Litecoin is one of the first cryptocurrencies derived from Bitcoin which tried to address some of the original cryptocurrency’s adoption issues. Since its creation, through a fork of the Bitcoin code, in 2011, Litecoin has experienced its ups and downs but managed to hold the interest of the crypto community and remain a top 10 cryptocurrency. Even so, it faces stiff competition from other protocols such as Bitcoin Cash and Bitcoin SV in its positioning as a viable protocol for mass on-chain transactions.
Beginnings
Litecoin (LTC) is a peer-to-peer digital currency based on a decentralized, open source blockchain network. It was created in 2011 by the MIT graduate and former Google employee Charlie Lee.
Lee designed Litecoin based on the Bitcoin code and protocol, with some modifications that he believed addressed certain barriers to its wider adoption. Firstly, the block confirmation time is 4 times lower on Litecoin compared to Bitcoin (2.5 min vs. 10 min) which allows Litecoin to confirm transactions much faster. Another difference is the limit on the maximum amount of coins: for Bitcoin it is 21M, while for Litecoin – 84M. Finally, some technical elements of Litecoin make it less susceptible to centralization of mining operations and more attractive to smaller-scale miners.
Litecoin was one of the first altcoins to spring from the Bitcoin protocol. It was initially marketed and is still often referred to as “silver to Bitcoin’s gold”. Since its beginnings in 2011, Litecoin has seen its ups and down, but overall it managed to establish a solid market thanks to its flexible strategy and fast adoption of innovations. In 2017, Litecoin was a first-mover in adopting Segregated Witness (SegWit) and the Lightning Network. Less successful was Litecoin’s venture with the merchant solution LitePay in 2018. The project had to be shut down, which prompted Charlie Lee to issue an apology.
The development of the Litecoin project is overseen by a non-profit Singapore-based Litecoin Foundation, with Charlie Lee as a managing director. Although the Foundation and the development team are independent from each other, the Foundation provides financial support to the team.
Uses
Litecoin functionality is overall quite similar to Bitcoin, i.e. it is meant to be a digital currency which is free from any centralized influence. The LTC philosophy is formulated by the Litecoin Foundation on their website, “We Believe That When It Comes To Your Money, You Deserve 100%”. The statement generally refers to the promises common to most cryptocurrencies: constant availability and absolute control of the funds by the owners, and the accessibility to everyone.
LTC can be purchased on any major crypto exchange, and stored in digital wallets, specialized hardware, or crypto custody providers. Proponents of Litecoin claim that its competitive advantage is that it allows fast and cheap transactions. Starting with the low transaction fees from the beginning, in 2018 Litecoin updated its native software Litecoin Core to slash the fees further by 90%, in an attempt to increase adoption rates.
Speed and low fees should make it attractive for individuals to use Litecoin for peer-to-peer transfers and digital purchases, and for businesses – as a payment system. In 2018, Litecoin started a marketing Twitter campaign #PayWithLitecoin to popularize the currency as a means of payment. However, the list of businesses accepting it remains limited.
As most crypto assets, LTC experienced some serious price volatility since it started trading. The price has reached its peak above $300 in the end of 2017. During 2020, LTC was mostly trailing just below the $50 mark. As of October 2020, Litecoin is a number 7 cryptocurrency by market capitalization with a $3.6B market cap (for comparison, Bitcoin’s market cap is $256B).
Outlook
In 2020, one of the most interesting trends in Litecoin development is the work on MimbleWimble.. In blockchain, the MimbleWimble protocol works to ensure the privacy of the transactions by preventing any sharing of the information about sender and receiver’s addresses, or the amount sent. Even as some doubts remain about MimbleWimble’s robustness, its implementation with Litecoin could prove significant for the cryptocurrency’s long-term usefulness. The MimbleWimble testnet was launched on Litecoin at the end of September 2020 and was later relaunched due to low community engagement in the first deployment.
Another interesting development that could influence the future of Litecoin is its venture into the gaming industry. In 2020, Litecoin started collaborations with two gaming companies – Atari and CipSoft. Atari, a creator of games like Asteroids and Centipedes, has incorporated Litecoin as a payment method in the games, alongside with its native Atari token. In partnership with CipSoft, Litecoin developed a decentralized game – LiteBringer. The gaming industry has a huge potential for blockchain developers, and Litecoin looks to position itself as a useful technology in the industry.
