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 – CryptoSlate Cryptocurrency News and Real-time Coin Data
Cornerstone Global Management adds Litecoin to...
by Ali Martinez on Ottobre 22, 2019 at 16:57
Cornerstone Global Management announced a partnership with the Litecoin Foundation to integrate Litecoin into its crypto pay and pension plan program, CP3. In a blog post, the payment solution startup revealed that it will be using Loafwallet as the preferred Litecoin wallet for users to store […]
Bitcoin, Ethereum and Litecoin sink as buying...
by Ali Martinez on Ottobre 16, 2019 at 20:08
A number of technical indicators estimated that the entire market was susceptible to a downturn. Now that the bearish outlook seems to be validated, here is where Bitcoin, Ethereum, and Litecoin could be heading next. Bitcoin Over the last three weeks, Bitcoin has been consolidating between $7,800 […]
Ethereum, XRP, and Litecoin prices show...
by Ali Martinez on Settembre 23, 2019 at 19:51
Bakkt’s long-awaited Bitcoin futures contracts launch did not elicit the market reaction most traders were hoping for. Instead, Bitcoin continues consolidating without a clear sign of where it’s heading next while altcoins are giving mixed signals. The following technical analysis will […]
Ethereum, XRP, and Litecoin stage major...
by Ali Martinez on Settembre 20, 2019 at 0:40
Altcoins such as Ethereum, XRP, and Litecoin are finally showing significant moves, regaining some of the market dominance they lost to Bitcoin year-to-date. If the trend continues it could mark the beginning of a new “altseason.” Market Dominance Bitcoin’s market share began […]
Litecoin will have succeeded when it doesn’t...
by Mitchell Moos on Settembre 18, 2019 at 22:58
In the end, Charlie Lee says Litecoin will have succeeded when it doesn’t need him anymore. Here’s what this means for the Litecoin Foundation. Litecoin’s origin story In an exclusive interview with CryptoSlate, Charlie Lee shared the origin story behind Litecoin. […]