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Litecoin

Litecoin

Litecoin (LTC or Ł) is a open source peer-to-peer cryptocurrency forked from Bitcoin by creator Charlie Lee. A key difference from Bitcoin is the decreased block generation time.

Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency created by Charlie Lee in October 2011. The Creation and transfer of coins is through an open source cryptographic protocol, and is not managed by any central authority. Litecoin is an open source software project under the MIT/X11 license.

Architecture
Reduced block time

In many regards Litecoin is technically nearly identical to Bitcoin, however, Litecoin claims some technical advantages over Bitcoin. For example, the block generation time of Litecoin is approximately 1/4 the block generation time of Bitcoin; making it four times faster. The reduced block time allows Litecoin to process faster transactions and increase throughput. The cost of speed improvements is a trade off between network propagation time to block creation time, which creates a variety of security tradeoffs.

Hashing algorithm

Litecoin utilizes the scrypt hashing algorithm instead of Bitcoin's SHA256. Scrypt was made in 2014, and increases the difficulty of creating specialized Litecoin ASIC mining hardware.

Segwit

Litecoin was an early adopter of the Segregated Witness update, adding it on May 10, 2017. Litecoin is also an early tester and developer of technologies such as the Lightning Network and atomic swap.

Forks

Litecoin is one of the oldest cryptocurrencies in existence, and a variety of decentralized projects have forked from the open source Litecoin codebase to create their own cryptocurrencies. Examples of cryptocurrencies forking from Litecoin directly, or originating from Litecoin forks, include Feathercoin, Dogecoin, Dash, Gulden, Reddcoin.

Timeline

November 17, 2017
First BTC-LTC Lightning Network swap completed on testnet

The first off-chain atomic swaps utilizing the lightning network are performed.

April 3, 2017
Litecoin Foundation is incorporated

The Litecoin foundation is a non-profit organization registered in Singapore.

October 13, 2011
Litecoin mainnet launched

The Litecoin mainnet was launched on Thursday Oct 13, 2011, 03:00 GMT as a alternative currency fork from the Bitcoin blockchain.

October 7, 2011
Litecoin source code released

Litecoin is announced on bitcointalk as an alternative cryptocurrency to Bitcoin, described by its creator Charlie Lee as "silver to Bitcoin's gold".

People

Name
Role
LinkedIn

Charlie Lee

Further reading

Title
Author
Link
Type
Date

Alpha Technology Announces ASIC Miners for Litecoin are Coming Soon

Jon Southerst

Litecoin Has Now Deployed Segregated Witness

Aaron van Wirdum

Litecoin's SegWit Activation: Why it Matters and What's Next

Alyssa Hertig

Seasonality and Interconnectivity Within Cryptocurrencies - An Analysis on the Basis of Bitcoin, Litecoin and Namecoin

Martin Haferkorn, Manuel Quintana Diaz

Academic paper

Thai Perception on Litecoin Value

Toby Gibbs, Suwaree Yordchim

Academic paper

What is the Difference Between Litecoin and Bitcoin?

Coindesk

Documentaries, videos and podcasts

Title
Date
Link

Litecoin on CNBC with Charlie Lee

Jul 31, 2017

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
CNN
September 13, 2021
CTVNews
In what appears to be a massively successful pump and dump scheme, cryptocurrency litecoin surged around 25 per cent early Monday after a falsified news release said Walmart would begin accepting the payment for online purchases.
By ALI SWENSON and ANNE D'INNOCENZIO
September 13, 2021
AP NEWS
NEW YORK (AP) -- Walmart denied any partnership with the digital currency Litecoin after a fake news release led to a brief flurry of inaccurate reports from national news outlets and social media users on Monday.
Graham Hiscott
August 24, 2021
Express.co.uk
THE value of Sainsbury's soared by nearly £1billion after reports of a possible takeover bid. Shares in the supermarket giant jumped 15 percent and closed at 340p, a seven-year high.
Katie Sewell
August 24, 2021
Express.co.uk
LITECOIN is one of the best-known cryptocurrencies on the market. So what price could Litecoin reach by the end of 2021?
Bloomberg
July 27, 2021
@bsindia
More than $950 million of crypto shorts were liquidated on Monday
JD Alois
July 11, 2021
Crowdfund Insider
Click HERE to find out ⭐ CFTC: Court Bans and Fines PaxForex For Offering Illegal Leveraged Transactions in Crypto. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Tony Zerucha
June 23, 2021
Crowdfund Insider
Click HERE to find out ⭐ Wanchain Adds Litecoin to Cross-Chain Infrastructure. | Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more.
Rickie Houston, CEPF
April 30, 2021
Business Insider
Cryptocurrency exchanges are investment apps that let you trade digital assets like Bitcoin, Ethereum, Litecoin, Dogecoin, and others.
February 10, 2021
The Economic Times
The worlds largest cryptocurrency fell as much as 7.5% Wednesday to $43,764 after surging past $48,000 earlier this week. Alt coins including Ether and Litecoin also declined.
Insider Intelligence
January 27, 2021
Business Insider
The rise of a new technology is often followed by a rise in regulations. See how current and future regulations could affect blockchain technology, bitcoin, and other cryptocurrencies.
Alexandra Sumner
January 12, 2021
Business Insider
Cryptocurrency is a privately issued, digital type of money. The fast-rising prices of bitcoin and other "crypto" coins have attracted investors.
December 6, 2018
WebWire
Today, HTC announced that its first phone of the Exodus project, the 'EXODUS 1', will be available to purchase with the cryptocurrency Litecoin. The early access version of the HTC 'EXODUS 1' can now be purchased on the HTC Exodus website using bitcoin, ether, or litecoin. As the founder of one of the world's most popular cryptocurrencies, Litecoin's creator Charlie Lee is joining the HTC Exodus team as a consultant. Furthermore, the company announce the 1st wave of 'EXODUS 1' phones began...
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