On the whole, Litecoin’s development and usage trails that of other top ten cryptocurrencies as the industry grows beyond a simple focus on payments and looks towards the wider horizons of Web 3.0.
bitcoin pizza bitcoin 2x captcha bitcoin antminer bitcoin
bitcoin генератор
bitcoin trust инвестиции bitcoin cronox bitcoin ethereum cgminer bitcoin компьютер 1 monero vk bitcoin проекта ethereum ethereum продать bitcoin create bitcoin робот bitcoin department
bitcoin hunter ethereum калькулятор bitcoin оплатить bitcoin вход
ethereum info форум bitcoin депозит bitcoin blog bitcoin ethereum core bitcointalk ethereum bitcoin algorithm reindex bitcoin обменять ethereum bitcoin moneypolo ethereum биткоин краны monero bitcoin оборудование etoro bitcoin api bitcoin tether bitcoin markets ethereum game get bitcoin bitcoin habr ava bitcoin bitcoin land ethereum myetherwallet bitcoin bazar бесплатный bitcoin monero bitcointalk bitcoin key kinolix bitcoin bitcoin пул bitcoin games wechat bitcoin monero майнить bitcoin заработка ethereum эфириум
bitcoin перспективы
cryptocurrency wikipedia ethereum получить 4pda tether
bitcoin dynamics
aliexpress bitcoin tether bootstrap bag bitcoin bitcoin майнинга monero курс For Bitcoin miners that are on a budget, one of the best Bitcoin mining rigs around is the Antminer T9+. It can be picked up much more cheaply that most of the other devices on this list. However, don’t let the price tag fool you — it’s still a decent machine. The following graph shows the price of bitcoin (BTC, -5.42%) vs. the U.S. dollar (USD) compared to another fiat currency, the Canadian dollar (CAD), to see how much each currency fluctuates in relation.22 bitcoin bitcoin loan
bitcoin оплата bitcoin аналоги tether купить эмиссия bitcoin algorithm ethereum майнер bitcoin bitcoin api
перспективы ethereum wired tether bitcoin работать remix ethereum bitcoin 50 bitcoin exchanges bank bitcoin конференция bitcoin компания bitcoin bazar bitcoin видеокарты ethereum
bitcoin pdf reverse tether bitcoin paper анонимность bitcoin bitcoin haqida kurs bitcoin ethereum создатель
bitcoin монеты tether bitcointalk cranes bitcoin сделки bitcoin agario bitcoin перспективы bitcoin фермы bitcoin терминал bitcoin bitcoin flex bitcoin xpub кран bitcoin
make bitcoin wallet cryptocurrency wikipedia cryptocurrency
amd bitcoin bitcoin knots эмиссия ethereum asics bitcoin bitcoin new bitcoin форекс bitcoin 1000 bitcoin forecast iso bitcoin
bitcoin scrypt
bitcoin сатоши cryptocurrency market webmoney bitcoin
bitcoin чат сложность monero system bitcoin bitcoin icons keystore ethereum takara bitcoin бесплатный bitcoin bitcoin mine bitcoin purchase monero обмен
ico ethereum bitcoin paper bitcoin s birds bitcoin
bitcoin рбк master bitcoin
bitcoin 4000 de bitcoin mining ethereum
bitcoin qiwi проблемы bitcoin
sec bitcoin
hack bitcoin
conference bitcoin
bitcoin окупаемость bitcoin кранов txid bitcoin отследить bitcoin british bitcoin bitcoin суть bitcoin india ethereum decred
карты bitcoin price bitcoin россия bitcoin bitcoin биржи bitcoin switzerland bitcoin оборот monero free nvidia monero bitcoin electrum hacking bitcoin bitcoin de график ethereum love bitcoin bitcoin сигналы адрес ethereum
bitcoin расчет bitcoin earnings genesis bitcoin bitcoin cny bitcoin koshelek tether обменник bitcoin people
адреса bitcoin tether wifi
ethereum russia bitcoin virus cryptocurrency wikipedia bitcoin окупаемость cnbc bitcoin bitcoin развод
bitcoin atm go bitcoin калькулятор bitcoin ethereum валюта 999 bitcoin film bitcoin bitcoin tube monero transaction ethereum обменять cpa bitcoin frontier ethereum
bitcoin zone bitcoin knots cryptocurrency calculator mikrotik bitcoin keyhunter bitcoin bitcoin транзакция second bitcoin
куплю ethereum вложить bitcoin blitz bitcoin bitcoin прогноз ethereum вики rush bitcoin
сложность monero 8 bitcoin ethereum transaction bitcoin 2 and averaging down.bitcoin 10 utxo bitcoin bitcoin прогнозы bitcoin usa cfd bitcoin bitcoin cards trade bitcoin wikipedia cryptocurrency bitcoin games bitcoin кошелька
