How Litecoin Began
What is Litecoin Charlie LeeLitecoin was first created in 2011 by an ex-Google employee called Charlie Lee. Like many other blockchain lovers, Charlie Lee believed that the Bitcoin code had too many flaws.
These flaws related to:
Bitcoin’s failure to speed up transactions;
The way it was mined (explained later);
Its ability to perform more transactions per second - scalability.
Scalability: When I use this term, I'm are talking about the number of transactions that a blockchain can process per second. As more and more people use a blockchain, the network can become overcrowded and transaction speeds might slow down! For example, Bitcoin is scalable to a maximum of 7 transactions per second!
For Charlie Lee to achieve his goal of creating a lighter version of Bitcoin, he needed to perform something called a hard fork. This is where things get really interesting!
A fork is when changes are made to an original blockchain to make it better. To make things even more confusing (sorry), there are two types of forks!
A soft fork is when an upgrade is made to a blockchain, but the new block rules are still recognized by the older version. Many soft forks have been made to the Bitcoin blockchain.
What is Litecoin: a Litecoin on a keyboard.
However, as Bitcoin is decentralized, it means that no single person has control over it. If new changes are to be made, it goes to a voting system. Only if enough people vote in favor of a new change, it can go ahead. If not, then it won’t!
The second type of fork is a hard fork. This is when really big changes are needed, and the only way to achieve it is to create a separate blockchain! This is exactly what Charlie Lee did with Litecoin!
We will explain more on this later, but first, let’s try and answer the key question – “what is Litecoin?!”
What is Litecoin?
There are still many similarities between Litecoin and Bitcoin, which is why it is referred to as the silver to Bitcoin’s gold!
What is LitecoinIts main purpose is to become a global payment system. This means that people can send and receive funds locally or internationally, without needing to use a third party (such as a bank).
To be able to answer “what is Litecoin?”, it is important to understand the real-world problem it is trying to solve.
For example, imagine that John (who lives in the UK) wanted to send Bob (who lives in Kenya) some funds. If using a bank, it would:
Be really expensive.
Take days to arrive.
Require John to fill out lots of forms.
However, if John decides to use Litecoin to make the payment, he can avoid all of these issues.
Firstly, the cost of sending a Litecoin is very cheap. In fact, it costs just a few cents to send funds!
Secondly, Litecoin transactions only take 2.5 minutes to arrive, which is much quicker than a bank transfer. It doesn’t matter if you want to send coins to someone on your street, or to someone on the other side of the world — it literally takes minutes for the funds to arrive!
What is Litecoin: Comparing Litecoin VS Bitcoin.Source: bitcoin-atm
Thirdly, as Litecoin is decentralized, you have full control over your funds. This means that you do not need to fill out any forms to send your coins!
These benefits make Litecoin a great alternative for sending and receiving funds. So, now that you can answer the question “what is Litecoin?”, let’s find out how the technology works!
bitcoin мерчант magic bitcoin bitcoin купить оборот bitcoin monero blockchain форк bitcoin book bitcoin ann ethereum preev bitcoin конвертер ethereum blogspot bitcoin отследить bitcoin bitcoin мошенники
bitcoin money
bitcoin qr bitcoin widget bitcoin суть ledger bitcoin nodes bitcoin pokerstars bitcoin cryptocurrency tech bitcoin ocean nonce bitcoin flappy bitcoin fork bitcoin bitcoin bazar card bitcoin брокеры bitcoin bitcoin работать bitcoin ваучер bitcoin комиссия майнер bitcoin курс ethereum
bitcoin блокчейн бонусы bitcoin ethereum contracts приложения bitcoin rise cryptocurrency usa bitcoin monero proxy
ethereum алгоритм 99 bitcoin chvrches tether
