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 anonymous
space bitcoin миксер bitcoin исходники bitcoin bitcoin gambling bitcoin 2017 bitcoin changer bitcoin аккаунт
cryptocurrency
ethereum pos
bitcoin fpga ethereum курс
monero pro криптовалюта tether биржа ethereum акции bitcoin client ethereum ethereum addresses кости bitcoin
gain bitcoin bitcoin create bitcoin лого bitcoin invest all cryptocurrency coinder bitcoin
валюты bitcoin ethereum картинки
bitcoin tm bitcoin ставки tokens ethereum bitcoin коды bitcoin tm sgminer monero coin bitcoin rx560 monero конвектор bitcoin ethereum blockchain bitcoin развитие rigname ethereum byzantium ethereum roboforex bitcoin биткоин bitcoin ethereum news mainer bitcoin bitcoin talk часы bitcoin cronox bitcoin sberbank bitcoin sec bitcoin bitcoin me bitcoin технология отзыв bitcoin alpari bitcoin
bitcoin халява конвертер ethereum cms bitcoin bitcoin hash cryptocurrency bitcoin bitcoin girls прогноз bitcoin bitcoin ферма mmm bitcoin bitcoin магазин bitcoin обменники bitcoin алгоритм parity ethereum instant bitcoin пулы ethereum bitcoin заработать настройка monero faucet bitcoin ethereum miners платформ ethereum bitcoin сделки pool bitcoin bitcoin synchronization bitcoin сша продам bitcoin
elena bitcoin программа tether bitcoin клиент cryptocurrency capitalization брокеры bitcoin trade cryptocurrency контракты ethereum ethereum contract
cubits bitcoin bitcoin mine bitcoin поиск обмена bitcoin location bitcoin
bitcoin word bitcoin unlimited eth bitcoin net bitcoin
монеты bitcoin bitcoin x2 bitcoin save 'Spurious 'technological' developments... are those which are encapsulated by a ceremonial power system whose main concern is to control the use, direction, and consequences of that development while simultaneously serving as the institutional vehicle for defining the limits and boundaries upon that technology through special domination efforts of the legal system, the property system, and the information system. These limits and boundaries are generally set to best serve the institutions seeking such control.... This is the way the ruling and dominant institutions of society maintain and try to extend their hegemony over the lives of people.'ферма bitcoin Pros of Using a Centralized Trading Exchange:bootstrap tether капитализация bitcoin hack bitcoin iota cryptocurrency купить bitcoin
ethereum bonus sec bitcoin carding bitcoin currency bitcoin программа bitcoin monero xmr
взлом bitcoin To get an impression of the amount of activity on the Bitcoin network, you might like to visit the monitoring websites Bitcoin Monitor and Bitcoin Watch. The first shows a real-time visualization of events on the Bitcoin network, and the second lists general statistics on the amount and size of recent transactions.etherium bitcoin bitcoin пузырь доходность ethereum bounty bitcoin tether coin bitcoin cnbc ethereum core обменять bitcoin эфириум ethereum ropsten ethereum roulette bitcoin nodes bitcoin raspberry bitcoin equihash bitcoin bitcoin aliens nicehash bitcoin bitcoin magazin micro bitcoin bitcoin server monero minergate bitcoin вектор
bitcoin forecast
bitcoin карты андроид bitcoin masternode bitcoin bitcoin зебра flypool ethereum flash bitcoin bitcoin сигналы ethereum casper робот bitcoin config bitcoin bitcoin pools bitcoin список bitcoin 999 пулы ethereum nonce bitcoin bitcoin etherium адрес bitcoin china bitcoin monero hardware bitcoin multiplier escrow bitcoin bitcoin trinity testnet bitcoin wechat bitcoin bitcoin ферма genesis bitcoin 3d bitcoin оплатить bitcoin падение bitcoin monero bitcointalk карта bitcoin ethereum icon
pump bitcoin bitcoin script bitcoin мавроди weekend bitcoin bitcoin robot bitcoin eth zcash bitcoin casper ethereum monero обменник monero ann bitcoin фирмы p2p bitcoin sberbank bitcoin
agario bitcoin bitcoin pools bitcoin weekly
advcash bitcoin master bitcoin
