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.
monero валюта bitcoin froggy machines bitcoin ethereum crane bitcoin технология bitcoin song solo bitcoin обвал ethereum iobit bitcoin bitcoin yandex bistler bitcoin bitcoin ann etherium bitcoin
algorithm bitcoin
16 bitcoin best cryptocurrency продать monero ethereum casino bitcoin bank my ethereum сбербанк bitcoin 6000 bitcoin java bitcoin bitcoin xpub 999 bitcoin bitcoin donate
платформу ethereum best bitcoin курса ethereum bitcoin evolution bitcoin карты ethereum forum ethereum заработать planet bitcoin xmr monero криптовалюту monero monero обменять bitcoin euro ethereum programming
bitcoin википедия txid bitcoin нода ethereum ethereum упал is bitcoin rocket bitcoin alpha bitcoin создать bitcoin ферма ethereum tether tools ethereum coins
bitcoin prominer bitcoin casino blacktrail bitcoin chaindata ethereum bitcoin start
scrypt bitcoin bitcoin обменник nanopool ethereum tether coin bitcoin block bitcointalk monero bye bitcoin Hypothesizing about cultural and economic impacts at scale.кредиты bitcoin cryptocurrency gold
bitcoin ticker bitcoin swiss ethereum calc я bitcoin bitcoin rt ethereum аналитика ethereum продам bitcoin etherium bitcoin widget bitcoin com bitcoin api
криптовалюту monero asics bitcoin bitcoin википедия bitcoin реклама bitcoin knots bitcoin fund transactions bitcoin 22 bitcoin реклама bitcoin ethereum dao курс ethereum connect bitcoin bitcoin community plasma ethereum вложения bitcoin иконка bitcoin stellar cryptocurrency bitcoin карта
кран monero bitcoin json пулы ethereum easy bitcoin bitcoin rt ethereum tokens
бесплатные bitcoin купить monero ann ethereum masternode bitcoin
boom bitcoin apple bitcoin bitcoin sec киа bitcoin добыча bitcoin bitcoin описание kurs bitcoin ethereum free ethereum coin
bitcoin терминал alipay bitcoin токен ethereum продам ethereum ethereum биржа bitcoin visa bitcoin moneybox bitcoin ферма ico cryptocurrency bear bitcoin okpay bitcoin usd bitcoin lurkmore bitcoin pay bitcoin wechat bitcoin bitcoin cny bitcoin nachrichten tracker bitcoin цены bitcoin bitcoin p2p bitcoin machine habrahabr bitcoin *****uminer monero lazy bitcoin bitcoin word vector bitcoin bitcoin motherboard 1070 ethereum обмен monero запросы bitcoin bitcoin block символ bitcoin mine ethereum tether верификация bitcoin blocks bitcoin txid polkadot stingray loco bitcoin phoenix bitcoin download bitcoin monero hardware bonus bitcoin boxbit bitcoin roboforex bitcoin *****p ethereum tor bitcoin bitcoin pools ethereum график bitcoin virus bitcoin gift bitcoin blog ethereum habrahabr криптовалюту monero ethereum exchange bitcoin fire bitcoin оплата moon bitcoin second bitcoin bitcoin спекуляция ethereum linux bitcoin galaxy monero новости sgminer monero кошельки bitcoin bitcoin abc 99 bitcoin bitcoin red United Healthcare has improved its privacy, security, and interoperability of medical records using blockchain technology. It’s seen its operations improve dramatically as a result. We expect other healthcare companies to follow suit as they decentralize their operations, too.wisdom bitcoin cryptocurrency bitcoin компиляция bitcoin
теханализ bitcoin bitcoin nvidia monero dwarfpool advcash bitcoin
ethereum проблемы bitcoin casino кошель bitcoin wikipedia cryptocurrency ethereum вывод ethereum rig daily bitcoin
get bitcoin bitcoin poker bitcoin оборудование
account bitcoin bitcoin rotators
network bitcoin обновление ethereum
alipay bitcoin why cryptocurrency But while no one owns Ethereum, the system that supports this functionality isn’t free. Rather, the network needs 'ether,' a unique piece of code that can be used to pay for the computational resources needed to run an application or program.I don’t know, looking back years from now, which scaling systems will have won out. There’s still a lot of development being done. The key thing to realize is that although Bitcoin is limited in terms of how many transactions it can do per unit of time, it is not limited by the total value of those transactions. The amount of value that Bitcoin can settle per unit of time is limitless, depending on its market cap and additional layers.bitcoin магазины ethereum mine bitcoin прогноз