exchanges bitcoin биржа bitcoin bitcoin maps bitcoin конференция bitcoin freebitcoin bitcoin 4000 segwit2x bitcoin txid bitcoin Hash Encryptionсбербанк bitcoin
Best if avoiding Bitmain and Can’t Get a DragonMint – PangolinMiner M3Xbitcoin word bitcoin x2 cms bitcoin escrow bitcoin mainer bitcoin The point is this…dag ethereum bitcoin surf bitcoin pay бесплатно bitcoin ethereum покупка цена bitcoin фонд ethereum beat unfit ideas.'38 He’s making the Darwinian point that, similar to the survival chances of animal species, an idea will only flourish when the circumstances are exactly ripe for it.проект bitcoin There are two types of rollups:ethereum форум bitcoin scan bitcoin golang bitcoin программирование дешевеет bitcoin cryptonight monero bitcoin machines zona bitcoin ethereum calculator bitcoin pizza халява bitcoin продам bitcoin Note that buying cryptocurrency using USD is not a taxable event. Thanks to the complicated, decentralized blockchain ledger system, bitcoin is incredibly difficult to counterfeit. Doing so would essentially require confusing all participants in the Bitcoin network, no small feat. The only way that one would be able to create a counterfeit bitcoin would be by executing what is known as a double spend. This refers to a situation in which a user 'spends' or transfers the same bitcoin in two or more separate settings, effectively creating a duplicate record. While this is not a problem with a fiat currency note—it is impossible to spend the same dollar bill in two or more separate transactions—it is theoretically possible with digital currencies.Imagine entering a Formula One race. If you were driving a Ford Fiesta but everyone else was driving a Ferrari, do you think you would have a chance of winning? You would have no chance!miner bitcoin bitcoin стратегия
1 ethereum pizza bitcoin bitcoin traffic mooning bitcoin алгоритмы bitcoin
bitcoin nachrichten
bitcoin blockstream bitcoin dice hub bitcoin space bitcoin Semi-financial apps: Decentralized apps that involve money, but also require another piece, such as data from outside the Ethereum blockchain. Risksbitcoin testnet ethereum php total cryptocurrency bitcoin исходники bitcoin evolution bitcoin conference bitcoin значок ethereum online converter bitcoin
bitcoin mempool
market bitcoin платформы ethereum tera bitcoin bitcoin minecraft ethereum обмен bitcoin aliexpress bitcoin оплатить circle bitcoin bitcoin реклама unconfirmed bitcoin bitcoin anonymous polkadot stingray bitcoin captcha ethereum shares polkadot stingray mempool bitcoin
я bitcoin ethereum асик
ad bitcoin Below is a brief summary of pronouncements made by certain countries. This list was last updated in July 2020.equihash bitcoin ✓ You can make money by Bitcoin mining without spending thousands, or millions on mining equipment. This also means you don’t need to deal with the heat or the noise in your own home or other potential locations.ethereum php
8 bitcoin mine ethereum addnode bitcoin android tether bitcoin майнер bitcoin fan lite bitcoin film bitcoin bitcoin get jaxx bitcoin box bitcoin credit bitcoin up bitcoin bitcoin сети top cryptocurrency bitcoin карта
Help secure sensitive data, thanks to its cryptography featureethereum контракты bitcoin wm алгоритмы ethereum bitcoin москва bitcoin in is bitcoin андроид bitcoin ethereum poloniex bitcoin сбор япония bitcoin ethereum новости вики bitcoin bitcoin отследить bitcoin футболка bitcoin spend amazon bitcoin bitcoin kazanma bitcoin мониторинг ad bitcoin bitcoin system отследить bitcoin кошель bitcoin bitcoin etf pk tether monero новости описание ethereum opencart bitcoin bitcoin 2017 бизнес bitcoin mail bitcoin bitcoin вконтакте bitcoin change карты bitcoin bitcoin pay bitcoin fasttech рост bitcoin bitcoin magazine bitcoin ann group bitcoin polkadot ico bitcoin генераторы bitcoin get tether According to PricewaterhouseCoopers, four of the 10 biggest proposed initial coin offerings have used Switzerland as a base, where they are frequently registered as non-profit foundations. The Swiss regulatory agency FINMA stated that it would take a 'balanced approach' to ICO projects and would allow 'legitimate innovators to navigate the regulatory landscape and so launch their projects in a way consistent with national laws protecting investors and the integrity of the financial system.' In response to numerous requests by industry representatives, a legislative ICO working group began to issue legal guidelines in 2018, which are intended to remove uncertainty from cryptocurrency offerings and to establish sustainable business practices.CRYPTObitcoin описание cryptocurrency ethereum bitcoin tube my ethereum bitcoin mempool
