Cryptocurrency Market Capitalizations Litecoin
Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. While inspired by, and in most regards technically nearly identical to Bitcoin (BTC), Litecoin has some minor technical differences compared to Bitcoin and other major cryptocurrencies.
Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee. The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.
During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.
Litecoin reached a $1 billion market capitalization in November 2013. By late November 2017, its market capitalization was US$4,600,081,733 ($85.18 per coin).
In May 2017, Litecoin became the first of the top-5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zürich to San Francisco in under one second.
Litecoin is different in some ways from Bitcoin.
- The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes. The developers claim that this allows Litecoin to have faster transaction confirmation.
- Litecoin uses scrypt in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.
Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.
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Litecoin – CCN Markets Breaking Market News and Cryptocurrency Coverage
Miami Dolphins Score Litecoin to Spike Ballin’...
by Mike Brown on Luglio 12, 2019 at 10:36
Litecoin could help boost cryptocurrency to an even broader audience. On Friday, the foundation behind the world’s fourth-largest cryptocurrency announced a partnership with the Miami Dolphins. The deal makes Litecoin the official cryptocurrency of the American football team and enables […]
Litecoin Price Jumps 13 Percent as Breakout...
by Yashu Gola on Giugno 30, 2019 at 9:09
Litecoin price(LTC) was trading at $134.47 by 09:30 UTC on Sunday, up 13.03 percent on a 24-hour adjusted timeframe. The move uphill pushed Litecoin’s market capitalization to approx $8.18 billion, or 2.36 percent of the net cryptocurrency market valuation. At its top, Litecoin’s market […]
Newsflash: Crypto Market Plummets $58 Billion as...
by Greg Thomson on Giugno 27, 2019 at 10:56
The global cryptocurrency market lost $58 billion in a flash crash on Thursday morning as bitcoin makes a retreat. The combined value of the world’s cryptocurrencies dropped from $386 billion to $328 billion – a 14.9% loss overall. Just hours previously Bitcoin had been flirting with […]
Crypto Bull Ben Askren Readies Bitcoin $10,000 as...
by Gerelyn Terzo on Giugno 21, 2019 at 17:45
By CCN Markets: Crypto fever is spreading to the UFC Octagon. MMA fighter Ben Askren is anxiously awaiting the bitcoin price crossing $10,000. He joined the Crypto Twitter chorus, saying “10k here we come” alongside the image of a rocket ship. Askren is as bullish as they come, […]
Litecoin Price Gains Despite Facebook’s Libra...
by Yashu Gola on Giugno 19, 2019 at 11:37
By CCN Markets: Litecoin (LTC) entered a positive territory on Wednesday while other top cryptocurrencies trended flat as investors became cautious following the introduction of the Facebook token, Libra. The LTC-to-dollar exchange rate established an intraday high of $139.66, up more than 3 […]