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 обменник ads bitcoin bitcoin cnbc bitcoin ферма auction bitcoin bitcoin switzerland новости ethereum bitcoin сервисы bitcoin red bitcoin widget bitcoin nyse fpga ethereum 21 million coins isn't enough; doesn't scalebitcoin sweeper акции ethereum ethereum raiden займ bitcoin login bitcoin скрипты bitcoin wallet cryptocurrency bitcoin utopia bitcoin кредит cranes bitcoin coins bitcoin кран bitcoin обменник bitcoin биржи bitcoin attack bitcoin wikipedia cryptocurrency space bitcoin вики bitcoin bitcoin block tether coin
bitcoin работа
connect bitcoin ethereum логотип bitcoin traffic
ethereum логотип количество bitcoin ethereum bitcoin bitcoin exchanges bitcoin cap история ethereum
live bitcoin ethereum faucet wikileaks bitcoin bitcoin changer tether coin bcc bitcoin monero blockchain ethereum forks cryptocurrency chart обзор bitcoin bitcoin роботы bitcoin вектор bitcoin scam bitcoin форекс
эфириум ethereum bitcoin вектор комиссия bitcoin bitcoin sportsbook bitcoin trading takara bitcoin майн ethereum crococoin bitcoin bitcoin froggy etoro bitcoin monero xmr bitcoin example antminer ethereum bitcoin video ethereum регистрация space bitcoin
mine monero bitcoin аналитика bitcoin bcn криптовалюта ethereum биржа bitcoin CRYPTObitcoin hype bitcoin игры bitcoin трейдинг carding bitcoin bitcoin lottery
bitcoin покер покер bitcoin tether верификация
bitcoin debian up bitcoin coindesk bitcoin настройка monero kaspersky bitcoin bitcoin nvidia bitcoin nyse bitcoin проверить bitcoin 30
bitcoin all bitcoin страна казино ethereum bitcoin s 'Core developers' of a blockchain are software developers who work on the software that implement that protocol. Developers have processes that are supposed to assure the quality of the software they release, and are generally very interested in maintaining the legitimacy of their software repositories because they want to see people using their software (as opposed to someone else’s).ethereum логотип bitcoin mmgp конвертер ethereum asrock bitcoin daemon monero bitcoin описание
ethereum calc
bitcoin monkey bitcoin buy moneybox bitcoin abi ethereum bitcoin currency
moon bitcoin bitcoin capital bitcoin реклама
mac bitcoin
cryptocurrency logo курс tether bitcoin vpn daemon monero bitcoin видеокарты
bitcoin сбербанк bitcoin bitminer monero сложность cryptocurrency ico bitcoin zone bitcoin today пул monero оплатить bitcoin iphone bitcoin ethereum покупка wild bitcoin bitcoin разделился bitcoin virus ethereum coins майнинг bitcoin ethereum валюта ethereum токены бесплатный bitcoin bitcoin сети ethereum ферма bitcoin xt bitcoin doubler monero btc bitcoin knots bitcoin терминал bitcoin софт monero cryptonote bitcoin keywords nicehash monero amd bitcoin bitcoin java bitcoin count bitcoin trinity доходность ethereum multiplier bitcoin bitcoin book bitcoin word bitcoin symbol home bitcoin Decentralized: In the cryptocurrency world, there are no banks. Everyone is in charge of their own money, it isn’t kept in a bank. A bank is a center where lots of people keep their money. Cryptocurrencies are not managed by a central server, that’s why we say they are decentralized.bitcoin life вики bitcoin cryptocurrency market
кости bitcoin халява bitcoin monero майнить bitcoin xt bitcoin grant bitcoin portable polkadot store анализ bitcoin ethereum клиент ava bitcoin bitcoin cz bitcoin poker bitcoin bat ethereum контракты магазины bitcoin bux bitcoin bitcoin trust ethereum токен bitcoin продажа
ethereum перспективы bitcoin пулы segwit2x bitcoin bitcoin fake проверка bitcoin ethereum прибыльность bitcoin информация python bitcoin coffee bitcoin bitcoin config bitcoin hardfork bitcoin акции top bitcoin
миксер bitcoin исходники bitcoin bitcoin gambling bitcoin 2017 bitcoin changer bitcoin аккаунт
cryptocurrency
ethereum pos
bitcoin fpga ethereum курс
Simple, they’re applications running on the blockchain. Decentralized blockchain apps are harder to tamper with than traditional apps. It sounds complicated, yet it’s not.cryptocurrency wallet bitcoin миллионеры ethereum raiden Sounds complex? Well, it isn’t. In fact, it’s a very simple concept.котировки ethereum multiply bitcoin tether android captcha bitcoin bitcoin transaction ethereum картинки
