What is Litecoin (LTC)?
Litecoin is a peer to peer, open source, cryptocurrency, that has received widespread adoption since its inception in 2011. It is a form of digital money that utilizes a blockchain for maintaining a public ledger of all transactions. Litecoin is used to transfer funds directly between individuals or businesses without having any third party such as bank or payment processing service. It is similar to Bitcoin, and shares many architectural features with Bitcoin, but has some benefits over Bitcoin, like a faster block generation time.
Litecoin (LTC): History
Litecoin was released via an open source client on GitHub on October 7, 2011, by Charlie Lee, he was a former Google employee. The Litecoin network went live on October 13, 2011. Litecoin reached a $1 billion market capitalization in November 2013.
In 2014, Litecoin version 0.8.7.1 was released that helped to remove some minor bugs and also countered the Heartbleed bug. In May 2017, Litecoin adopted Segregated Witness, a new type of consensus layer, and also introduced Lightning Network, a super fast transfer protocol which enables transfer of Litecoins within a second.
How Does Litecoin (LTC) Work?
Litecoin works similar to Bitcoin. Thus, when a payment is sent or received by Litecoin, the sender initiates a command to send the money. This command will include the amount to be transferred and the receiver’s address. This information is included in a block which carries it to the miners of Litecoin. Miners are online ledger keepers who might approve or disapprove transactions. If the transaction is approved by the miners, then the amount will be deducted from the sender’s wallet and is added to the receiver’s wallet. For every transaction, Litecoin will charge a small fee.
How to Buy Litecoin (LTC)?
Before you buy your Litecoins, you should first get a wallet to store them on. The most popular wallets today for Litecoin are Coinbase, Exodus, and Jaxx. You can also use hardware wallets like TREZOR or Ledger to store them as well. Create a password for the wallet. Then buy Bitcoin so that you can exchange it for Litecoin.
Litecoin (LTC) Price Prediction 2018
LTC can be a profitable investment option. Litecoin price equal to 111.788 USD at 2018-02-06. If you buy Litecoin for 100 dollars today, you will get a total of 0.895 LTC. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-02-02 is 1065.800 US Dollars. With a 5-year investment, the revenue is expected to be around +853.41%. Your current $100 investment may be up to $953.41 in 2022. Litecoin (LTC) price today is $112.42 and have the current supply of 55,090,708 LTC. The market cap value is $6,193,407,592, and the volume is marked as $926,963,000. Litecoin (LTC) price today, Litecoin (LTC) where to buy, Litecoin (LTC) price chart, Litecoin (LTC) history, Litecoin (LTC) market cap, Litecoin (LTC) exchanges, Litecoin (LTC) mining, Litecoin (LTC) mining software.