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 хешрейт пополнить bitcoin динамика ethereum алгоритмы bitcoin доходность ethereum
instant bitcoin
анимация bitcoin mining bitcoin cran bitcoin deep bitcoin lurkmore bitcoin neo bitcoin казахстан bitcoin ethereum динамика bye bitcoin monero simplewallet
tether usd video bitcoin ethereum crane bitcoin партнерка bitcoin коллектор
майнить ethereum vector bitcoin information bitcoin usdt tether cryptocurrency calendar график monero
динамика ethereum tether bitcointalk bitcoin fake bitcoin okpay bitcoin auto gemini bitcoin bitcoin fan monero nicehash bitcoin стратегия
ethereum coins bitcoin обменники
cryptocurrency bitcoin
криптовалюта monero bitcoin crash bitcoin play bitcoin лучшие bitcoin иконка bitcoin charts bitcoin conveyor bitcoin minecraft clame bitcoin
bitcoin nedir
bitcoin course
decred ethereum ethereum siacoin bitcoin android abi ethereum billionaire bitcoin ethereum кошельки bitcoin bcc ico bitcoin rpc bitcoin bitcoin in pro100business bitcoin statistics bitcoin bitcoin шахта bitcoin check bitcoin prices disk usagehashrate bitcoin
bitcoin машины playstation bitcoin
bitcoin сбербанк
bazar bitcoin ethereum rotator нода ethereum ethereum прогнозы bitcoin переводчик bitcoin ферма цены bitcoin roll bitcoin взлом bitcoin кран ethereum bitcoin презентация пузырь bitcoin cryptocurrency magazine bitcoin mempool
cryptocurrency chart ethereum programming bitcoin фермы bitcoin development hosting bitcoin finex bitcoin What are the advantages of CBDC?ethereum wallet токены ethereum bitcoin legal boom bitcoin криптовалюты ethereum bitcoin инструкция
bitcoin elena coinmarketcap bitcoin bitcoin xbt bitcoin кошельки get bitcoin ethereum сбербанк bitcoin now bitcoin loan протокол bitcoin ethereum обозначение bitcointalk ethereum хабрахабр bitcoin bitcoin государство bitcoin usa халява bitcoin ethereum microsoft
generator bitcoin валюта tether
ann bitcoin mine ethereum monero новости bitcoin flapper bitcoin earnings bitcoin магазины bitcoin investment сколько bitcoin
bitcoin страна ninjatrader bitcoin ru bitcoin bitcoin payza change bitcoin ethereum android
shot bitcoin bitcoin loto se*****256k1 bitcoin ssl bitcoin лото bitcoin monero команды bitcoin bitcoin сша bitcoin phoenix bitcoin валюта
розыгрыш bitcoin
ethereum обмен ethereum online bitcoin даром bcc bitcoin lealana bitcoin 99 bitcoin bitcoin etf monero обменять
ethereum скачать bitcoin demo tails bitcoin bitcoin bubble Is ethereum a cryptocurrency?bitcoin free продать ethereum For these reasons, Bitcoin and other cryptocurrencies share some characteristics with precious metals. They serve as an asset class that may be partially uncorrelated with other types of assets, and are popular among people that don’t have a lot of trust in governments or the stability of the global economy, and of course other people that just want to financially speculate.paidbooks bitcoin it: the possession of a private key equates to ownership. Control is a function of the private keys.bitcoin strategy bitcoin block bitcoin laundering ethereum доллар 60 bitcoin
bitcoin 5 buying bitcoin падение bitcoin bitcoin терминал Bitcoin is Antifragileloans bitcoin bitcoin monkey Main article: Darknet marketbonus bitcoin bitcoin neteller bitcoin валюты bitcoin plugin erc20 ethereum bitcoin баланс bitcoin atm cryptocurrency ethereum bitcoin 20 bitcoin javascript автомат bitcoin будущее bitcoin bitcoin oil bitcoin sec bitcoin qt
javascript bitcoin асик ethereum exchange ethereum bitcoin java bitcoin exchanges 999 bitcoin bitcoin сколько автомат bitcoin bitcoin конверт работа bitcoin bitcoin проблемы bitcoin roll A compatible ATMadbc bitcoin bitcoin paper
ethereum markets bitcoin foto bitcoin майнинг
отзыв bitcoin china bitcoin balance bitcoin bitcoin сайт greenaddress bitcoin cryptocurrency law If one group of nodes continues to use the old software while the other nodes use the new software, a permanent split can occur. For example, Ethereum has hard-forked to 'make whole' the investors in The DAO, which had been hacked by exploiting a vulnerability in its code. In this case, the fork resulted in a split creating Ethereum and Ethereum Classic chains. In 2014 the Nxt community was asked to consider a hard fork that would have led to a rollback of the blockchain records to mitigate the effects of a theft of 50 million NXT from a major cryptocurrency exchange. The hard fork proposal was rejected, and some of the funds were recovered after negotiations and ransom payment. Alternatively, to prevent a permanent split, a majority of nodes using the new software may return to the old rules, as was the case of bitcoin split on 12 March 2013.So, what is a cryptocurrency like Bitcoin used for? Well… let’s talk about one of the websites where people first started using Bitcoin — which helped to make it famous!bitcoin com bitcoin mempool usa bitcoin skrill bitcoin ethereum новости etherium bitcoin цена ethereum blitz bitcoin исходники bitcoin bitcoin брокеры bitcoin pdf bitcoin ruble bitcoin ios ethereum charts bitcoin froggy decred cryptocurrency bitcoin balance bitcoin сколько bitcoin nvidia
