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.
bitcoin dark What’s wrong with current investment narratives
bitcoin win
окупаемость bitcoin bitcoin roulette добыча ethereum stealer bitcoin monero miner miningpoolhub monero tether wifi почему bitcoin bitcoin machine
bitcoin trader bitcoin cryptocurrency
your bitcoin bitcoin 50 криптовалюту bitcoin bitcoin github demo bitcoin monero address android tether neo cryptocurrency 99 bitcoin
bitcoin unlimited
bitcoin airbit bitcoin faucets
multiplier bitcoin reddit bitcoin форк bitcoin monero price bitcoin darkcoin bitcoin clouding порт bitcoin bitcoin индекс 1000 bitcoin
вход bitcoin кран ethereum bitcoin казино fire bitcoin bitcoin doubler
ethereum график bubble bitcoin bitcoin maining ethereum бесплатно bitcoin oil cryptonight monero tether apk blogspot bitcoin rus bitcoin clame bitcoin куплю ethereum bitcoin блок bitcoin исходники bitcoin x2 bitcoin транзакции bitcoin flapper bitcoin girls programming bitcoin bitcoin pizza bitcoin usd серфинг bitcoin swiss bitcoin puzzle bitcoin mine ethereum майнить bitcoin bitcoin автомат
bitcoin проблемы enterprise ethereum
bitcoin авито bitcoin blue ethereum dark bitcoin slots bitcoin banking grayscale bitcoin
ethereum рост bubble bitcoin
monero faucet cubits bitcoin ethereum game bitcoin exchange ethereum clix cryptocurrency charts bitcoin all обвал ethereum
bitcoin news блог bitcoin bitcoin plugin bitcoin алгоритмы bitcoin transaction магазин bitcoin
bitcoin перевод bitcoin coinmarketcap bitcoin paper faucet cryptocurrency bitcoin elena bitcoin purse bitcoin транзакции вклады bitcoin bitcoin valet
bitcoin word bitcoin green bitcoin allstars ethereum пул lightning bitcoin goldsday bitcoin stock bitcoin
настройка monero bitcoin faucet neo cryptocurrency
ethereum debian bitcoin maining
monero криптовалюта ethereum wallet yandex bitcoin rpg bitcoin 2048 bitcoin bitcoin автоматический bitcoin nodes ethereum обменять bitcoin boom bitcoin stealer bitcoin bitcointalk генератор bitcoin monero news краны monero bitcoin кошелька bitcoin добыть кости bitcoin bitcoin coin tether coin разработчик ethereum ethereum calc bitcoin dump верификация tether эпоха ethereum monero сложность lightning bitcoin
обналичить bitcoin bitcoin grant bitcoin мошенничество bitcoin kran
bitcoin 999 rotator bitcoin sberbank bitcoin bittrex bitcoin
bitcoin forums форк bitcoin криптовалюты bitcoin The fees got high because the popularity of Bitcoin was too much for the Bitcoin network to deal with — there were too many people using it. This is something the Bitcoin developers are trying to improve, and so far, it seems to be working. As I said earlier, the Bitcoin fees are back down to $1!tether скачать tether верификация tether usd bitcoin click
альпари bitcoin алгоритм monero bitcoin options hash bitcoin calculator ethereum linux bitcoin bitcoin purchase ethereum кошельки обсуждение bitcoin стоимость bitcoin ферма bitcoin monero hardware bitcoin capitalization purse bitcoin monero обмен accepts bitcoin bitcoin tools usb tether алгоритмы bitcoin вложить bitcoin chain bitcoin bitcoin сервисы будущее bitcoin bitcoin ocean greenaddress bitcoin bitcoin nedir bitcoin сделки jax bitcoin planet bitcoin bitcoin girls кошель bitcoin платформ ethereum
gift bitcoin bitcoin прогноз panda bitcoin сбербанк bitcoin hyip bitcoin bitcoin 10000 china bitcoin bitcoin покер
bitcoin зебра цены bitcoin ethereum падение bitcoin hacking alliance bitcoin bitcoin talk bitcoin explorer ethereum transaction банк bitcoin explorer ethereum добыча bitcoin bitcoin auction claim bitcoin bitcoin department usb tether bitcoin кошельки bitcoin pos difficulty monero reddit bitcoin bitcoin проблемы валюта monero кредит bitcoin lamborghini bitcoin ethereum прогнозы split bitcoin bitcoin пузырь bitcoin stellar bitcoin coingecko bitcoin weekly токен bitcoin ecopayz bitcoin monero usd bitcoin pattern bitcoin book bitcoin card проекта ethereum converter bitcoin rocket bitcoin china bitcoin bitcoin майнить collector bitcoin bitcoin отзывы bitcoin кошелек bitcoin россия bonus bitcoin master bitcoin bitcoin conf monero benchmark asrock bitcoin See also: Legality of bitcoin by country or territorytop bitcoin 100 bitcoin
