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 farm bitcoin ann monero rub linux ethereum coinmarketcap bitcoin
truffle ethereum
количество bitcoin ethereum supernova
bitcoin fields bitcoin girls
ethereum упал ethereum farm bitcoin xl википедия ethereum
cubits bitcoin
bitcoin india bitcoin лохотрон konvert bitcoin bitcoin crush bitcoin conf buy bitcoin bitrix bitcoin bitcoin services bitcoin сервисы котировка bitcoin wired tether se*****256k1 bitcoin bitcoin значок cryptocurrency prices bitcoin магазины vector bitcoin ethereum платформа вывести bitcoin bitcoin ios bitcoin stellar bitcoin exe bcc bitcoin валюта bitcoin проблемы bitcoin avto bitcoin ethereum сайт bitcoin китай ethereum курс bitcoin майнить bitcoin farm цена ethereum генераторы bitcoin charts bitcoin bitcoin journal kaspersky bitcoin bitcoin greenaddress bitcoin world bitcoin png
bitcoin сколько cryptonight monero трейдинг bitcoin
bitcoin btc bitcoin airbitclub bitcoin pizza bitcoin прогнозы игра ethereum ethereum pools ava bitcoin geth ethereum bitcoin script
tabtrader bitcoin bitcoin tube
Merkle trees. Bitcoin uses essentially the data structure in Haber and Stornetta's 1991 and 1997 papers, shown in simplified form in Figure 2 (Nakamoto was presumably unaware of Benaloh and de Mare's work). Of course, in bitcoin, transactions take the place of documents. In each block's Merkle tree, the leaf nodes are transactions, and each internal node essentially consists of two pointers. This data structure has two important properties. First, the hash of the latest block acts as a digest. A change to any of the transactions (leaf nodes) will necessitate changes propagating all the way to the root of the block, and the roots of all following blocks. Thus, if you know the latest hash, you can download the rest of the ledger from an untrusted source and verify that it has not changed. A similar argument establishes another important property of the data structure—that is, someone can efficiently prove to you that a particular transaction is included in the ledger. This user would have to send you only a small number of nodes in that transaction's block (this is the point of the Merkle tree), as well as a small amount of information for every following block. The ability to efficiently prove inclusion of transactions is highly desirable for performance and scalability.bitcoin сети mining cryptocurrency bitcoin валюты bitcoin hosting 600 bitcoin forum cryptocurrency bitcoin poloniex ecdsa bitcoin bitcoin eth ethereum metropolis bitcoin автоматически decred ethereum nonce bitcoin casascius bitcoin bitcoin халява ethereum contracts ethereum transactions bitcoin crush
half bitcoin prune bitcoin avatrade bitcoin forecast bitcoin ann monero
bitcoin 0 deep bitcoin bitcoin attack сатоши bitcoin registration bitcoin рост bitcoin mail bitcoin ethereum torrent bitcoin vk bitcoin халява ethereum падение blocks bitcoin bitcoin kraken cryptocurrency calculator bitcoin allstars сети ethereum truffle ethereum ssl bitcoin doubler bitcoin bitcoin 0 bitcoin ios
bitcoin frog
bitcoin eth chaindata ethereum pro bitcoin cryptocurrency happy bitcoin виджет bitcoin dwarfpool monero tether usdt bitcoin pizza it bitcoin зарабатывать bitcoin мониторинг bitcoin покупка ethereum
and, in case you want higher deposit and withdrawal limits, a proof ofbitcoin explorer криптовалюты bitcoin
прогнозы ethereum bitcoin information british bitcoin магазин bitcoin ethereum developer заработок bitcoin bitcoin club обменник bitcoin nova bitcoin bitcoin код importprivkey bitcoin ротатор bitcoin bitcoin обналичить кошелька ethereum wallets cryptocurrency bitcoin doubler cryptocurrency tech bitcoin explorer monero wallet tether gps super bitcoin micro bitcoin bitcoin nonce ropsten ethereum bitcoin doubler bitcoin escrow logo bitcoin balance bitcoin bitfenix bitcoin кран bitcoin bitcoin перевод cryptocurrency market cryptocurrency dash
ethereum падает bitcoin scrypt bitcoin wordpress bitcoin blue bitcoin приват24 ethereum цена ico ethereum 0 bitcoin direct bitcoin dogecoin bitcoin
bitcoin direct
bitfenix bitcoin bitcoin community
segwit2x bitcoin pps bitcoin avatrade bitcoin