datadir bitcoin
bitcoin adress tether limited Ключевое слово
ethereum токены обзор bitcoin wild bitcoin
bitcoin криптовалюта биржа ethereum bitcoin balance byzantium ethereum bitcoin machine bitcoin сети 777 bitcoin ethereum перспективы
bitcoin info bitcoin значок ethereum news
стоимость ethereum bitcoin key mine bitcoin bitcoin spinner bitcoin monkey ethereum котировки programming bitcoin
tether usb сложность monero книга bitcoin wikileaks bitcoin casinos bitcoin портал bitcoin bitcoin testnet github ethereum торги bitcoin bitcoin бизнес neo bitcoin micro bitcoin bitcoin scam bitcoin motherboard check bitcoin mixer bitcoin bitcoin investing In any case, core developers incur very few monetary costs. Because they are simply donating time, they need only worry about the opportunity cost of the contributions. In short, developers who simply contribute code may be less committed than miners at the outset, but as time goes on, may become increasingly enfranchised in the group dynamic and the technology itself. It’s not necessary for core developers to be friendly with miners, but they do need to remain cognizant of miners’ economics. If the network is not profitable to mine, or the software quality is poor, the network will not attract investment from miners. Without miners’ computational power, a network is weak and easy to attack.programming bitcoin bitcoin dance masternode bitcoin bitcoin терминалы bitcoin future java bitcoin bitcoin direct bitcoin forbes bitcoin упал вложения bitcoin bitcoin пополнить 0 bitcoin статистика ethereum bitcoin generation bitcoin fire обменники ethereum bitcoin xapo bitcoin вебмани metal bitcoin ethereum pools bitcoin books статистика ethereum wallet cryptocurrency bitcoin balance bitcoin account get bitcoin bitcoin paper порт bitcoin bitcoin что криптовалюта monero bitcoin main blitz bitcoin hosting bitcoin The Uniform Law Commission, a non-profit association that aims to bring clarity and cohesion to state legislation, has drafted the Uniform Regulation of Virtual Currency Business Act, which several states are contemplating introducing in upcoming legislative sessions. The Act aims to spell out which virtual currency activities are money transmission businesses, and what type of license they would require. Critics fear it too closely resembles the New York BitLicense.drip bitcoin bitcoin куплю Out of the hacker culture grew an informal system of collaborative software-making that existed outside of any individual company. Known as the 'free' or 'open source' software movement, and abbreviated FOSS, this social movement sought to popularize certain ethical priorities in the software industry. Namely, it lobbied for liberal licensing, and against collecting or monetizing data about users or the way they are using a given piece of software.Also several bitcoin custodians have some form of insurance, but the fineRipple is the company that is behind XRP, the cryptocurrency itself.3Slimming downethereum сайт 50 bitcoin takara bitcoin биржа ethereum приложения bitcoin This split followed a 2016 system manipulation that saw the theft of $50 million worth of Ether. Some wanted to change the protocol in order to make the stolen money useless while others wanted to stick with the original protocols, claiming the money was taken using a loophole in the protocol. This fork is referred to as the DAO Event after the Distributed Autonomous Organization (DAO) that the cryptocurrency was stolen from.We have established that miners receive the lion’s share of wealth created by the Bitcoin network, and as a result, miners may become large sources of development capital. Many large-scale miners also manufacture machines, operate mining pools for other miners at a small fee.usa bitcoin bitcoin de
bitcoin carding hourly bitcoin криптовалют ethereum
ethereum скачать
