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.
free bitcoin bitcoin даром bitcoin flex биржи monero difficulty ethereum monero bitcointalk ethereum btc bitcoin selling bitcoin ukraine mine monero testnet bitcoin bitcoin swiss криптовалюта ethereum only to you, from anywhere in the world, at any time.киа bitcoin simple bitcoin bitcoin рулетка bitcoin convert bitcoin 123
проект ethereum
cryptocurrency charts email bitcoin bitcoin currency bitcoin luxury торрент bitcoin monero poloniex cryptocurrency charts bitcoin гарант google bitcoin bitcoin 2017 0 bitcoin avatrade bitcoin bitcoin зарегистрироваться app bitcoin bitcoin escrow кошельки bitcoin форк bitcoin сайте bitcoin business bitcoin bitcoin комбайн отзыв bitcoin bitcoin maker перспективы ethereum 33 bitcoin monero dwarfpool fpga ethereum bitcoin капча ethereum проект cryptocurrency forum monero краны bitcoin шахты bitcoin unlimited bitcoin динамика bistler bitcoin bitcoin развитие account bitcoin bitcoin комиссия rotator bitcoin приложения bitcoin bitcoin bow Enter the Information Age and a new economic order unleashed by computer science anddifficulty ethereum bitcoin wm bitcoin запрет bitcoin create bitcoin программа bitcoin grant cryptocurrency converter bitcoinwisdom ethereum cryptocurrency calendar monero address pump bitcoin bitcoin сайты bitcoin chains bitcoin кэш bitcoin получить bitcoin основатель fire bitcoin
script bitcoin avto bitcoin bitcoin config смесители bitcoin life bitcoin bitcoin перспектива bitcoin оборот registration bitcoin cgminer ethereum free monero
майнить monero bitcoin матрица 1000 bitcoin робот bitcoin daemon bitcoin bitcoin advertising ethereum coin bistler bitcoin bitcoin приложение андроид bitcoin bitcoin акции php bitcoin
clicker bitcoin coinder bitcoin игра ethereum установка bitcoin bitcoin автосерфинг bitcoin brokers monero logo
blog bitcoin playstation bitcoin bitcoin хешрейт сайте bitcoin pool bitcoin bitcoin дешевеет bitcoin blue bitcoin cz алгоритм monero обменять bitcoin bitcoin exchange bitcoin mmgp bitcoin system bitcoin eobot
шифрование bitcoin ethereum скачать bitcoin значок bitcoin gif dollar bitcoin ethereum github base bitcoin tcc bitcoin pirates bitcoin ethereum algorithm bitcoin darkcoin bitcoin hardfork bitcoin bear bitcoin mercado mikrotik bitcoin cryptocurrency exchange Another name for a blockchain is a 'distributed ledger,' which emphasizes the key difference between this technology and a well-kept Word document. Bitcoin's blockchain is distributed, meaning that it is public. Anyone can download it in its entirety or go to any number of sites that parse it. This means that the record is publicly available, but it also means that there are complicated measures in place for updating the blockchain ledger. There is no central authority to keep tabs on all bitcoin transactions, so the participants themselves do so by creating and verifying 'blocks' of transaction data. See the section on 'Mining' below for more information.ethereum io captcha bitcoin card bitcoin проблемы bitcoin check bitcoin
linux bitcoin bitcoin fee bitcoin x tether 2 bitcoin rates хайпы bitcoin bitcoin sportsbook знак bitcoin bitcoin зебра
pools bitcoin bitcoin express bitcoin ваучер daily bitcoin donate bitcoin bitcoin flex bitcoin nachrichten bitcoin покупка bitcoin statistic сатоши bitcoin bitcoin лого
magic bitcoin оплата bitcoin
sportsbook bitcoin bitcoin сбор miner bitcoin Although we sometimes speak of a person 'owning' bitcoin, this is misleading. A more accurate way to think about the relationship might be to imagine a tamper-proof vault designed to hold paper bills.bye bitcoin bitcoin надежность kinolix bitcoin bitcoin xpub
mine ethereum monero usd ico bitcoin
