Litecoin is a popular and appreciated by the cryptocurrency community coin. The e-currency was created in 2011 by a computer programmer Charlie Lee. Since then, unlike Bitcoin, which is entitled as the crypto-gold, Litecoin has been often called the silver of the cryptocurrency. Litecoin was created as a derivative of Bitcoin, but there are a few apparent differences between the coins. Are you looking for a reliable source providing the latest information about Litecoin cryptocurrency? You've found the right place, then! In the "Litecoin news" tab you will find the latest news about Litecoin.
What are the differences between Bitcoin and Litecoin? The block creation time in the Litecoin network is 2.5 minutes and is a prominently better result than the one obtained by Bitcoin. It means that the Litecoin network works much more efficiently and faster than the Bitcoin infrastructure. Moreover, LTC, in contrast to BTC, does not use the "SHA-256" mechanism but the "scrypt" protocol. Currently, 56 million LTC tokens are in circulation and the maximum number of coins is 84 million tokens.
Litecoin, due to its good financial results, is a popular coin among the cryptocurrency community. What should be emphasized is the fact, that this e-currency reached market capitalization at the level of 1 billion dollars within just two years since its creation. Today, Litecoin is placed sixth in the ranking in terms of market capitalization among the 1,600 cryptocurrencies that are available on the market. The market valuationis $8 billion, and the price of the coin stays within $146 per token.
Recently, Litecoin made the first Lightning Network type transaction from Zurich to San Francisco. The creator of Litecoina returned to the LTC computer programmers team after a short break, during which he worked for Coinbase.
2017 was one of the best moments in the history of Liteceoin cryptocurrency. It was then that the cryptocurrencies were released to the public opinion, and currency prices were rising month by month. Between January and December 2017, the coin price increased from $4 to $350. This is an increase of over 8,000%! Litecoin has recently been overtaken by Ethereum and Ripple (XRP), but it seems like LTC does not mean to slow down. The collapse of the market that took place in 2018 is partially the reason of the recent decline in the valuation. Even despite this, Litecoin is one of the most valuable cryptocurrencies in the world. A strong position of LTC helps it to stay on a more and more saturated market.
This is not the end of Litecoin news: Litecoin is being created by the Litecoin Foundation - a non-profit organization with a mission to "support Litecoin for the good of society by developing and promoting hi-tech Blockchain technologies". The board of the company registered in Singapore includes: Charlie Lee, Xinxi Wang, Zing Yang and Franklyn Richards.