LTC

LTCLTC

Litecoin
$61.66
-3.48%
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  • Market Cap
    $3,925,232,130
  • 24h Vol (Global)
    ฿53,104 ($464,184,957)
  • Circulating Supply
    63,659,295
  • Issue Date
    2011-10-08
  • Issue Price
    -
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Max SupplyCirculating SupplyIssue DateIssue PriceConsensus ProtocolExplorer
84,000,00063,659,2952011-10-08-POW1
explorer.litecoin.net
2
chainz.cryptoid.info
3
live.blockcypher.com
4
blockchair.com
Total SupplyCryptographic AlgorithmSource CodeWhite PaperWebsiteType
63,659,295Scrypthttps://github.com/litecoin-prhttps://litecoin.org/COIN

General Data and Information The Litecoin software was released on the 7th October 2011 by Charlie Lee, with the network going live roughly a week later on the 13th of October 2011. As a fork of Bitcoin Core, Litecoin featured several improvements upon the original Bitcoin protocol including reduced blocktimes (decreased to 2.5 minutes instead of 10 minutes), increased total supply and a different proof of work algorithm (scrypt vs SHA-256). The adoption of a faster blocktime meant that transactions were quicker to settle and be written into the blockchain, whilst the adoption of the memory intensive scrypt algorithm was intended to defeat the ASIC dominance of mining (due to the added financial costs of producing specialized mining machines with the required extra memory). However, due to the popularity of Litecoin, ASICs have been already developed and deployed that are able to mine the scrypt algorithm. Often considered to be the silver to Bitcoin’s gold status, improvements and upgrades are often rolled out to the Litecoin network before they reach the Bitcoin network (such as the SegWit and Lightning Network upgrades). This practice has also led to some people derisively calling Litecoin the test-network for Bitcoin. Milestones 7th October 2011 - Open Source software for Litecoin released. 13th October 2011 - Litecoin network goes live. May 2017 - Segregated Witness (SegWit) implemented. First Lightning Network transaction completed on the Litecoin network. Utility Litecoin serves a similar use-case function as Bitcoin, attempting to be a digital store of value and medium of exchange but with the advantage of faster block times (which makes transactions faster to settle). In addition (due to lower network usage), it has lower transaction fees than the better known flagship crypto-currency. However, it suffers from a smaller market capitalization and liquidity which makes it much less useful as a pairing partner for other crypto-currencies. Significant Features - Average Blocktime of 2.5 minutes; Total supply of 84 million LTC; Proof of Work consensus based on scrypt algorithm. - Transactions are pseduo-anonymous. Funds are sent address to address, but an owner identity can eventually attributed to an address given enough data and analysis. - Whilst sharing many decentralized attributes of consensus and governance as Bitcoin, Litecoin does have a known creator who can provide vision and guidance for the direction of the project. - Decentralized access allowing any party with the open-source software and internet access to send and receive Bitcoin irreversibly without third party interference or trust. - Decentralized governance via open-source development and forking. References: https://en.wikipedia.org/wiki/Litecoin https://litecoin-foundation.org/ https://en.wikipedia.org/wiki/Charlie_Lee_(computer_scientist) https://litecoin.info/index.php/Main_Page https://en.bitcoinwiki.org/wiki/Litecoin

Teams
    Charlie Lee

    Charlie Lee

    Founder

    Charlie Lee :More than four years before Charlie founded Litecoin, he started working at Google in September 2007 as a software engineer. At Google, Charlie is involved in many projects such as Play Games, YouTube Mobile and Chrome OS. In July 2013, Charlie left Google after five years of working with the company. In October 2011, Charlie Lee founded Litecoin. About two years after the creation of Litecoin, Charlie left Google to work for the newly created Coinbase. Charlie worked for 4 years at Coinbase, initially as an engineering manager and then as an engineering director before leaving in 2017. Charlie was one of the first people to be hired to work at Coinbase. He is currently the Managing Director of the Litecoin Foundation and oversees the development of Litecoin's cryptocurrency. A Segregated Witness (SegWit) protocol upgrade has been implemented and more future upgrades are planned.

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    Litecoin China Community Leader

    Litecoin China Community Leader

    PZ

    Early Bitcoin evangelist, Convener of the Global Bitcoin Roundtable, Secretary General of the Global Litecoin Roundtable, AMT Community and the sponsor of the VNS project.

    More
Introduction

General Data and Information The Litecoin software was released on the 7th October 2011 by Charlie Lee, with the network going live roughly a week later on the 13th of October 2011. As a fork of Bitcoin Core, Litecoin featured several improvements upon the original Bitcoin protocol including reduced blocktimes (decreased to 2.5 minutes instead of 10 minutes), increased total supply and a different proof of work algorithm (scrypt vs SHA-256). The adoption of a faster blocktime meant that transactions were quicker to settle and be written into the blockchain, whilst the adoption of the memory intensive scrypt algorithm was intended to defeat the ASIC dominance of mining (due to the added financial costs of producing specialized mining machines with the required extra memory). However, due to the popularity of Litecoin, ASICs have been already developed and deployed that are able to mine the scrypt algorithm. Often considered to be the silver to Bitcoin’s gold status, improvements and upgrades are often rolled out to the Litecoin network before they reach the Bitcoin network (such as the SegWit and Lightning Network upgrades). This practice has also led to some people derisively calling Litecoin the test-network for Bitcoin. Milestones 7th October 2011 - Open Source software for Litecoin released. 13th October 2011 - Litecoin network goes live. May 2017 - Segregated Witness (SegWit) implemented. First Lightning Network transaction completed on the Litecoin network. Utility Litecoin serves a similar use-case function as Bitcoin, attempting to be a digital store of value and medium of exchange but with the advantage of faster block times (which makes transactions faster to settle). In addition (due to lower network usage), it has lower transaction fees than the better known flagship crypto-currency. However, it suffers from a smaller market capitalization and liquidity which makes it much less useful as a pairing partner for other crypto-currencies. Significant Features - Average Blocktime of 2.5 minutes; Total supply of 84 million LTC; Proof of Work consensus based on scrypt algorithm. - Transactions are pseduo-anonymous. Funds are sent address to address, but an owner identity can eventually attributed to an address given enough data and analysis. - Whilst sharing many decentralized attributes of consensus and governance as Bitcoin, Litecoin does have a known creator who can provide vision and guidance for the direction of the project. - Decentralized access allowing any party with the open-source software and internet access to send and receive Bitcoin irreversibly without third party interference or trust. - Decentralized governance via open-source development and forking. References: https://en.wikipedia.org/wiki/Litecoin https://litecoin-foundation.org/ https://en.wikipedia.org/wiki/Charlie_Lee_(computer_scientist) https://litecoin.info/index.php/Main_Page https://en.bitcoinwiki.org/wiki/Litecoin

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