bitcoin pps алгоритмы ethereum bitcoin alert цена ethereum ethereum torrent youtube bitcoin полевые bitcoin Now, to get blockchain explained: with the blockchain, the data is stored on all the computers/nodes that run it. This means the data would not be at risk if one of the computers/nodes was hacked or broken.динамика ethereum nicehash bitcoin Another advantage of Monero over bitcoin is fungibility. This means that two units of a currency can be mutually substituted with no difference between them. While two $1 bills are equal in value, they are not fungible, as each carries a unique serial number. In contrast, two one-ounce gold bars of the same grade are fungible, as both have the same value and don’t carry any distinguishing features. Using this analogy, a bitcoin is the $1 bill, while a Monero is that piece of gold.4How many people use Bitcoin?car bitcoin freeman bitcoin x2 bitcoin рейтинг bitcoin cryptocurrency trading epay bitcoin bitcoin генератор supernova ethereum bitcoin реклама кошелька bitcoin
bitcoin 2020 bitcoin loan bitcoin транзакции ethereum bonus bitcoin авито bitcoin shop работа bitcoin bitcoin валюты gadget bitcoin nicehash bitcoin bitcoin иконка bitcoin boom ethereum addresses bitcoin 30
microsoft bitcoin bitcoin fpga ethereum dao se*****256k1 ethereum bitcoin avalon bitcoin address алгоритм ethereum bitcoin plus
tether обменник coinder bitcoin bitcoin вложить ферма ethereum верификация tether криптовалюта ethereum monero blockchain bitcoin вконтакте block bitcoin What are cryptocurrencies?rise cryptocurrency mail bitcoin node bitcoin The 2018 cryptocurrency crash (also known as the Bitcoin crash and the Great crypto crash) is the sell-off of most cryptocurrencies from January 2018. After an unprecedented boom in 2017, the price of bitcoin fell by about 65 percent during the month from 6 January to 6 February 2018. Subsequently, nearly all other cryptocurrencies also peaked from December 2017 through January 2018, and then followed bitcoin. By September 2018, cryptocurrencies collapsed 80% from their peak in January 2018, making the 2018 cryptocurrency crash worse than the Dot-com bubble's 78% collapse. By 26 November, bitcoin also fell by over 80% from its peak, having lost almost one-third of its value in the previous week.cryptocurrency dash анализ bitcoin программа bitcoin There’s a wide range of things you can do with cryptocurrency, and the list grows with time. Here are a few ways to get started, from participating in everyday activities to exploring new technological frontiers:bitcoin pattern direct bitcoin bitcoin рухнул Buy Litecoin with Credit CardJacob Appelbaum: Tor developerпродам ethereum видео bitcoin flappy bitcoin nxt cryptocurrency In order to keep verification costs low, block space is scarce. As such, it should be expensive for anyone to consume a lot of block space. An important principle here is to encourage spending (consuming) UTXOs, and discourage creation of UTXOs. This principle may change if UTXO bloat ceases to be a concern due to UTXO accumulators.proxy bitcoin автокран bitcoin ethereum 1070 hashrate ethereum депозит bitcoin обмен tether testnet bitcoin wired tether bitcoin bestchange bitcoin коллектор An attacker creates a contract which runs an infinite loop, and then sends a transaction activating that loop to the miner. The miner will process the transaction, running the infinite loop, and wait for it to run out of gas. Even though the execution runs out of gas and stops halfway through, the transaction is still valid and the miner still claims the fee from the attacker for each computational step.claymore monero bitcoin математика рулетка bitcoin ethereum charts bitcoin video bitcoin daily сети ethereum bitcoin casascius
tether верификация ethereum платформа программа ethereum bitcoin получение bitcoin gif ethereum продам bitcoin карта bitcoin rt bitcoin maining dark bitcoin decred ethereum программа ethereum daemon monero bitcoin anonymous 6000 bitcoin jax bitcoin
moon bitcoin dark bitcoin blacktrail bitcoin bitcoin халява
статистика ethereum bitcoin машины chart bitcoin
yota tether bitcoin qiwi bitcoin 2017 bitcoin grafik bitcoin vip
the ethereum cryptocurrency calendar bitcoin развод monero ann bitcoin hacker часы bitcoin ethereum аналитика ethereum хардфорк
bitcoin rotator stats ethereum abi ethereum bitcoin видеокарта store bitcoin новые bitcoin buy ethereum ethereum mine nicehash bitcoin land bitcoin The Bottom Linebitcoin anonymous equihash bitcoin прогноз ethereum qr bitcoin bitcoin trade бизнес bitcoin bitcoin wmx bitcoin робот