epay bitcoin bitcoin rpg ethereum перевод
telegram bitcoin keyhunter bitcoin 999 bitcoin yandex bitcoin bitcoin подтверждение search bitcoin
zona bitcoin bitcoin сколько A distributed network in terms of ledger management and update responsibilities.bitcoin капитализация instaforex bitcoin lootool bitcoin bitcoin reklama доходность bitcoin bitcoin purse принимаем bitcoin bitcoin center credit bitcoin bitcoin партнерка
txid bitcoin payoneer bitcoin bitcoin ios q bitcoin часы bitcoin
вывод monero команды bitcoin взлом bitcoin ethereum programming bitcoin окупаемость converter bitcoin buying bitcoin bitcoin торги bitcointalk monero bitcoin frog micro bitcoin ethereum bitcoin bitcoin тинькофф siiz bitcoin
polkadot stingray ethereum обмен time bitcoin bitcoin double monero fr инструкция bitcoin bitcoin терминал bitcoin alpari s bitcoin
bitcoin пополнить bitcoin торговать cryptocurrency logo bitcoin прогноз ethereum транзакции работа bitcoin ethereum telegram ethereum видеокарты
sgminer monero facebook bitcoin monero gpu bitcoin download депозит bitcoin криптовалюты bitcoin
bitcoin reddit bitcoin payeer ethereum news android tether переводчик bitcoin minergate bitcoin blocks bitcoin 60 bitcoin
rise cryptocurrency cold bitcoin сервисы bitcoin
bitcoin multibit community bitcoin bitcoin youtube avatrade bitcoin индекс bitcoin iota cryptocurrency shot bitcoin bitcoin unlimited bitcoin прогноз ethereum прогнозы bitcoin комиссия video bitcoin bitcoin cost swarm ethereum
get bitcoin start bitcoin minergate monero masternode bitcoin alipay bitcoin coinder bitcoin компиляция bitcoin обменник ethereum ethereum виталий
bitcoin эмиссия bye bitcoin
bitcoin monkey bitcoin monkey ethereum проекты python bitcoin подтверждение bitcoin bitcoin china ethereum org bitcoin генератор
clicks bitcoin bitcoin russia bitcoin заработок bitcoin оборот mine bitcoin ethereum vk bitcoin india котировки bitcoin картинки bitcoin проверить bitcoin video bitcoin
which price volatility impacts an economy the most will grow the largestкупить bitcoin bitcoin чат bitcoin описание bitcoin moneybox bitcoin review 60 bitcoin clockworkmod tether автомат bitcoin vpn bitcoin block bitcoin sberbank bitcoin
monero hardware bitcoin funding bitcoin reindex Bitcoin, Blockchain’s prime application and the whole reason the technology was developed in the first place, has helped many people through financial services such as digital wallets. It has provided microloans and allowed micropayments to people in less than ideal economic circumstances, thereby introducing new life in the world economy.8Further readingbitcoin usb
терминалы bitcoin Thank you.If you have read about bitcoin in the press and have some familiarity with academic research in the field of cryptography, you might reasonably come away with the following impression: Several decades' worth of research on digital cash, beginning with David Chaum, did not lead to commercial success because it required a centralized, bank-like server controlling the system, and no banks wanted to sign on. Along came bitcoin, a radically different proposal for a decentralized cryptocurrency that did not need the banks, and digital cash finally succeeded. Its inventor, the mysterious Satoshi Nakamoto, was an academic outsider, and bitcoin bears no resemblance to earlier academic proposals.bitcoin тинькофф fx bitcoin bitcoin word 1024 bitcoin ethereum rig рост bitcoin bitcoin оборудование bitcoin proxy tether wallet ethereum продам bitcoin конец ethereum статистика тинькофф bitcoin платформа bitcoin fx bitcoin bitcoin биржи bitcoin hesaplama ethereum tokens connect bitcoin
создать bitcoin эфир bitcoin If there is any dispute, both parties can use the most recently signed balance sheet to recover their funds, and both users have the option to unilaterally close the channel, ending their relationship. When the payment channel is closed, the updated balance is verified on the blockchain and the user can use their remaining Bitcoin again on the standard network.A rough overview of the process to mine bitcoins involves:bitcoin usa ethereum логотип kaspersky bitcoin bitcoin plugin programming bitcoin system bitcoin bitcoin mainer bitcoin paper брокеры bitcoin bitcoin динамика bitcoin sell moneypolo bitcoin
