Litecoin was an early bitcoin spinoff, released in October 2011, In technical details, litecoin is nearly identical to Bitcoin.
There are some key differences, however, such as shorter block time which means faster transaction confirmation, as well as a maximum supply which is four times higher.
- Ticker symbol: LTC
- Subunits: 1 microlitecoin = Ł0.0000001
- Total Supply: Ł84 000 000
- Block time: 2.5 minutes
- Transaction validation scheme: Proof of Work
- Original Author(s): Charlie Lee
- Official whitepaper: None available
- Official Website: www.litecoin.org
Who created Litecoin?
LTC was created by a developer and former Google employee named Charlie Lee who is a computer scientist and MIT graduate.
What makes LTC unique?
Many people view Bitcoin and Litecoin like gold and silver. The two are very similar, however, the Litecoin developers are often first to implement new ideas and innovative changes to the protocol.
This makes Litecoin always ahead of Bitcoin in terms of technological development, as well as more practical, due to it’s lower transaction fees and faster confirmation time.
Is Litecoin a good investment?
LTC can be considered a good starting point for exploring the world of cryptocurrency because of its lower value. It also seems to be more accessible from a psychological point of view, which makes it a great option for anyone looking to get familiar with cryptocurrencies.
Litecoin is a popular and secure cryptocurrency with a large community and a long history without much drama.
With that said, nobody can predict the future of the project or the Litecoin price tomorrow or 10 years from now.
Never invest more than you can afford to lose and always do your own research!
Litecoin (LTC) price history
- Litecoin trading began in 2011 at a price of a few cents per LTC.
- In 2013, the price reached about $ 3.
- In November 2013, the price skyrocketed from $ 3 to about $ 50!
- Litecoin’s exchange rate rises about to $ 50 per LTC in July 2017 and reaches $ 80 in September 2017.
- The absolute record is set at around 371 USD per LTC on 19 December 2017.