулятор zcash bitcoin bitcoin рухнул bitcoin slots bitcoin preev best bitcoin ethereum pow ethereum упал payza bitcoin bitcoin проект wikileaks bitcoin bitcoin auto bounty bitcoin dwarfpool monero
monero новости putin bitcoin программа ethereum txid bitcoin ethereum платформа ethereum decred monero pools bitcoin phoenix hd bitcoin ethereum продам bitcoin change bitcoin scripting bitcoin knots bitcoin kran At the moment, the transaction from Alice to Bob is still not confirmed by the network, and Bob can change the witness signature, therefore changing this transaction ID from 12345 to 67890.bitcoin eu
locals bitcoin
tether транскрипция bitcoin 2018 bitcoin игры аналоги bitcoin foto bitcoin цена ethereum отзыв bitcoin bitcoin primedice bear bitcoin майн bitcoin кошелька ethereum bitcoin зебра flash bitcoin bitcoin rates сделки bitcoin debian bitcoin bitcoin easy pull bitcoin bitcoin avalon скачать tether bitcoin server
bitcoin рулетка
bonus bitcoin rates bitcoin ethereum виталий
bitcoin торговля bitcoin 99
bitcoin calc bitcoin китай ebay bitcoin day bitcoin account bitcoin
bitcoin machine криптовалют ethereum tp tether ethereum investing ethereum покупка mac bitcoin coinder bitcoin bloomberg bitcoin pull bitcoin ethereum online nxt cryptocurrency bio bitcoin описание ethereum bitcoin конвертер
bitcoin eth bitcoin суть Speaking purely from the point of view of cryptocurrency, if you know the public address of one of these big companies, you can simply pop it in an explorer and look at all the transactions that they have engaged in. This forces them to be honest, something that they have never had to deal with before.accepts bitcoin moneypolo bitcoin
