Litecoin
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Litecoin
6 Full Logo S-2.png
Official Litecoin logo
Denominations
Plural Litecoins
Symbol Ł
Ticker symbol LTC
Precision 10−8
Subunits
1⁄1000 millilitecoin, mŁ
1⁄1000000 microlitecoins, photons, μŁ
Development
Original author(s) Charlie Lee
Initial release 0.1.0 / 7 October 2011; 9 years ago
Latest release 0.18.1 / 11 June 2020; 7 months ago
Code repository github.com/litecoin-project/litecoin
Development status Active
Project fork of Bitcoin
Written in C++
Operating system Windows, OS X, Linux, Android
Developer(s) Litecoin Core Development Team
Source model Open source
License MIT License
Website litecoin.org litecoin.com
Ledger
Timestamping scheme Proof-of-work
Hash function scrypt
Block reward 12.5 LTC (approximately till August 2023), halved approximately every four years
Block time 2.5 minutes
Block explorer ltc.bitaps.com explorer.litecoin.net chainz.cryptoid.info blockchair.com
Circulating supply 62,424,175 LTC (26 June 2019)
Supply limit 84,000,000 LTC
Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Litecoin was an early bitcoin spinoff or altcoin, starting in October 2011. In technical details, Litecoin is nearly identical to Bitcoin.
Contents
1 History
2 Differences from Bitcoin
3 See also
4 References
5 External links
History
Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee who later became Engineering Director at Coinbase. The Litecoin network went live on October 13, 2011.
It was a source code fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.
During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.
In May 2017, Litecoin became the first of the top 5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zürich to San Francisco in under one second.
Differences from Bitcoin
Litecoin is different in some ways from Bitcoin.[citation needed]
The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes. This allows Litecoin to confirm transactions much faster than Bitcoin.
Litecoin uses scrypt in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.[citation needed]
Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.
When it comes to Litecoin as a method of payment, in early days there was correlation to Bitcoin in terms of extended payment patterns. Although one might assume that payment patterns of Litecoin would converge to Bitcoin, it has been found that there is little correlation of the payment patterns of Litecoin vs Bitcoin today, and these patterns continue to diverge over time
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Bitcoin is a cryptocurrency, a digital asset designed to work as a medium of exchange that uses cryptography to control its creation and management, rather than relying on central authorities. It was invented and implemented by the presumed pseudonymous Satoshi Nakamoto, who integrated many existing ideas from the cypherpunk community. Over the course of bitcoin's history, it has undergone rapid growth to become a significant currency both on- and offline. From the mid 2010s, some businesses began accepting bitcoin in addition to traditional currencies.bitcoin links ios bitcoin bootstrap tether проект ethereum bitcoin рейтинг tether скачать bitcoin clicker monero rur avto bitcoin bitcoin asic bitcoin wmz zona bitcoin bitcoin биржа convert bitcoin bitcoin портал платформу ethereum 50 bitcoin bitcoin png bitcoin nyse bitcoin simple gold cryptocurrency lazy bitcoin Another option is to go with something more modern like the FutureBit Apollo LTC Pod. The LTC Pod is capable of about 120 MH/s and costs $499 on Amazon (although prices for cryptocurrency mining rigs are always dropping).Blockchain Career GuideHere is a list of known proof-of-work functions:lootool bitcoin bitcoin вложения In November 2018, Bail Bloc released a mobile app that mines Monero to raise funds for low-income defendants who cannot otherwise cover their own bail.ethereum пул куплю ethereum epay bitcoin bitcoin банк up bitcoin кран bitcoin ethereum charts bittorrent bitcoin Computer scientist Hal Finney built on the proof-of-work idea, yielding a system that exploited reusable proof of work (RPoW). The idea of making proofs of work reusable for some practical purpose had already been established in 1999. Finney's purpose for RPoW was as token money. Just as a gold coin's value is thought to be underpinned by the value of the raw gold needed to make it, the value of an RPoW token is guaranteed by the value of the real-world resources required to 'mint' a PoW token. In Finney's version of RPoW, the PoW token is a piece of Hashcash.A fixed amount of coins also means that inflation will not affect the overall value of the currency, unlike currencies such as the dollar, pound or euro. For forex traders who feel that a currency might drop in value, they may purchase Litecoins and hold on to their investment before selling back into their currency (hopefully at a profit). External influences (such as governments) can manipulate the value of their currency through inflation and quantitative easing, but the same cannot be done with Litecoin, making it more sustainable long term.обсуждение bitcoin ethereum android java bitcoin
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