bitcoin count
bitcoin 4pda форк ethereum bitcoin проект freeman bitcoin
accept bitcoin bitcoin review кран ethereum hashrate ethereum bitcoin оплата обналичить bitcoin xpub bitcoin bitcoin видеокарты bitcoin dark
bitcoin transaction ethereum swarm bitcoin bloomberg wei ethereum bitcoin casascius bitcoin брокеры bitcoin virus rise cryptocurrency ethereum заработок
bitcoin прогноз киа bitcoin bitcoin bitrix phoenix bitcoin bitcoin payoneer ethereum контракты bitcoin server goldmine bitcoin monero miner block ethereum Super securebitcoin scam blogspot bitcoin simple bitcoin pay bitcoin ebay bitcoin blue bitcoin price bitcoin bitcoin nvidia monero proxy collector bitcoin ethereum хешрейт cryptocurrency faucet bitcoin прогноз calculator ethereum bitcoin bitminer ethereum проблемы магазин bitcoin de bitcoin cryptocurrency law polkadot su ethereum заработок Hardware Wallet: A small device that is used to keep your private keys safe. Hardware wallets are for people who want to physically hold their bitcoins. Keep your hardware wallet wherever you want then connect the device to your computer when you need to spend some bitcoin. There is a small screen on the device to confirm your transaction details, then it sends the bitcoin payment without your private keys ever being on your computer. Hardware wallets cost about $100 which is cheap considering they allow you to safely store any amount of money and be your own bank. Hardware wallet example: KeepKey Trezor Ledger bitcoin кошелек bitcoin xl bitcoin click
p2pool ethereum bestchange bitcoin bitcoin описание
boom bitcoin
bitcoin анализ bitcoin mercado ethereum видеокарты bitcoin faucets ethereum бутерин bitcoin википедия bitcoin цена Decentralized- Without a central user or governing body. This creates transparency and uniformity across the network.secp256k1 ethereum bitcoin iso wikileaks bitcoin bitcoin source bitcoin уязвимости
fake bitcoin ethereum frontier dat bitcoin Right now, Bitcoin, Ethereum, and a few other systems have most of the market share. If cryptocurrencies take off in usage worldwide, and a small number of cryptocurrencies continue to make up most of the cryptocurrency market share, then it will likely be the case that the leading cryptocurrencies remain valuable, especially if you hold onto all coins when hard forks (currency splits) occur.For these reasons, it's understandable that Bitcoin traders and owners will want to take any possible security measures to protect their holdings. To do so, they utilize keys and wallets.How Bitcoin Mining Operatesторговать bitcoin приложение bitcoin widget bitcoin
эфир bitcoin bitcoin сервера
ethereum swarm bitcoin информация lamborghini bitcoin обмен tether bitcoin qt uk bitcoin bitcoin zebra payable ethereum wikipedia ethereum bitcoin nvidia forbot bitcoin bitcoin блог location bitcoin bitcoin video bitcoin trezor bitcoin dump ethereum studio bitcoin miner bitcoin kazanma bitcoin wordpress
bitcoin passphrase краны monero
p2pool monero bitcoin paypal
s bitcoin bitcoin today system bitcoin bitcoin now wallet tether кран bitcoin
ethereum claymore обменники bitcoin bitcoin автокран bitcoin динамика
bitcoin utopia
bitcoin fox миксер bitcoin bitcoin block 4000 bitcoin bitcoin рейтинг кошель bitcoin ultimate bitcoin bitcoin location bitcoin accepted
bitcoin links bitcoin armory faucet bitcoin
bitcoin masters ecopayz bitcoin xpub bitcoin порт bitcoin minergate ethereum ethereum android
ads bitcoin ethereum сайт
bitcoin акции
ethereum web3 ninjatrader bitcoin kaspersky bitcoin bitcoin развитие bitcoin обозначение bitcoin foto joker bitcoin bitcoin пул ethereum stats bitcoin laundering bitcoin proxy bitcoin форки time bitcoin bitcoin получить
titan bitcoin bitcoin gold
forbes bitcoin
fpga ethereum bitcoin капитализация foto bitcoin bitcoin эмиссия пул bitcoin bitcoin зарегистрировать шахты bitcoin новости bitcoin bitcoin переводчик bitcoin tools currency bitcoin bitcoin rotator bitcoin автокран bitcoin tracker
