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    Cryptocurrencies Litecoin
    USD
    $54.9718 $ 54.9718
    +¥5204,24 4% 1D
    1D 1M 1Y ALL
    LOADING DATA
    Market Cap (USD)
    3.92B
    24H Volume
    288.63M
    Circulating Supply
    71.31M LTC
    Max Supply
    84M LTC
    All Time High
    410.26
    Rank
    22

    About Litecoin (LTC)

    Litecoin (LTC) is a peer-to-peer distributed network currency system, which can be used to conduct rapid transactions around the world, with almost no charge. Litecoin (LTC) was created in 2011 as a fork of Bitcoin. Although the release was inspired by Bitcoin, Litecoin (LTC) aims to improve Bitcoin, has the same implementation principle in technology, and is also not managed by any central authority.

    Since Litecoin (LTC) is an open-source project, the strict cryptography protocol enables this network system to fully protect the financial security of every user. Compared with Bitcoin, it has faster transaction confirmation time, higher network transaction capacity and efficiency. Litecoin (LTC) has a complete industrial chain and sufficient liquidity to prove that it is a mature, safe and stable commercial financial system.

    Litecoin (LTC) currency system is a free software project that follows the MIT / X11 license protocol. It allows you to run, modify and copy the software according to your needs. With a large number of industry support, transaction volume and liquidity, litecoin has become a proven commercial medium complementary to bitcoin and is widely popular in the crypto field.

    In the latest upgrade, Litecoin (LTC) activated the privacy based upgrade - MimbleWimble, which made significant changes to the privacy function of Litecoin network, and also brought a series of regulatory compliance problems. There is still uncertainty about whether the solution is likely to be widely adopted. Although different methods have been adopted in technology, some blockchain projects may already explore the potential of implementing the design of MimbleWimble.


    How does Litecoin (LTC) Work?

    The stable operation of the Litecoin network involves the process of creating and transferring digital currency through open-source crypto protocol. The proof of work mechanism in the Litecoin network uses the scrypt encryption algorithm, which takes longer to calculate and requires more memory. This algorithm makes it difficult to concentrate the computing power, and the miners are more dispersed than Bitcoin, which is conducive to preventing 51% attacks.

    Charlie Lee created Litecoin (LTC) using the Bitcoin code library, so the functions and features of the two currencies have many similarities. However, there are three significant differences in the actual operation process.

    First, the Litecoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation.

    Second, the Litecoin network is expected to generate 84 million Litecoin (LTC), four times the amount of money issued by the Bitcoin network.

    Third, Litecoin (LTC) uses the scrypt encryption algorithm first proposed by Colin Percival in its proof of work algorithm, which makes it easier to mine Litecoin (LTC) on ordinary computers than Bitcoin. Based on this algorithm, each Litecoin (LTC) is divided into 100,000,000 smaller units, defined by eight decimal places.

    But like Bitcoin, Litecoin (LTC) miners need to continuously dig new blocks. Miners need to solve difficult calculation problems to successfully validate the block. Mining rewards will only be granted after successful block validation.

    The difference is that because the scrypt algorithm of Litecoin (LTC) is different from that of Bitcoin, the Bitcoin chip miner cannot be used to dig Litecoin (LTC), which allows Litecoin (LTC) to avoid such attacks and ensures the normal development of the Litecoin network.


    What is Litecoin (LTC)?

    LTC is a peer-to-peer cryptocurrency and the first cryptocurrency based on the scrypt algorithm. It was issued on November 9, 2011, with a maximum supply of 840,000,000 LTC. LTC is currently not regulated by the government or the central bank.

    One of the purposes of creating LTC is to hedge the financial system. In view of the rapid trading speed and low trading cost, and the specific upper limit of the supply of LTC, it has formed a certain understanding with other cryptocurrencies in eliminating people's concern about the overproduction of this fiat currency.

    Like Bitcoin, there are two main channels to obtain Litecoin (LTC) at present, namely, from the trading platform or mining. However, due to its decentralized, anonymous payment and public key features, the government will not be able to start the regulation. In addition, the privacy upgrade of mimblewimble is obviously an insurmountable obstacle on the road of LTC legalization, but it is also the preference of many people in the blockchain field.

    Moreover, the Litecoin Foundation has been continuously improving the Litecoin network and supporting the development of projects on the Litecoin blockchain. We will spare no effort in promoting the adoption, education and development of LTC. In the Litecoin (LTC) store launched by the official community organization, users can freely buy everything from hats to hardware wallets.

