Date of introduction: 7 October 2011
Rank on Coinmarketcap: 5
Current price: €184
Current circulating supply: 55,261,858 LTC
Total Maximum Supply: 84,000,000 LTC
Official Website: https://litecoin.org
What is LiteCoin
Litecoin came to be as a fork of BTC. Meaning it is almost identical to the BTC code with the main difference being that LTC has a decreased block generation time (meaning the transaction time is much faster), increased number of coins.
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin. – Litecoin.
Founder / CEO
- Ex-Google employee (software-engineer)
- Ex-director of engineering at Coinbase
Has around 20 full- and part-time employees working on Litecoin.
Litecoin headquarters is located in San Francisco, USA
Exchanges offering LTC
As Litecoin is one of the major competitors of BTC and considered mainstream amongst cryptocurrencies. Most if not all exchanges offer LTC.
Litecoin has a massive amount of partner that accept Litecoin as a payment method, these partnerships range from travel agencies, to educations, professional services and Health and beauty.
For the full list see: https://litecoin-foundation.org/businesses/
- Litepay (will be released 26th Febuary 2018)
LitePay is a payment processor which essentially means business can accept payment in Litecoin through the company’s Litecoin-exclusive debit card and LitePal is a payment processor for online transactions.
- LitePal (no release date given)
LitePal is the new payment processing service for Litecoin which will make it “easier for merchants to accept LTC
- Is considered to be one of the major competitors of BTC
- Is already adopted by the majority of the cyptocommunity as the ‘’best after bitcoin’’
- No whitepaper
LTC explained (video)
Litecoin does not have its own whitepaper, however, because it is almost an identical clone of BTC, it can be assumed that they share the same whitepaper. Yet Litecoin will achieve these at a faster pace.