bitcoin видеокарты bitcoin qiwi accepts bitcoin 0 bitcoin bitcoin прогноз By December 2017, one Bitcoin was worth more than twenty thousand US Dollars! Today, the price of a single Bitcoin is 7,576.24 US Dollars. Which is still a pretty good return, right?xpub bitcoin перевод tether кошелек ethereum bitcoin phoenix c bitcoin реклама bitcoin bitcoin swiss bitcoin книга rpg bitcoin обменники bitcoin bitcoin xyz segwit2x bitcoin bitcoin make wmz bitcoin 2016 bitcoin знак bitcoin putin bitcoin charts bitcoin bitcoin exe bitcoin stock Before the Hindu-Arabic numerals, money counters had to use the abacus or a counting board to keep track of value flows. Germans called the counting board a Rechenbank, which is why moneylenders came to be known as banks. Not only did banks use counting boards, but they also used tally sticks to keep track of lending activities: the monetary value of a loan was written on the side of a stick, and it was split into two pieces, with the lender keeping the larger piece, known as the stock—which is where we get the term stockholderэфириум ethereum bitcoin стратегия bitcoin torrent alpha bitcoin wallets cryptocurrency ethereum fork rocket bitcoin bitcoin hacker raiden ethereum coin bitcoin monero bitcointalk bitcoin auction
запросы bitcoin get bitcoin платформ ethereum algorithm bitcoin
love bitcoin скрипты bitcoin
bitcoin maining minergate ethereum bitcoin доходность bitcoin nedir bitcoin монета Well, your data is currently held in a centralized database (just like at Equifax). A centralized database is much easier to hack into because it uses one main server. In this case, all the hackers must do to steal the data, is hack the main server. In a blockchain, there is no main server — there is no central point for a hacker to attack! Here's a great advantage of blockchain explained.bitcoin agario bank cryptocurrency loan bitcoin пожертвование bitcoin monero algorithm математика bitcoin monero новости bitcoin surf dice bitcoin вход bitcoin шахты bitcoin алгоритмы bitcoin autobot bitcoin bazar bitcoin monero pro ethereum краны 2048 bitcoin ethereum покупка bitcoin doubler bitcoin avto json bitcoin fun bitcoin bitcoin vpn играть bitcoin bitcoin россия bitcoin часы bitcoin login bitcoin чат rinkeby ethereum
будущее bitcoin monero calc bitcoin slots bitcoin convert ethereum перевод bitcoin bio форк bitcoin иконка bitcoin json bitcoin bitcoin инвестирование bitcoin c nicehash monero удвоить bitcoin dapps ethereum bitcoin приложение робот bitcoin bitcoin чат
local bitcoin Cryptocurrencies: Some stablecoins even use other cryptocurrencies, such as ether, the native token of the Ethereum network, as collateral.получить bitcoin mainer bitcoin daemon monero bitcoin вирус bitcoin кэш wifi tether динамика ethereum georgia bitcoin bitcoin review bitcoin 2x bitcoin talk reddit cryptocurrency bitcoin сша протокол bitcoin
cardano cryptocurrency bitcoin mac matrix bitcoin nicehash monero cryptocurrency ico ethereum calc konvertor bitcoin ethereum криптовалюта виталий ethereum системе bitcoin alpari bitcoin bitcoin captcha bitcoin работать The data on a blockchain is meant to be shared while also adhering to the primary premises of cryptocurrency being decentralized, secure and anonymous. Transactions are generated and verified through a process called cryptocurrency mining, which utilizes compute power to solve complex math problems.криптовалют ethereum скачать bitcoin cryptocurrency tech цена bitcoin Ключевое слово bitcoin алгоритм bitcoin игра bitcoin landing ethereum classic продать ethereum black bitcoin майн ethereum gps tether monero gpu blake bitcoin bitcoin spinner ios bitcoin обновление ethereum надежность bitcoin
bitcoin экспресс инвестиции bitcoin twitter bitcoin bitcoin maps master bitcoin bitcointalk monero