    Litecoin (LTC) is undoubtedly a popular pure cryptocurrency in the market. This achievement is largely due to its simplicity and obvious utility advantages. LTC has become one of the most widely accepted cryptocurrencies in the world, with more than 2000 merchants or stores accepting Litecoin (LTC) payment.


    Litecoin (LTC) Crypto Wallet

    In addition to placing LTC in the Gate.io exchange to facilitate trading, LTC can also be placed in a crypto wallet.

    Litewallet is the official Litecoin wallet of the Litecoin Foundation. Litewallet focuses on security and user experience, making it easier to get started with LTC! Currently, Litewallet is seamlessly integrated with Unstoppable Domains and VISA!

    When using litewallet, users have no restrictions on time, place and interaction objects, and enjoy a fast and safe experience in sending, receiving and holding. In addition Litewallet will be more stable and practical in each version through Litecoin Foundation members' continuous investment of time and skills to add functions to litewallet.

    Litewallet code is open source, and the development team uses GitHub to maintain the code base. Moreover, unlike other wallet operations, Litewallet has a full-time team leader and a group of global volunteers. To help people interested in learning more about the field of Litecoin (LTC) to improve their understanding of cryptocurrency.
    Expand

    Litecoin Market

    Currency Price 24H Change Action
    LTC /USDT
    10X Margin
    $54.9718 +4% Trade
    LTC /USDT
    Futures
    $54.7 +3.29% Trade
    LTC /USDT
    Spot
    $54.9718 +4% Trade

    Litecoin News

    News
    Announcements
    Litecoin Foundation’s managing director shares his thoughts on decentralized money

    Litecoin Foundation’s managing director shares his thoughts on decentralized money

    The Litecoin blockchain has been up and running for over a decade with no downtime.
    Source: cointelegraph Posted: 2022-09-20
    Market Trend 29/8 - 4/9|Prices of Bitcoin and ETH remain depressed, most Altcoins maintains sideway price movements

    Market Trend 29/8 - 4/9|Prices of Bitcoin and ETH remain depressed, most Altcoins maintains sideway price movements

    Overall market situation The market has been very quiet throughout the week, with most cryptocurrencies within the top 100 recording small up or down margins of within 5%. However, on Friday morning the situation improved for a few hours when most major cryptocurrencies were in green. The week c...
    Source: Gate.blog Posted: 2022-09-05
    Harmony Hacked $100 Million Worth of Altcoins

    Harmony Hacked $100 Million Worth of Altcoins

    [TL; DR] Horizon Bridge to Harmony blockchain lost $10 million worth of altcoins in a security breach. Tether (USDT), Wrapped BTC (wBTC),Frax (FRAX), Ether (wETH) AAG (AAG), Binance USD (BUSD), Aave (AAVE), SushiSwap (SUSHI, Frax Share (FXS), Dai (DAI), and USD Coin (USDC) were stolen during the...
    Source: Gate.blog Posted: 2022-07-12
    Market Trend 4/7 - 10/7|BTC and ETH regain strength after ‘tourist purge’, DeFi altcoins rally, FED signals another rate hike

    Market Trend 4/7 - 10/7|BTC and ETH regain strength after ‘tourist purge’, DeFi altcoins rally, FED signals another rate hike

    Over the previous week, we have shown the main reasons Bitcoin had such a massive drop - the biggest one in more than 11 years. Macroeconomic pressure from the Federal Reserve across all markets, lingering fear from the Terra (LUNA) collapse, which still has its investigations going at full speed, C...
    Source: Gate.blog Posted: 2022-07-11
    Market Trend 20/6 - 26/6 |BTC and ETH show signs of resistance, Altcoins skyrocket

    Market Trend 20/6 - 26/6 |BTC and ETH show signs of resistance, Altcoins skyrocket

    The bear markets continue at full strength across all financial verticals, with Nasdaq, Dow Jones and S&P 500 maintaining great instability due to recent announcements from the Federal Reserve and US Treasury Department. The same applies to crypto, where last week we saw digital assets plummet s...
    Source: Gate.blog Posted: 2022-06-27
    Market Trend 13/6 - 19/6 |FED’s biggest hike since 1994, Bitcoin under 20k, Altcoins obliterated

    Market Trend 13/6 - 19/6 |FED’s biggest hike since 1994, Bitcoin under 20k, Altcoins obliterated

    If there was any doubt that crypto, and all financial markets as a whole, were in a bear market then let it be put to rest now. While we provided context over the previous week that this is not the moment to make any big decisions, the alarms have officially sounded following the Federal Reserve’s...
    Source: Gate.blog Posted: 2022-06-20
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