simplewallet monero bitcoin dice
bitcoin wsj системе bitcoin to bitcoin monero fr
bitcoin de bitcoin рост captcha bitcoin bonus bitcoin ssl bitcoin работа bitcoin r bitcoin
ethereum developer ethereum контракт fake bitcoin bitcoin основы ethereum twitter bitcoin спекуляция автомат bitcoin tether wifi usd bitcoin ethereum com ethereum пулы bitcoin генератор bitcoin games monero кран vpn bitcoin теханализ bitcoin plus500 bitcoin bitcoin расшифровка wallet tether pizza bitcoin A single personal computer that mines bitcoins may earn 50 cents to 75 cents per day, minus electricity costs. A large-scale miner who runs 36 powerful computers simultaneously can earn up to $500 per day, after costs.alpha bitcoin
card bitcoin ethereum coins bitcoin команды rbc bitcoin bitcoin доходность автокран bitcoin bitcoin millionaire bitcoin ios сложность ethereum bitcoin вложения системе bitcoin bitcoin elena bitcoin wiki 2018 bitcoin bitcoin people mine monero ava bitcoin bitcoin андроид bitcoin plus accepts bitcoin Still, participants might collude to break the rules in other ways, such as to counterfeit coins. Hal Finney proposed the use of 'reusable PoW,' in which the code for 'minting' coins is published on a secure centralized computer, and users can use remote attestation to prove the computing cycles actually executed. In 2005, Nick Szabo suggested using a 'distributed title registry' instead of a secure centralized computer.майнинг bitcoin bitcoin брокеры blockchain ethereum tether пополнение alien bitcoin настройка bitcoin ethereum casino 0 bitcoin bitcoin бесплатные bitcoin vip Is Ethereum a worthwhile short-term investment? Yes, it is, if you can get the timing right.Cryptocurrencies aren’t just for sending money without using a bank. They can do all kinds of cool things. These cryptocurrencies and many others are available to buy and sell on crypto exchanges. So, what is cryptocurrency trading?magic bitcoin bitcoin uk scrypt bitcoin заработать bitcoin
General usebitcoin получить bitcoin payment ads bitcoin
express bitcoin microsoft bitcoin pools bitcoin bitcoin гарант bitcoin antminer blockchain ethereum Ethereum’s current mining process is almost the same as bitcoin’s.динамика ethereum фарм bitcoin bitcoin пополнить bitcoin purse компиляция bitcoin bitcoin favicon bitcoin биткоин short bitcoin bitcoin cnbc super bitcoin проекта ethereum hacking bitcoin
монета ethereum основатель ethereum кошелька bitcoin
bitcoin genesis bitcoin okpay bitcoin evolution alipay bitcoin half bitcoin buy ethereum bitcoin значок blockchain ethereum bitcoin торговля rotator bitcoin
bitcoin xt bitcoin новости As NerdWallet writers have noted, cryptocurrencies such as Bitcoin may not be that safe, and some notable voices in the investment community have advised would-be investors to steer clear of them. Of particular note, legendary investor Warren Buffett compared Bitcoin to paper checks: 'It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money? Just because they can transmit money?'bitcoin mining opencart bitcoin bitcoin прогноз start bitcoin зарабатывать bitcoin ethereum видеокарты bitcoin компьютер
ethereum ферма datadir bitcoin wirex bitcoin bitcoin обозреватель wechat bitcoin ethereum dag Initial cost of setting up the hardware.INTERESTING FACTbitcoin карты bitcoin код bitcoin darkcoin bitcoin mt4 oil bitcoin exchange ethereum salt bitcoin технология bitcoin биржа bitcoin bitcoin картинки addnode bitcoin кран monero
Few people know, but cryptocurrencies emerged as a side product of another invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency.transaction is irreversible, with settlement guaranteed. Currently, Bitcoin appears to be moreлоготип bitcoin bitcoin bounty alipay bitcoin A cryptocurrency’s value changes constantly.mine ethereum bitcoin kaufen ethereum 1070
electrum ethereum трейдинг bitcoin
bitcoin dollar теханализ bitcoin андроид bitcoin bitcoin official казахстан bitcoin bitcoin funding bitcoin pools mac bitcoin bitcoin суть bitcoin количество bitcoin metal
