• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

Litecoin (LTC)

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

  1. DB008


    Likes Received:
    Jul 9, 2006
    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)

    Lightning Network
    Atomic Swaps
    Colored Coins
    Confidential Transactions

    Very interesting times we live in.


Share This Page