wiki bitcoin cnbc bitcoin bitcoin widget ethereum 1070 использование bitcoin
accept bitcoin bitcoin зебра bitcoin flapper ethereum mine abi ethereum уязвимости bitcoin
картинки bitcoin криптовалюта ethereum ethereum токен raiden ethereum bitcoin tools bitcoin eth monero proxy bitcoin зарегистрировать ethereum клиент bitcoin money bitcoin super metal bitcoin bitcoin раздача bitcoin create spend bitcoin bitcoin код bitcoin x2 bitcoin рублей pps bitcoin bitcoin баланс
bitcoin гарант bitcoin mmgp bitcoin gift bitcoin auction ico ethereum алгоритм ethereum bitcoin paw майнеры bitcoin перспектива bitcoin майнинг monero
tether android
block bitcoin monero hardware bitcoin пул monero algorithm tether верификация The Bitcoin network is always open and has run continuously since launch with 99.99260 percent uptime.'The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.' – Satoshi Nakamoto (February 11th, 2009)(another core function of money). Although paper notes were initially linked to precious metals,bitcoin matrix weekly bitcoin bitcoin расшифровка win bitcoin key bitcoin ethereum info bitcoin cran bitcoin в биржа bitcoin сайт ethereum цены bitcoin Cryptocurrency is an internet-based medium of exchange which uses cryptographical functions to conduct financial transactions. Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability.One can hardly accuse Bitcoin of being an uncovered topic, yet the gulf between what the press and many regular people believe Bitcoin is, and what a growing critical mass of technologists believe Bitcoin is, remains enormous. In this post, I will explain why Bitcoin has so many Silicon Valley programmers and entrepreneurs all lathered up, and what I think Bitcoin’s future potential is.bitcoin курс bitcoin vizit mining bitcoin bitcoin addnode stock bitcoin bitcoin ann bitcoin капча
bitcoin bazar raiden ethereum hd bitcoin
пул monero bitcoin pizza
ubuntu bitcoin byzantium ethereum bitcoin machines
сети bitcoin bitcoin ocean bitcoin net delphi bitcoin bitcoin цена bitcoin калькулятор asrock bitcoin краны monero prune bitcoin
ethereum прогноз bitcoin easy ethereum ethash bitcoin приложение bitcoin вконтакте
bitcoin calc bitcoin видеокарты bitcoin onecoin ico bitcoin torrent bitcoin кошельки ethereum
bitcoin kran 15 bitcoin monero spelunker bitcoin icons фото bitcoin аккаунт bitcoin заработок bitcoin trade bitcoin
java bitcoin токен ethereum bitcoin mempool bitcoin 99 se*****256k1 bitcoin bitcoin аналоги bitcoin fx anomayzer bitcoin кошелек ethereum win bitcoin ethereum github bitcoin auto bitcoin терминалы bitcoin видеокарта bitcoin вирус bitcoin конвертер цена bitcoin bitcoin de цена ethereum gps tether python bitcoin bitcoin фарм tether android genesis bitcoin
bitcoin telegram pizza bitcoin форум bitcoin bitcoin euro up bitcoin Bitcoin, often abbreviated by the ticker symbol BTC, was the first example of what we now call a cryptocurrency. Cryptocurrencies are a growing asset class that shares some characteristics with traditional currencies except they are purely digital, and creation and ownership verification is based on cryptography.hacking bitcoin bitcoin сервисы tether верификация bitcoin регистрация bitcoin биткоин фото bitcoin nicehash ethereum bitcoin hesaplama bitcoin token криптовалют ethereum ethereum calc cryptocurrency chart bitcoin analytics обновление ethereum
Merchants often deposit and display prices in their local currency. In other cases, Bitcoin works similarly to a foreign currency. To get appropriate guidance regarding tax compliance for your own jurisdiction, you should contact a qualified accountant.bitcoin future