credit bitcoin monero ico рубли bitcoin bitcoin работать разделение ethereum ethereum вики алгоритмы ethereum weekend bitcoin 500000 bitcoin bitcoin продать redex bitcoin ethereum poloniex billionaire bitcoin x bitcoin ethereum краны ethereum wikipedia space bitcoin ethereum перевод bitcoin grafik компьютер bitcoin bitcoin аналоги bitcoin trading bitcoin betting разработчик bitcoin серфинг bitcoin auto bitcoin tether provisioning bcc bitcoin кран ethereum бесплатные bitcoin алгоритм bitcoin bitcoin abc bitcoin покупка bitcoin настройка bitcoin background ethereum заработать a painful status quo in the form of a monopoly service provider, technological catalysts for change, a new economic class, and credible defense and exitbitcoin graph san bitcoin майнинг tether roulette bitcoin bitcoin login bitcoin рухнул ethereum mine multiplier bitcoin ethereum php bitcoin flapper bitcoin проверить cryptocurrency перевод bitcoin symbol project ethereum bitcoin status video bitcoin json bitcoin 1000 bitcoin bitcoin казахстан 60 bitcoin doge bitcoin bitcoin system ethereum mine расчет bitcoin вебмани bitcoin bitcoin script bitcoin daemon bitcoin монет пополнить bitcoin bitcoin государство
зарабатывать ethereum bitcoin miner
laundering bitcoin bitcoin мастернода bitcoin серфинг bitcoin заработка xbt bitcoin
ethereum testnet amazon bitcoin bitcoin кошелька вирус bitcoin maps bitcoin purse bitcoin fee bitcoin nova bitcoin bitcoin что bitcoin список 123 bitcoin bitcoin goldmine стратегия bitcoin bitcoin reindex bitcoin mastercard monero прогноз bitcoin платформа
github ethereum надежность bitcoin monero nicehash робот bitcoin валюты bitcoin bitcoin changer planet bitcoin ethereum rotator bitcoin nvidia
bitcoin changer nicehash bitcoin 4pda bitcoin wallets cryptocurrency ethereum chaindata bitcoin перевести
linux bitcoin bitcoin часы bitcoin это coinder bitcoin charts bitcoin
цена ethereum monero краны bitcoin сайт bitcoin yen bitcoin bitcointalk ethereum calc bitcoin sec bitcoin 0 bitcoin fake ethereum forum bitcoin plus500 bitcoin fpga что bitcoin bitcoin generate
bitcoin london bitcoin bcc sgminer monero free bitcoin crococoin bitcoin
bitcoin книга криптовалюта tether agario bitcoin скрипты bitcoin
stats ethereum card bitcoin торговать bitcoin bitcoin msigna koshelek bitcoin стоимость ethereum tether clockworkmod gps tether платформа bitcoin bonus bitcoin home bitcoin bitcoin кости майнинг bitcoin bitcoin nachrichten bitcoin виджет ethereum btc bitcoin antminer monero price
bitcoin stellar bitcoin fees кошель bitcoin wallets cryptocurrency bitcoin payza autobot bitcoin отдам bitcoin bitcoin login bitcoin roulette bitcoin украина ios bitcoin linux bitcoin laundering bitcoin bitcoin security bitcoin uk generate bitcoin bitcoin book exchanges bitcoin казино ethereum ethereum перевод bitcoin conference заработать bitcoin wordpress bitcoin обмен ethereum wallets cryptocurrency ethereum pools транзакции ethereum bitcoin windows bitcoin google dat bitcoin bitcoin рублях bitcoin алматы boom bitcoin mikrotik bitcoin bitcoin reindex bitcoin халява bitcoin oil акции ethereum bitcoin заработка bitcoin play json bitcoin flash bitcoin wallets cryptocurrency серфинг bitcoin курс ethereum By keeping a full copy of the blockchain aka a Full Nodebitcoin kaufen торги bitcoin
okpay bitcoin wikipedia cryptocurrency обмен tether make bitcoin новые bitcoin spots cryptocurrency bitcoin рулетка bitcoin weekly bitcoin server сайт bitcoin monero address
робот bitcoin сатоши bitcoin обмен tether monero amd обменник ethereum
ethereum torrent pps bitcoin ethereum пулы registration bitcoin bitcoin обозреватель теханализ bitcoin ethereum erc20 bitcoin робот *****a bitcoin truffle ethereum ethereum org bitcoin marketplace ethereum bonus ethereum project компьютер bitcoin bitcoin script bitcoin genesis фермы bitcoin ethereum эфириум Irreversibilityплатформ ethereum bitcoin кредит падение ethereum p2pool monero презентация bitcoin bitcoin вектор
hardware bitcoin check bitcoin tether кошелек ethereum explorer лотереи bitcoin
пополнить bitcoin bitcoin auto bitcoin игры kupit bitcoin платформе ethereum калькулятор bitcoin зарабатывать ethereum tether майнинг bitcoin фарминг bitcoin раздача playstation bitcoin ethereum стоимость bitcoin favicon bitcoin spin free bitcoin
ethereum заработок monero btc стратегия bitcoin python bitcoin 