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Litecoin (LTC)

Discussion in 'Forex and Cryptocurrencies' started by DB008, Jun 12, 2018.

  1. DB008

    DB008

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    LTC 04.png


    Litecoin was forked from Bitcoin in 2011 by Charlie Lee. It has a total of 84 million coins and uses scrypt hashing algorithm, instead of SHA-256 that Bitcoin uses. Block time is about 2.5 minutes, Lightning/Atomic Swaps have been tested on Litecoin and Segwit has also been applied.

    Often referred to as 2nd place behind Bitcoin (BTC) or Silver/2nd place, Bitcoin's little brother.

    New technology is usually tested on Litecoin before it goes live on Bitcoin. Kind of a testing ground.

    Charlie Lee left Litecoin in Dec 2017 to avoid conflict of interest.


    Max Supply - 84 million coins
    Block time - 2.5 minutes
    Algorithm - Scrypt
    Transaction fees - 0.01 lites per kB (0.00001 LTC)
    Scalability - 56 tx/s
    Supported by Ledger and Trezor (Hardware Wallets)

    LTC Chart 02.png


    Upcoming protocols to Litecoin (kind of a roadmap)

    MAST
    Lightning Network
    Atomic Swaps
    Covenants
    Colored Coins
    Confidential Transactions

    Very interesting times we live in.


     

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