Litecoin (LTC) Cryptocurrency Latest Prices

Posted on – Hello friends, Graffiti around the world, back again with the admin here with an interesting information, namely Litecoin (LTC) Cryptocurrency Latest Price which of course you are waiting for the latest price update.

Cryptocurrencies are now available with various names and prices, therefore all of you as crypto business people are obliged to know one by one the names and prices of these cryptocurrencies, and this review will fulfill all of them.

With so many cryptocurrencies spread all over the world, there is one crypto currency which, according to the admin, is very stable and can be said to attract the attention of people who know the uniqueness of this cryptocurrency.

If you are someone who is really looking for a crypto currency that is stable and has its own characteristics, then you are in the right place, want to know what the uniqueness of Litecoin (LTC) this? Read more below.

What Is Litecoin (LTC) and How Much Is It Currently?

Litecoin (LTC)

Litecoin (LTC) is a cryptocurrency designed to provide fast, secure and inexpensive payments by leveraging the unique nature of blockchain technology.

Cryptocurrencies are based on the Bitcoin (BTC) protocol, but differ in terms of the hash algorithm used, hard cap, block transaction times, and several other factors. Litecoin has a block time of only 2.5 minutes and very low transaction fees, making it suitable for microtransactions and point-of-sale payments.

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Litecoin was released via an open source client on GitHub on October 7, 2011, and the Litecoin Network was active five days later on October 13, 2011. Since then, the cryptocurrency has exploded in both usage and acceptance among traders and is counted among the top ten cryptocurrencies by capitalization. market for most of its existence.

This cryptocurrency was created by Charlie Lee, a former Google employee, who wanted Litecoin to be a “light version of Bitcoin”, because Litecoin has many of the same properties as Bitcoin although it is lighter in weight.

Litecoin’s price today is IDR 975,857 IDR with a 24-hour trading volume of IDR 10,567,814,181,040 IDR. Litecoin is down 3.05 in the last 24 hours. With a market cap of IDR 68,600,419,775,706 IDR.

Who Invented Litecoin?

As we discussed earlier, Litecoin was invented by Charlie Lee, an early cryptocurrency user and a respected name in the cryptocurrency industry.

Charlie Lee, also known as “Chocobo”, was an early Bitcoin miner and computer scientist, who was a former software engineer for Google. Additionally, Charlie Lee held the role of technical director at Coinbase between 2015 and 2017 before moving on to other ventures.

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Today, Charlie Lee is an outspoken cryptocurrency advocate and managing director of the Litecoin Foundation, a non-profit organization that works with the Litecoin Core Development team to help advance Litecoin.

In addition to Lee, the Litecoin Foundation has also included three other people on the board of directors: Xinxi Wang, Alan Austin, and Zing Yang all achieved by their own efforts.

What Makes Litecoin Unique?

Following Bitcoin, Litecoin is the second most popular pure cryptocurrency. This success can largely be attributed to its simplicity and obvious utility benefits.

As of January 2021, Litecoin is one of the most widely accepted cryptocurrencies, and more than 2,000 merchants and shops now accept LTC worldwide.

Its main benefits come from its speed and cost effectiveness. Litecoin transactions are usually confirmed in just a few minutes, and the transaction fees are almost non-existent. This makes Litecoin an attractive Bitcoin alternative in developing countries, where transaction fees may be the deciding factor in favor of which cryptocurrency.

In late 2020, Litecoin also released the MimbleWimble (MW) testnet, which was used to test Mimblewimble-based secret transactions on Litecoin. Once this feature is available on the mainnet, Litecoin users will also benefit from Litecoin’s greatly improved privacy and interchangeability.

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Circulating Litecoin (LTC) Coins

Like most proof-of-work (POW) cryptocurrencies, the number of Litecoins in circulation gradually increases with each newly mined block.

As of January 2021, 66,245 million LTC had been mined out of a total maximum supply of 84 million. The Litecoin Foundation recently estimated that it will take more than 100 years for Litecoin to reach full dilution (circa 2140) as the amount of LTC mined per block decreases every four years as part of the block reward halving schedule.

Around 500,000 LTC was instantly mined on the first day after the LTC genesis block was mined and Charlie Lee may also be another early Litecoin developer among the first miners.

Nonetheless, as a equitably distributed asset, Litecoin developers or Charlie Lee receive no direct profit from operating Litecoin other than whatever they earn as part of the regular mining process.

How is Litecoin Network Security?

As a blockchain-based cryptocurrency, Litecoin is secured with extremely strong cryptographic defenses making it nearly impossible to crack.

Like Bitcoin and several other cryptocurrencies, Litecoin uses the PoW consensus algorithm to ensure transactions are confirmed quickly and without errors. The combined power of the Litecoin mining network prevents double spend and various other attacks, while ensuring the network has 100% uptime.

The final word

That’s the information that the admin can convey on this occasion regarding the title above, hopefully this information can be useful and useful for many people, until we meet again in another interesting discussion.
Thank you so much and thank you very much for visiting.

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