We present a complete guide to understanding Litecoin (LTC) Crypto and it’s technology in the field of cryptocurrency development. We include helpful explanations, illustrated guides, historical data, and technical details. This article is brought to you by Digital Financial Market
Litecoin (LTC) Cryptocurrency
Litecoin is a Bitcoin-based Cryptocurrency that originates as a fork, or a variation, of the original Bitcoin blockchain. Similar to Bitcoin, it is a peer-to-peer digital currency that uses Proof-of-Work; Unlike Bitcoin, Litecoin has a different consensus protocol called Scrypt.
Intended to be the lightweight or “Lite” version of the once accelerating Bitcoin, the LTC supply maxes out at 84 Million LTC, as opposed to BTC’s max supply of 21 Million. With a faster blockchain transaction time, Litecoin was designed to offer faster transaction speed with a block time of under a few minutes.
See Litecoin (LTC) Official Website
Key Points of Litecoin
- One of the first successful alternatives to Bitcoin
- “Lite” version of Cryptocurrency
- Similar to Bitcoin, with faster block time
- Max supply of Litecoin is 84 Million LTC.
Litecoin (LTC) Price Chart
History of Litecoin
Litecoin was created in 2011 by former Google-employee and Software Engineer, Charlie Lee. The acclaimed founder later joined the Coinbase Executive Team in 2013 as the Director of Engineering.
In 2017, Lee left his position at Coinbase to pursue the Litecoin project full-time and still stands as the Director of the non-profit Litecoin foundation.
Litecoin (LTC) Crypto Pros
- One of the first successful alternatives to Bitcoin
- Benefits from Proof-of-work
- Adds blockchain solutions such as Lightning Network
- Reduced transaction time, better block speed
- “Lite” version of Bitcoin
Litecoin (LTC) Crypto Cons
- Proof-of-work is energy intensive
- Price closely follows Bitcoin and Crypto markets
- Doesn’t add substantially different qualities than Bitcoin
Litecoin FAQ
Litecoin
What Is The Difference Between Litecoin and Bitcoin?
How To Use Litecoin
How To Use LTC?
How Does LTC work?
How Does Litecoin work?
What is LTC?
What is Litecoin?
Litecoin Analysis
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