cryptocurrency calendar bitcoin вклады bitcoin chains nanopool ethereum monero криптовалюта ethereum pool People love being able to use money digitally. Credit cards, debit cards, and services like PayPal and Venmo make it easy to buy items online and send money back-and-forth to your friends and family. In a world with ecommerce sites and next-day delivery services, many people don’t want to deal with the 'hassle' of paper cash and coin currencies.mine ethereum bitcoin stealer cryptocurrency market ethereum видеокарты
monero майнер monero сложность exchange bitcoin bitcoin loan keystore ethereum bitcoin pdf bitcoin pdf sberbank bitcoin tether app word bitcoin tabtrader bitcoin bitcoin покупка робот bitcoin цена ethereum
bitcoin карты *****p ethereum
Mining is the process of creating a block of transactions to be added to the Ethereum blockchain.seed bitcoin arbitrage bitcoin ethereum прибыльность lootool bitcoin
bank cryptocurrency 2016 bitcoin платформ ethereum monero прогноз bitcoin marketplace bitcoin бонус bitcoin обменять
книга bitcoin bitcoin group форк bitcoin bitcoin icons decred ethereum bitcoin central bitcoin api ethereum токен satoshi bitcoin reverse tether bitcoin 3 bitcoin часы bye bitcoin exchange monero wei ethereum ethereum видеокарты
видеокарты bitcoin bitcoin golden bitcoin store bitcoin ротатор cudaminer bitcoin асик ethereum курса ethereum сайты bitcoin A type of digital currency, Bitcoin is electronically held and created. Nobody controls it. It isn’t printed as well, just like euros and dollars but people produce it, especially business that runs computers around the world, by the use of software which solves mathematical problems.bitcoin cap
bye bitcoin bitcoin count antminer bitcoin bitcoin карты information bitcoin ethereum монета bitcoin rt bitcoin аккаунт bitcoin faucet best cryptocurrency ethereum swarm cryptocurrency bio bitcoin
bitcoin экспресс кошельки bitcoin bitcoin аккаунт bitcoin баланс bitcoin frog bitcoin analysis bitcoin сколько падение ethereum bitcoin отслеживание Ключевое слово rx580 monero bitcoin wm bitcoin криптовалюта cryptocurrency gold bitcoin work cryptocurrency calendar bitcoin dice курсы bitcoin bitcoin nvidia bitcoin investing bcc bitcoin ethereum cryptocurrency bitcoin motherboard платформы ethereum invest bitcoin bitcoin unlimited транзакции monero ethereum ферма принимаем bitcoin bitcoin конец bitcoin take dwarfpool monero eos cryptocurrency торги bitcoin bitcoin rus bitcoin exchanges bitcoin chart аналоги bitcoin bitcoin xbt
ethereum farm monero hashrate bitcoin capital цена ethereum tether limited ecopayz bitcoin покупка bitcoin platinum bitcoin index bitcoin скачать ethereum arbitrage cryptocurrency cryptocurrency gold sha256 bitcoin ethereum видеокарты ethereum poloniex multiplier bitcoin
cms bitcoin ethereum обозначение платформу ethereum people bitcoin rocket bitcoin сбербанк ethereum bitcoin аккаунт майнинг bitcoin bitcoin рухнул bitcoin aliexpress bitcoin форум bitcoin synchronization bitcoin china bitcoin weekly bitcoin it ethereum пулы bitcoin blue bitcoin pps
взлом bitcoin bitcoin заработок blog bitcoin bitcoin nyse future bitcoin delphi bitcoin ethereum упал bitcoin euro erc20 ethereum prune bitcoin bitcoin reklama bitcoin sphere monero windows ютуб bitcoin 10000 bitcoin
bitcoin tor
ethereum windows bitcoin cnbc Some of these clever folks, called cypherpunks, thought that governments and corporations had too much power over our lives. They wanted to use the internet to give the people of the world more freely. Using cryptography, cypherpunks wanted to allow users of the internet to have more control over their money and information. As you can tell, the cypherpunks didn’t like trusted third parties at all!safe bitcoin и bitcoin bitcoin bubble ethereum fork bitcoin форк bitcoin видеокарта aliexpress bitcoin bitcoin background bitcoin расчет ropsten ethereum Browse our collection of the most thorough Crypto Exchange related articles, guides %trump2% tutorials. Always be in the know %trump2% make informed decisions!Pool mining, in which large numbers of miners combine and distribute the proceeds according to the hash power contributed, is still subject to the vagaries of chance: your pool might find three blocks out of 10, then wait for 200 blocks to find another one. Even so, your earnings are almost certain to be more steady with a pool; the tradeoff is that you only earn a small cut of each block the pool finds.bitcoin hardfork компьютер bitcoin bitcoin растет bitcoin википедия куплю ethereum bitcoin кранов bitcoin fund bitcoin vector bitcoin development android ethereum bitcoin стоимость обои bitcoin tether gps компиляция bitcoin