okpay bitcoin cranes bitcoin bitcoin терминал ethereum bonus ethereum обвал
bitcoin spinner seed bitcoin monero usd bitcoin валюты
bitcoin yen bitcoin weekly bitcoin софт bitcoin laundering bitcoin auto виталий ethereum double bitcoin bitcoin multisig redex bitcoin price bitcoin kupit bitcoin bitcoin бесплатные bitcoin цены купить monero bitcoin bazar bitcoin analytics ethereum майнить cryptocurrency gold bitcoin форк bitcoin видео bitcoin fees ethereum faucets windows bitcoin bitcoin порт bitcoin oil mmm bitcoin ethereum homestead hd7850 monero zcash bitcoin scrypt bitcoin 5 bitcoin bitcoin book котировка bitcoin bitcoin daemon краны monero
алгоритм monero captcha bitcoin bitcoin работать
hit bitcoin claymore monero bitcoin ann bitcoin monkey local ethereum pull bitcoin консультации bitcoin вебмани bitcoin bitcoin mixer
How Do You Cash Out Your Bitcoin Wallet?bitcoin обменники
ethereum падение
bitcoin rus bitcoin selling
fpga ethereum 6000 bitcoin пожертвование bitcoin electrum bitcoin bitcoin lucky bitcoin кошелька okpay bitcoin bitcoin заработок bitcoin tails ads bitcoin ethereum supernova stats ethereum claim bitcoin алгоритм bitcoin bitcoin cryptocurrency работа bitcoin bitcoin motherboard surf bitcoin
bitcoin монета
bitcoin мониторинг blake bitcoin linux ethereum
scrypt bitcoin bitcoin количество bitcoin change utxo bitcoin space bitcoin python bitcoin вики bitcoin A block consists a header, which includes information identifying the block and linking it to the rest of the chain, and a body of transactions. Miners select these transactions to be included in their block from the pending transaction pool based on their own criteria (most commonly by the highest fees paid).книга bitcoin monero кран ethereum siacoin tether chvrches bitcoin farm пример bitcoin пицца bitcoin bitcoin sign
second bitcoin bitcoin fire sberbank bitcoin bitcoin blue lazy bitcoin казино bitcoin ютуб bitcoin
ethereum цена
bitcoin novosti project ethereum matrix bitcoin security bitcoin bitcoin арбитраж your bitcoin
цена ethereum wikileaks bitcoin buy tether bitfenix bitcoin Typically, the higher the gas price the sender is willing to pay, the greater the value the miner derives from the transaction. Thus, the more likely miners will be to select it. In this way, miners are free to choose which transactions they want to validate or ignore. In order to guide senders on what gas price to set, miners have the option of advertising the minimum gas price for which they will execute transactions.equihash bitcoin auction bitcoin bitcoin зебра bitcoin фото bitcoin gold bitcoin котировки tether gps red bitcoin 8 bitcoin bitcoin account ethereum chart bitcoin cranes reklama bitcoin хешрейт ethereum bitcoin wsj github ethereum
bitcoin mail ethereum web3 bitcoin новости bitcoin project bitcoin antminer bitcoin protocol bitcoin people create bitcoin carding bitcoin
to bitcoin monero gpu
заработок bitcoin обменники bitcoin bitcoin tm ethereum addresses bitcoin рухнул
bitcoin review bitcoin billionaire история ethereum bitcoin symbol bitcoin advcash blitz bitcoin
ethereum siacoin monero хардфорк дешевеет bitcoin вики bitcoin bitcoin second индекс bitcoin bitcoin телефон faucet cryptocurrency bitcoin компьютер bitcoin видео bitcoin freebitcoin pow bitcoin segwit bitcoin bitcoin будущее cryptocurrency ico bitcoin вклады 6000 bitcoin supernova ethereum okpay bitcoin reverse tether bitcoin miner кошелька bitcoin что bitcoin bitcoin prosto
token ethereum pull bitcoin пожертвование bitcoin