bitcoin кошелек bitcoin тинькофф local bitcoin flypool ethereum bitcoin server earn bitcoin bitcoin анализ monero настройка shot bitcoin bitcoin sweeper
bitcoin fork bitcoin testnet aml bitcoin bitcoin заработок bitcoin 99 genesis bitcoin
home bitcoin bitcoin продать bitcoin plugin raiden ethereum bank bitcoin tether apk
bitcoin demo продать ethereum технология bitcoin ethereum swarm bitcoin department cryptonight monero биржи bitcoin
обозначение bitcoin bitcoin автокран расчет bitcoin difficulty monero мастернода bitcoin bitcoin майнер ethereum перспективы bitcoin cran андроид bitcoin форумы bitcoin bitcoin redex wei ethereum
bitcoin goldman webmoney bitcoin bitcoin информация коды bitcoin bitcoin пополнить bitcoin инструкция btc ethereum
bitcoin обменять poloniex monero ethereum coingecko coindesk bitcoin математика bitcoin аналоги bitcoin short bitcoin зарегистрировать bitcoin abc bitcoin monero client bitcoin grafik tether coin
bitcoin сатоши bitcoin blockstream ethereum forum accepts bitcoin cryptocurrency market
bitcoin bubble bitcoin x bitcoin ферма coinmarketcap bitcoin ethereum fork bitcoin отзывы monero ico робот bitcoin lealana bitcoin bitcoin оплатить теханализ bitcoin cryptocurrency tech bitcoin otc ethereum ubuntu bitcoin бонусы bitcoin games bitcoin video цена ethereum ethereum википедия rotator bitcoin monero прогноз ethereum stratum bitcoin бонусы bitcoin poloniex токены ethereum ethereum chaindata Ultimately, immutability is an emergent property, but it is dependent on other emergent network properties. As bitcoin becomes more decentralized, it becomes increasingly difficult to alter the network’s consensus rules and increasingly difficult to invalidate or prevent otherwise valid transactions (often referred to as censorship-resistance). As bitcoin proves to be increasingly censorship-resistant, confidence in the network grows, which fuels adoption, which further decentralizes the network, including its mining function. In essence, bitcoin becomes more decentralized and more censorship-resistant as it grows, which reinforces the immutability of its blockchain. It becomes increasingly difficult to change the history of the blockchain because each participant gradually represents a smaller and smaller share of the network; regardless of how concentrated ownership of the network and mining may be at any point in time, both decentralize over time so long as value increases, which causes bitcoin to become more and more immutable.poloniex monero криптокошельки ethereum создатель ethereum network bitcoin bitcoin instant андроид bitcoin bitcoin config bitcoin wallet short bitcoin bitcoin список раздача bitcoin Products and services that run on Ethereum. There are dapps for finance, work, social media, gaming and more – meet the apps for our digital future.bitcoin 10 monero стоимость electrum ethereum 33 bitcoin
bitcoin suisse bitcoin экспресс bitcoin conveyor bitcoin slots source bitcoin bitcoin roulette bitcoin ticker bitcoin мошенники bitcoin mining запросы bitcoin Is Ethereum mining profitable?ethereum swarm bitcoin авито ad bitcoin падение ethereum котировки ethereum bitcoin рубли difficulty ethereum bitcoin инструкция cz bitcoin
love bitcoin
p2p bitcoin rate bitcoin usa bitcoin bitcoin film nicehash monero bitcoin fortune monero майнеры bitcoin community заработок bitcoin fpga ethereum карты bitcoin bitcoin email
coinbase ethereum лохотрон bitcoin difficulty ethereum серфинг bitcoin bitcoin бонусы bitcoin раздача bitcoin genesis l bitcoin status bitcoin bitcoin вконтакте bitcoin etherium
bitcoin pattern monero hardware bitcoin easy bitcoin compare пул bitcoin world bitcoin bitcoin advertising bitcoin математика киа bitcoin bitcoin список bitcoin динамика bitcoin rig iota cryptocurrency ethereum contracts bitcoin адреса bitcoin sha256 кликер bitcoin bitcoin plus ethereum mist ethereum падение сервер bitcoin group bitcoin bitcoin заработать bitcoin classic скрипт bitcoin отзыв bitcoin bitcoin office
ethereum torrent рейтинг bitcoin ico ethereum bitcoin generator fast bitcoin app bitcoin bitcoin торги bitcoin cap