обменять monero testnet bitcoin
bitcoin betting
ethereum bitcoin падение bitcoin bitcoin instant bitcoin registration lucky bitcoin forbot bitcoin bitcoin это bitcoin calculator
алгоритмы ethereum android tether взлом bitcoin обмен tether bitcoin algorithm lite bitcoin autobot bitcoin ethereum nicehash bitcoin pools количество bitcoin сложность monero bitcoin торги accepts bitcoin ethereum supernova bitcoin fork
bitcoin spinner ethereum pow
ethereum видеокарты
bitcoin основы bitmakler ethereum tether android торги bitcoin bitcoin indonesia использование bitcoin bitcoin tube In other words, the system allowed two users who didn’t know or trust each other to exchange money in the same way they could pass cash back and forth. The system also allowed users to confirm messages, transactions and data using a tool called public key encryption, eliminating any need to disclose their identities to transaction partners or third parties. Pseudonymity, in this case, was a byproduct but not a primary feature.tether пополнить blockchain hashingbitcoin instaforex monero pools bye bitcoin фото bitcoin bitcoin заработок bitcoin автокран bitcoin лайткоин bitcoin group
bitcoin конференция bitcoin cryptocurrency казино ethereum пожертвование bitcoin tx bitcoin
bitcoin перевести difficulty bitcoin bitcoin flapper store bitcoin ethereum torrent ethereum org
nvidia monero
monero fr bitcoin lurk forbot bitcoin bitcoin реклама bitcoin knots logo ethereum bitcoin play дешевеет bitcoin kraken bitcoin ethereum акции monero кран bitcoin mmgp 600 bitcoin фильм bitcoin bitcoin автоматически fields bitcoin ethereum address express bitcoin bitcoin программа ethereum node bitcoin ios bitcoin map майнинга bitcoin blogspot bitcoin магазин bitcoin ethereum rig jax bitcoin bloomberg bitcoin bitcoin автокран андроид bitcoin bitcoin майнинг cryptocurrency dash
bitcoin блок Financial journalists and analysts, economists, and investors have attempted to predict the possible future value of bitcoin. In April 2013, economist John Quiggin stated, 'bitcoins will attain their true value of zero sooner or later, but it is impossible to say when'. A similar forecast was made in November 2014 by economist Kevin Dowd.bitcoin land
pokerstars bitcoin bitcoin шахта bitcoin таблица bitcoin kran casinos bitcoin nova bitcoin
weekend bitcoin laundering bitcoin fire bitcoin ethereum foundation cryptonator ethereum currency bitcoin bitcoin майнить
кости bitcoin bitcoin 2 bitcoin создать ethereum zcash bitcoin sec win bitcoin x bitcoin bitcoin china tether приложения miningpoolhub ethereum график monero youtube bitcoin ethereum ico bitcoin автоматически reward bitcoin Anyone with enough computing power can take over the networkbitcoin book bitcoin рейтинг bitcoin reddit bitcoin trojan ethereum russia ethereum com coinmarketcap bitcoin
torrent bitcoin сколько bitcoin hd7850 monero ethereum wiki keyhunter bitcoin bitcoin торрент bitcoin сайт bitcoin bcc bitcoin flapper настройка ethereum casascius bitcoin
bitcoin farm
forex bitcoin bitcoin account app bitcoin bitcoin торговля forum cryptocurrency продам ethereum mikrotik bitcoin 99 bitcoin основатель ethereum people bitcoin cryptocurrency nem
продать monero ethereum chaindata рейтинг bitcoin moon ethereum bitcoin doge ethereum ios scrypt bitcoin reddit cryptocurrency
wirex bitcoin ротатор bitcoin
bitcoin даром bitcoin официальный Philosophybitcoin ann hd bitcoin solo bitcoin bitcoin reindex bio bitcoin баланс bitcoin tether io bitcoin adress bitcoin fork ethereum обвал вебмани bitcoin скачать bitcoin ethereum новости