мастернода bitcoin bitcoin вложения alipay bitcoin bitcoin суть токен ethereum bitcoin исходники ethereum info лото bitcoin сбербанк bitcoin sec bitcoin раздача bitcoin ecdsa bitcoin monero minergate
bitcoin nedir bitcoin primedice bitcoin help wifi tether tp tether mikrotik bitcoin таблица bitcoin blogspot bitcoin 99 bitcoin lurkmore bitcoin bitcoin anonymous See also: Consensus (computer science) § Some consensus protocolsGrowth7. How do I protect myself?bitcoin code proxy bitcoin оплата bitcoin bitcoin ishlash
trinity bitcoin кредит bitcoin monero address spin bitcoin транзакции ethereum bitcoin xl
bitcoin bio bitcoin payeer monero cryptonote bitcoin пул сети bitcoin bitcoin получить
кошельки bitcoin bus bitcoin bitcoin бонус bitcoin phoenix
bux bitcoin time bitcoin bitcoin registration mini bitcoin майнинга bitcoin bitcoin metal tether android stealer bitcoin ethereum перевод monero cryptonote bitcoinwisdom ethereum ethereum рост ethereum котировки bitcoin автосерфинг cryptocurrency market unconfirmed monero stats ethereum bitcoin транзакция ethereum курс korbit bitcoin bitcoin фильм sell ethereum bitcoin golden tether ico что bitcoin
coinder bitcoin ethereum testnet bitcoin котировки bitcoin genesis ethereum charts bitcoin fields bitcoin auto bitcoin wiki demo bitcoin bitcoin script coin bitcoin bitcoin knots ethereum rub bitcoin double invest bitcoin ethereum сбербанк pro bitcoin
Ethereum vs Bitcoin: The Basicsantminer bitcoin frontier ethereum New transactions are broadcast to all nodes.сборщик bitcoin Bitcoin shares the monetary properties that caused gold to emerge as a monetary medium, but it also improves upon gold’s flaws. While gold is relatively scarce, bitcoin is finitely scarce and both are extremely durable. While gold is fungible, it is difficult to assay; bitcoin is fungible and easy to assay. Gold is difficult to transfer and highly centralized. Bitcoin is easy to transfer and highly decentralized. Essentially, bitcoin possesses all of the desirable traits of both physical gold and the digital dollar combined in one, but without the critical flaws of either. When evaluating monetary mediums, first principles are fundamental. Ignore the conclusion or end point, and start by asking yourself: if bitcoin were actually scarce and finite, ignoring that it is digital, could that be an effective measure of value and ultimately a store of value? Is scarcity a sufficiently powerful property that bitcoin could emerge as money, regardless of whether the form of that scarcity is digital?titan bitcoin бумажник bitcoin monero hashrate
bitcoin магазин bitcoin фарм
bitcoin ваучер bitcoin double уязвимости bitcoin q bitcoin
bitcoin capital bitcoin parser You will automatically get an ice cream cone tomorrow, as long as your friend has one and he received the $1 from you. The next day, the ice cream cone automatically appears in your hand as soon as the friend buys it. Even if he had no intention of giving it to you.matteo monero ecopayz bitcoin сложность monero qr bitcoin
ethereum контракты верификация tether конвертер bitcoin bitcoin get цена ethereum mempool bitcoin bitcoin игры
bitcoin сегодня golden bitcoin бесплатный bitcoin
bitcoin комментарии bitcoin service
goldsday bitcoin bitcoin core проблемы bitcoin
api bitcoin bitcoin окупаемость bitcoin virus bitcoin knots bitcoin take bitcoin 100 трейдинг bitcoin ethereum addresses bitcoin trader bitcoin лохотрон bitcoin fan gambling bitcoin
cms bitcoin ethereum contracts обменник bitcoin форки ethereum bitcoin рухнул monero faucet bitcoin bloomberg login bitcoin bitcoin elena secp256k1 ethereum bitcoin bow bitcoin книга lurkmore bitcoin mt4 bitcoin bitcoin play rx580 monero bitcoin биржи bitcoin настройка widget bitcoin zebra bitcoin ethereum pool mastering bitcoin ethereum продать magic bitcoin
live bitcoin playstation bitcoin Hash Rate- 600 H/sbitcoin scanner bitcoin c
bitcoin фото bitcoin spinner bitcoin tails майнер bitcoin котировки ethereum roll bitcoin bitcoin auto bitcoin microsoft programming bitcoin bitcoin casino capitalization bitcoin coinmarketcap bitcoin 