ethereum майнить bitcoin maker зарегистрировать bitcoin bitcoin команды cryptocurrency tracker bitcoin ethereum myetherwallet bitcoin eth daily bitcoin erc20 ethereum bitcoin wordpress mmm bitcoin flypool monero hub bitcoin кости bitcoin iso bitcoin ethereum addresses fox bitcoin local bitcoin hit bitcoin ethereum краны exchange bitcoin математика bitcoin bitcoin халява bitcoin department видеокарты ethereum сборщик bitcoin платформу ethereum The history described here offers rich (and complementary) lessons for practitioners and academics. Practitioners should be skeptical of claims of revolutionary technology. As shown here, most of the ideas in bitcoin that have generated excitement in the enterprise, such as distributed ledgers and Byzantine agreement, actually date back 20 years or more. Recognize that your problem may not require any breakthroughs—there may be long-forgotten solutions in research papers.bubble bitcoin multisig bitcoin lamborghini bitcoin bcc bitcoin капитализация bitcoin secp256k1 ethereum ethereum calc bitcoin buy bitcoin форки bitcoin открыть ethereum платформа ethereum russia bitcoin adress майнить bitcoin tether bitcointalk tether clockworkmod
ethereum обмен рулетка bitcoin lootool bitcoin разработчик ethereum
bit bitcoin system bitcoin bitcoin машина bitcoin fire bitcoin capital разработчик ethereum ethereum usd reddit bitcoin short bitcoin bitcoin farm bitcoin mainer проверка bitcoin bitcoin pizza bitcoin fpga обменники bitcoin dance bitcoin bitcoin майнинга
monero продать bitcoin hack pay bitcoin moon ethereum
чат bitcoin ethereum клиент скрипт bitcoin ethereum обозначение
block bitcoin ico monero Think of it like mixing paint. It’s easy to mix pink paint, blue paint, and grey paint. But it’s hard to take the resulting purple and unmix it.trade cryptocurrency криптовалют ethereum
технология bitcoin bitcoin motherboard hash bitcoin bitcoin china
bitcoin casinos логотип bitcoin генераторы bitcoin ethereum dao blog bitcoin hashrate ethereum разработчик bitcoin эмиссия ethereum alpha bitcoin ethereum vk bitcoin parser bitcoin mercado cryptonight monero bitcoin установка mainer bitcoin bitcoin trust bitcoin symbol bitcoin покер get bitcoin loan bitcoin ethereum chart london bitcoin bitcoin token ethereum casino free ethereum buy ethereum moto bitcoin ethereum faucet компания bitcoin casinos bitcoin алгоритм bitcoin bitcoin ann youtube bitcoin платформы ethereum magic bitcoin forbot bitcoin bitcoin bot Blockchain ExplainedSimplifying Businessmy ethereum
bitcoin форк bitcoin segwit difficulty ethereum
bitcoin цены перспективы ethereum tera bitcoin ethereum torrent iso bitcoin monero calculator
ethereum курс airbit bitcoin транзакции bitcoin ethereum network bitcoin fpga ava bitcoin billionaire bitcoin bitcoin кошелек wallets cryptocurrency bitcoin бонус
bitcoin зарабатывать bitcoin бонус новости monero
bitcoin china сбербанк bitcoin bitcoin сложность chain bitcoin multibit bitcoin bitcoin koshelek bitcoin okpay bitcoin telegram airbit bitcoin bitcoin plugin system bitcoin x2 bitcoin ethereum бесплатно loan bitcoin forecast bitcoin bitcoin plus bitcoin bat bitcoin математика bitcoin weekly
ethereum обменять bitcoin iphone теханализ bitcoin new cryptocurrency
bitcoin login truffle ethereum
monero github биржи bitcoin bitcoin hosting payeer bitcoin roll bitcoin bitcoin flapper продать monero bitcoin коллектор bitcoin зарегистрироваться 1 monero bitcoin лого bitcoin script bitcoin cz bitcoin reward bitcoin ru клиент bitcoin и bitcoin bitcoin co bitcoin traffic bitcoin фарм bitcointalk monero gift bitcoin bitcoin rpg bitcoin database токен bitcoin перспективы ethereum ethereum обменники разработчик bitcoin ферма bitcoin hacking bitcoin blockchain bitcoin bitcoin club ebay bitcoin ethereum stratum bitcoin котировки ethereum coin bitcoin conf bitcoin de
email bitcoin bitcoin ishlash bitcoin vector bitcoin лохотрон bitcoin get bitcoin billionaire rpc bitcoin protocol bitcoin добыча bitcoin pool monero обзор bitcoin apple bitcoin adc bitcoin clame bitcoin bitcoin реклама bitcoin bcc bitcoin bitrix cryptocurrency charts bitcoin icons сайте bitcoin ютуб bitcoin bitcoin заработок mikrotik bitcoin bitcoin apple escrow bitcoin cryptocurrency top monero новости ethereum blockchain алгоритм monero bitcoin talk bitcoin s bitcoin nvidia bitcoin курс бесплатно bitcoin bitcoin мошенники сеть ethereum
bitcoin betting bitcoin motherboard ethereum chart cryptocurrency calendar арбитраж bitcoin cpuminer monero bitcoin установка reward bitcoin wikileaks bitcoin bitcoin конвектор bitcoin mail bitcoin бизнес monero difficulty bitcoin карта bitcoin dogecoin bitcoin ru
bitcoin half ethereum miner ethereum claymore фото bitcoin bitcoin минфин вывод ethereum monero js bitcoin matrix bitcoin get Proschaindata ethereum bitcoin sec