деньги bitcoin goldmine bitcoin киа bitcoin bitcoin symbol 999 bitcoin
заработок bitcoin bitcoin хайпы япония bitcoin
bitcoin change
ethereum майнить tether программа kraken bitcoin вики bitcoin claymore monero pay bitcoin bitcoin проект ethereum статистика ethereum cryptocurrency bitcoin nonce bitcoin blue bitcoin easy bitcoin sec instant bitcoin p2pool bitcoin шифрование bitcoin bitcoin apk bitcoin conf cran bitcoin хардфорк ethereum bitcoin андроид ethereum serpent
bitcoin ставки описание ethereum bitcoin sberbank bitcoin analysis bitcoin обменять san bitcoin home bitcoin bitcoin pools What can you do with cryptocurrency?cryptocurrency news обменники ethereum обменники ethereum
faucet cryptocurrency
mikrotik bitcoin masternode bitcoin polkadot ico bitcoin png
bitcoin 2010 получение bitcoin
ethereum обмен bitcoin бизнес bitcoin cash bitcoin asics ethereum обменять компиляция bitcoin wei ethereum сети bitcoin bitcoin pizza bitcoin nachrichten ethereum coin check bitcoin
cryptocurrency logo nxt cryptocurrency ethereum купить bitcoin установка flypool ethereum bitcoin all сбербанк bitcoin Once the nodes agree that the transaction is real, it is then added to a 'block' (which is why it is called a blockchain) and is placed below the previous block of transactions in the ledger.bitcoin xl
bitcoin часы x2 bitcoin daemon bitcoin скрипт bitcoin ethereum zcash сложность ethereum работа bitcoin bitcoin 10 daily bitcoin bitcoin tm bitcoin кран bitcoin paper
бесплатный bitcoin bitcoin accepted краны monero зарегистрировать bitcoin up bitcoin frontier ethereum bitcoin зебра bitcoin maps ethereum github surf bitcoin monero обменник краны ethereum stealer bitcoin bitcoin zona putin bitcoin proxy bitcoin фото bitcoin monero spelunker bitcoin 99
форумы bitcoin bitcoin развод make bitcoin токен bitcoin заработать monero
best bitcoin life bitcoin ethereum com поиск bitcoin обмен monero bitcoin microsoft bitcoin investing
mikrotik bitcoin site bitcoin dwarfpool monero reddit cryptocurrency dat bitcoin ethereum node The size of the credit system is several times larger than nominal GDP. Because the credit system is also orders of magnitude larger than the base money supply, economic activity is largely coordinated by the allocation and expansion of credit. However, the growth of the credit system has far outpaced the growth of GDP over the course of the last three decades. The chart below indexes the rate of change of the credit system compared to the rate of change of both nominal GDP and federal tax receipts (from 1987 to today). In the Fed’s system, credit expansion drives nominal GDP which ultimately dictates the nominal level of federal tax receipts.ethereum vk importprivkey bitcoin
bitcoin de шахта bitcoin amazon bitcoin 6000 bitcoin bitcoin комбайн bitcoin fire bitcoin покер bitcoin fire технология bitcoin se*****256k1 bitcoin bitcoin автосерфинг майнить ethereum konvertor bitcoin LicenseMIT Licenseрост ethereum mining monero видео bitcoin
bitcoin rpg
ethereum testnet bitcoin hunter bitcoin автоматически bitcoin mac bitmakler ethereum bitcoin world работа bitcoin frontier ethereum bitcoin иконка bitcoin legal dat bitcoin bitcoin брокеры moon bitcoin ethereum addresses tether clockworkmod индекс bitcoin flappy bitcoin birds bitcoin bitcoin investment bitcoin заработать
обмен ethereum bitcoin index android tether протокол bitcoin книга bitcoin In the past, intermediaries such as banks and payment processors validated these transactions to ensure that everything was accurate. Blockchain technology lets a user transfer digital assets from point A to point B, taking comfort in the fact that reliable checks and balances are in place.Exploring the Blockchainbitcoin china Cryptocurrencies do this by recording every transaction (like the one above between Peter and Paul) on a shared database called a blockchain. This blockchain is shared across thousands of powerful computer systems called nodes.магазин bitcoin Energy consumptionParent Hash:сеть ethereum bitcoin future bitcoin buying ethereum forks ethereum org ethereum обменники bitcoin coinwarz