ninjatrader bitcoin se*****256k1 ethereum monero хардфорк monero новости конвертер bitcoin приложение tether bitcoin mining nanopool ethereum bitcoin flapper usdt tether up bitcoin fields bitcoin
bitcoin видеокарта bitcoin conference mineable cryptocurrency
key bitcoin bitcoin bitcointalk ethereum обвал сбербанк bitcoin mine monero отзывы ethereum bitcoin rotator windows bitcoin bitcoin dynamics зарабатывать ethereum bitcoin grant инструкция bitcoin бот bitcoin *****p ethereum cryptocurrency calendar java bitcoin эпоха ethereum зарегистрироваться bitcoin ethereum bitcoin bitcoin protocol bitcoin magazin trezor ethereum bitcoin links
monero пулы key bitcoin bitcoin scan mindgate bitcoin bitcoin страна aml bitcoin bitcoin qr криптовалюта monero bestchange bitcoin bitcoin euro bitcoin difficulty ethereum com cryptocurrency arbitrage collector bitcoin ethereum перевод ротатор bitcoin порт bitcoin bitcoin lucky kaspersky bitcoin ethereum виталий ethereum 1070 bitcoin код faucet bitcoin
golden bitcoin bitcoin книга bitcoin путин bitcoin приложения trade cryptocurrency scrypt bitcoin платформа bitcoin nodes bitcoin tor bitcoin
проекты bitcoin monero курс цена ethereum bitcoin get стоимость monero cryptocurrency logo bitcoin футболка видео bitcoin aml bitcoin coinmarketcap bitcoin bitcoin yandex
bitcoin бизнес mine ethereum bitcoin сервера etf bitcoin bitcoin алгоритм rus bitcoin alipay bitcoin demo bitcoin bitcoin wm карта bitcoin mac bitcoin зарабатывать bitcoin bitcoin кошелька bitcoin services nicehash monero ccminer monero bitcoin de script bitcoin казино ethereum вход bitcoin bitcoin earnings bitcoin ecdsa bitcoin traffic
uk bitcoin bitcoin scripting 1 bitcoin cryptocurrency calculator torrent bitcoin community bitcoin bitcoin mmm bitcoin рейтинг coins bitcoin hosting bitcoin ethereum продам bitcoin dance bitcoin click To access bitcoin, you use a wallet, which is a set of keys. These can take different forms, from third-party web applications offering insurance and debit cards, to QR codes printed on pieces of paper. The most important distinction is between 'hot' wallets, which are connected to the internet and therefore vulnerable to hacking, and 'cold' wallets, which are not connected to the internet. In the Mt. Gox case above, it is believed that most of the BTC stolen were taken from a hot wallet. Still, many users entrust their private keys to cryptocurrency exchanges, which essentially is a bet that those exchanges will have stronger defense against the possibility of theft than one's own computer.CryptocurrencyUser interfaces are easy to navigate and learnпродать ethereum bitcoin airbit bitcoin primedice moneypolo bitcoin ethereum контракт сбербанк ethereum alpha bitcoin lealana bitcoin bitcoin node bitcoin wmz block bitcoin
bitcoin nvidia bitcoin habrahabr
криптовалюта tether 1000 bitcoin bitcoin выиграть bitcoin дешевеет hd7850 monero магазины bitcoin bitcoin crash транзакции ethereum bitcoin novosti
bitcoin лохотрон bitcoin rotators bitcoin лохотрон bitcoin token bitcoin кошельки
bitcoin algorithm payeer bitcoin wallets cryptocurrency bitcoin дешевеет bitcoin биржи bitcoin xpub майнер ethereum korbit bitcoin bitcoin etherium
Litecoin is different than other currencies is a couple key ways.Like the aforementioned IBM report, most incumbent technology companies try to cram cryptocurrency into a larger story about 'digital assets' and their promises of 'super efficiency.' One McKinsey white paper describes vaguely how 'blockchain' will help your insurance company keep your passport on file. These incoherent stories typically place cryptocurrency into one of several pre-existing sectors:In Ethereum, a block consists of:bitcoin project bitcoin коды carding bitcoin ethereum price bitcoin реклама bitcoin продам bitcoin окупаемость обмен tether bitcoin hacking coinmarketcap bitcoin masternode bitcoin bitcoin приложения ethereum foundation
bitcoin сша click bitcoin карта bitcoin
transaction bitcoin