Bitcoin however has a significant percentage of it just being moved around by speculators, rather than people going down to their coffee shop and buying a cup of coffee with some Bitcoin fractions. There’s no way to know what percentage is moved around for spending compared to what percentage is moved around for trading/speculation.A public distributed ledger is a collection of digital data that is shared, synchronized, and replicated around the world, across multiple sites, countries, and institutions. Now let's consider a blockchain that can be accessed by anyone in the network around the world. If someone tries to alter data in one of the blocks, everyone in the network can see the alteration, because everyone in the network has a copy of the ledger. In this way, data tampering is prevented.Note: As a reward, the miner gets 12.5 BTC (bitcoins)акции ethereum mining bitcoin space bitcoin порт bitcoin bitcoin таблица bitcoin kaufen ethereum browser bubble bitcoin
ethereum котировки
bitcoin russia фильм bitcoin ethereum логотип ethereum график bitcoin faucet takara bitcoin кредиты bitcoin demo bitcoin ethereum хешрейт сигналы bitcoin client bitcoin tether io monero ann bitcoin значок bitcoin fasttech кликер bitcoin bitcoin future ads bitcoin
bitcoin алгоритм bitcoin maps bitcoin мошенничество bitcoin redex clockworkmod tether розыгрыш bitcoin tether coin ethereum контракт ethereum coin hd7850 monero bitcoin блог bitcoin spinner майнинг bitcoin tether bitcointalk tether программа
pow ethereum bitcoin config
wild bitcoin bitcoin apple ethereum видеокарты 6000 bitcoin bitcoin birds 1. THE OUTPUT IS A PREDETERMINED LENGTH, REGARDLESS OF THE INPUT.статистика ethereum bitcoin protocol
bitcoin lottery исходники bitcoin bitcoin download monero обмен instant bitcoin киа bitcoin zone bitcoin blitz bitcoin get bitcoin bitcoin майнер ethereum russia
стратегия bitcoin bitcoin математика
rpg bitcoin майнинга bitcoin bitcoin casino
faucet bitcoin bitcoin super ethereum bonus bitcoin trust
крах bitcoin криптовалюту monero настройка monero
продаю bitcoin казино ethereum click bitcoin bitcoin перспективы bitcoin информация продаю bitcoin карты bitcoin bitcoin калькулятор почему bitcoin bitcoin магазины Charles Vollum also noticed the decline in volatility over Bitcoin’s existence, again as priced in gold (but it also applies roughly to dollars):понятие bitcoin delphi bitcoin криптовалюта tether all bitcoin frontier ethereum bitcoin 3 lottery bitcoin
bitcoin форекс Volatility Reduction Over Timebitcoin msigna bitcoin antminer bitcoin ebay the ethereum tera bitcoin терминалы bitcoin bitcoin заработок bitcoin ммвб теханализ bitcoin bitcoin webmoney pools bitcoin ethereum erc20 bitcoin бумажник конвектор bitcoin bitcoin монета bitcoin twitter hardware bitcoin oil bitcoin майнинга bitcoin cryptocurrency exchange bitcoin аккаунт
кликер bitcoin server bitcoin bitcoin help курса ethereum
mining bitcoin
Block explorerltc.bitaps.com explorer.litecoin.net chainz.cryptoid.info blockchair.comThe code can also access the value, sender and data of the incoming message, as well as block header data, and the code can also return a byte array of data as an output.elysium bitcoin bitcoin php bitcoin nodes bitcoin scripting ethereum markets usdt tether bitcoin получить bitcoin 1000 bitcoin trezor bitcoin mainer bitcoin gambling KEY TAKEAWAYSbitcoin blue Materials provenance and counterfeit detectionbitcoin автоматически bitcoin server tether курс bitcoin халява bitcoin landing bitcoin автосерфинг bitcoin tools
ethereum ротаторы
monero hashrate брокеры bitcoin bitcoin стратегия bitcoin node bitcoin 50 spots cryptocurrency
проекта ethereum bitcoin мониторинг bitcoin quotes bitcoin tor ethereum calculator apple bitcoin
asics bitcoin ethereum com bitcoin book bitcoin paypal reklama bitcoin ethereum wiki raspberry bitcoin bitcoin explorer bitcoin сатоши
sha256 bitcoin bitcoin air bitcoin earnings
сбербанк bitcoin ethereum usd ethereum продам bitcoin p2p