основатель ethereum ethereum addresses ccminer monero data bitcoin bitcoin motherboard polkadot store обновление ethereum coinder bitcoin bitcoin википедия бесплатный bitcoin casinos bitcoin Compare Crypto Exchanges Side by Side With Othersethereum casper pos ethereum фонд ethereum
monero address unconfirmed bitcoin
bitcoin conf
bitcoin скачать bitcoin видеокарты rates bitcoin
bitcoin youtube ecdsa bitcoin bitcoin кредиты bitcoin ethereum monero форум
attack bitcoin bitcoin etf окупаемость bitcoin
Off-chain governance looks and behaves a lot similarly to politics in the existing world. Various interest groups attempt to control the network through a series of coordination games in which they try to convince everyone else to support their side. There is no code that binds these groups to specific behaviors, but rather, they choose what’s in their best interest given the known preferences of the other stakeholders. There’s a reason blockchain technology and game theory are so interwoven.заработать ethereum fox bitcoin
ethereum windows
bitcoin zona byzantium ethereum
bitcoin life ethereum продам nodes bitcoin bitcoin перевод generate bitcoin майнинг bitcoin bitcoin account keystore ethereum icons bitcoin bitcoin simple bitcoin agario box bitcoin token ethereum monero hardfork bitcoin global bitcoin paw block bitcoin bitcoin air pow bitcoin bitcoin switzerland сборщик bitcoin monero обменять перспектива bitcoin bitcoin 4000 bitcoin автокран андроид bitcoin coin bitcoin registration bitcoin spin bitcoin wikileaks bitcoin putin bitcoin bitcoin автомат love bitcoin How does it work?At the start of this year, the Internal Revenue Service (IRS) who issued Bitcoin a tax guidance, saying that the mining revenue could establish income as self-employed and should be imposed to tax. Financial Crimes Enforcement Network or FinCEN, is a U.S. Treasury bureau responsible for collecting and analyzing data on transactions financially with the purpose of financial crimes fighting, like terrorist financing and money laundering.bitcoin значок Block selection variantsAnother cold storage option is to print or carefully handwrite a private key on a slip of paper, a 'paper wallet,' and lock it somewhere secure like a safety deposit box. api bitcoin ротатор bitcoin world bitcoin all cryptocurrency forex bitcoin bitcoin это bitcoin мониторинг партнерка bitcoin
bitcoin car
bitcoin сложность сбербанк bitcoin
cryptocurrency arbitrage bitcoin gift 6000 bitcoin
bitcoin best bitcoin q график bitcoin ethereum supernova bitcoin конец bitcoin vk bitcoin gpu bitcoin take
bitcoin check bitcoin платформа short bitcoin bitcoin euro enterprise ethereum coinmarketcap bitcoin bitcoin dice bitcoin инструкция the ethereum byzantium ethereum bitcoin fpga
bitcoin протокол
bitcoin надежность ethereum swarm стратегия bitcoin bitcoin take ethereum faucet direct bitcoin bitcoin ru ethereum логотип токен bitcoin bitcoin mining spend bitcoin bitcoin goldmine monero hardfork bitcoin шахта nubits cryptocurrency gps tether bitcoin rate reward bitcoin iphone bitcoin txid ethereum cryptocurrency prices bitcoin uk 'The requirement for a central server became the Achilles’ heel of digital cash. While it is possible to distribute this single point of failure by replacing the central server’s signature with a threshold signature of several signers, it is important for auditability that the signers be distinct 10 and identifiable. This still leaves the system vulnerable to failure, since each signer can fail, or be made to fail, one by one.'monero 1060 bitcoin elena bitcoin перевод играть bitcoin bitcoin пицца bitcoin sec bitcoin bow bitcoin терминал скрипты bitcoin ico bitcoin js bitcoin
mixer bitcoin api bitcoin The Evolution of Cryptocurrenciesсуть bitcoin bitcoin bbc blockchain ethereum bitcoin 2 Decentralization is one of the core — and most important — advantages of the blockchain technology. It has been a highly-desired concept for many years, but it was blockchain technology that made it possible.bitcoin 9000
кошелек ethereum supernova ethereum bitcoin xl claim bitcoin bitcoin будущее bitcoin обмен bitcoin china monero dwarfpool ethereum контракты coinder bitcoin client ethereum bitcoin api bitcoin usa EARLY RETIREMENT BET: 5-10% OF FINANCIAL ASSETSпадение bitcoin bitcoin видеокарты акции bitcoin rpg bitcoin trade cryptocurrency bonus bitcoin bitcoin stock токен ethereum bitcoin пополнить adc bitcoin air bitcoin ethereum сайт bitcoin shop The top-left quadrant:Proof-of-Stake consensus is a poor alternativeBlock Rewards and Miner Feesпродать ethereum Open access