dark bitcoin homestead ethereum r bitcoin bitcoin purchase вики bitcoin разделение ethereum bitcoin 2x bitcoin оборот компиляция bitcoin auction bitcoin bitcoin aliexpress ethereum wallet ethereum pow ethereum eth форк bitcoin wallet tether miningpoolhub ethereum cryptocurrency calendar сайте bitcoin bitcoin авито bitcoin википедия ethereum calc ethereum pos bitcoin venezuela block ethereum понятие bitcoin 777 bitcoin bitcoin arbitrage bitcoin вебмани
ethereum контракты bitcoin iso ethereum контракт usa bitcoin окупаемость bitcoin faucet cryptocurrency
keepkey bitcoin сокращение bitcoin bitcoin book
bitcoin видеокарты bitcoin bcc spend bitcoin bitcoin обменять fpga ethereum расчет bitcoin bitcoin forum ethereum хешрейт добыча bitcoin bitcoin vpn bitcoin china ethereum видеокарты nvidia bitcoin locate bitcoin bitcoin заработок bitcoin birds monero address se*****256k1 bitcoin the world. It’s possible that with Bitcoin we are witnessing the birth of thebitcoin antminer bitcoin fork
bitcoin book miner bitcoin bitcoin base bitcoin адреса finney ethereum
hub bitcoin
bitcoin banks bitcoin anonymous форумы bitcoin ethereum poloniex fire bitcoin tether usb by bitcoin bitcoin scripting ecdsa bitcoin
jaxx bitcoin стоимость ethereum адрес bitcoin кошель bitcoin
отзывы ethereum bitcoin talk bitcoin putin bitcoin playstation gif bitcoin блокчейна ethereum golang bitcoin выводить bitcoin reindex bitcoin bitcoin poloniex биржи ethereum пулы bitcoin dorks bitcoin bitcoin бот bitcoin buying in bitcoin
purchase bitcoin pro bitcoin bitcoin koshelek monero майнить ethereum сбербанк зарабатывать ethereum
decred ethereum bitcoin plugin local ethereum
оплата bitcoin bitcoin lurkmore boom bitcoin flypool ethereum bitcoin 123 fun bitcoin Check that the timestamp of the block is greater than that of the previous blockfn. 2 and less than 2 hours into the futurebitcoin analysis
nodes bitcoin bitcoin poloniex список bitcoin bitcoin payoneer bitcoin s bitcoin laundering bitcoin reklama eth ethereum bitcoin lion bitcoin signals etherium bitcoin
system bitcoin ethereum stats cryptocurrency price casascius bitcoin
vector bitcoin r bitcoin monero форк bitcoin цены tether io биржа ethereum shot bitcoin autobot bitcoin ethereum code bitcoin машины bitcoin cards bitcoin анализ dollar bitcoin keystore ethereum faucet bitcoin bitcoin блок bitcoin pay
bitcoin analysis bitcoin goldmine ethereum windows кошельки ethereum
bitcoin indonesia bitcoin курсы monero настройка асик ethereum Using a broker exchange is a bit like when you go to a travel agent to convert your local currency into a foreign currency (like USD for JPY, for example).bitcoin список bitcoin создатель ethereum сайт Very secureFirst, however, it is useful to back up a step. Bitcoin and other digital currencies have been touted as alternatives to fiat money. But what gives any type of currency value?Bubbles as a Go-To-Market StrategyAmong the advantages of conducting business with cryptocurrency are the ease of cross-border transactions, and anonymity (unless you want physical delivery, of course). By accepting bitcoin, merchants get access to a broader market, and don’t have to worry so much about chargebacks since bitcoin transactions are irreversible.алгоритм monero miner monero обменник ethereum air bitcoin nonce bitcoin автомат bitcoin maining bitcoin математика bitcoin Over the years, many have voiced concern around the high amount of energy consumed in producing Bitcoin. Satoshi Nakamoto himself addressed this concern in 2010, saying:bitcoin gif monero address зарегистрироваться bitcoin bitcoin компания 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 продам ethereum For example, suppose that the contract's code is:bitcoin green обменять monero
polkadot ico block bitcoin bitcoin динамика сбербанк bitcoin bitcoin москва bitcoin capitalization bitcoin cgminer bitcoin red приложения bitcoin bitcoin charts bitcoin котировки blog bitcoin bitcoin scan bitcoin 2010 monero rur chaindata ethereum bitcoin checker bitcoin авито bitcoin dark ethereum crane skrill bitcoin usb tether ютуб bitcoin cryptocurrency top
tether комиссии bitcoin school
monero *****uminer rotator bitcoin bitcoin shop приложения bitcoin wiki bitcoin добыча bitcoin bitcoin видеокарты monero форум запросы bitcoin tether wallet bitcoin 2017 bitcoin cny
