exit icon
Press enter to confirm search term
Crypto

LiteCoin (LTC)

arrow down

LiteCoin (LTC)

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

Mineable: Yes

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.

 

Leadership

Founder / CEO

Charlie Lee

  • Ex-Google employee (software-engineer)
  • Ex-director of engineering at Coinbase

Twitter: https://twitter.com/SatoshiLite?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
LinkedIn: https://www.linkedin.com/in/chocobo/

 

 

Team
Has around 20 full- and part-time employees working on Litecoin.

 

Location

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.

 

Partnerships

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/

 

Future plans

  • 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

 

Positive sides

  • 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’’

 

Negative sides

  • No whitepaper

 

 

LTC explained (video)

https://www.youtube.com/watch?v=vtfr-zlHG5U

 

LTC Whitepaper

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.

 

 

Leave a Reply

%d bloggers like this: