Litecoin current price is $62.92 with a marketcap of $4.42 B. Its price is 0.61% up in last 24 hours.
- Litecoin (LTC)
- Live Price $62.92
- Market Cap $4.42 B
- Volume $309.25 M
- Available Supply 70.39 M LTC
- Rank 19
Litecoin Price Chart
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¿What is Litecoin?
Litecoin is a peer-to-peer crypto-currency that provides immediate payments to anywhere in the world and it costs almost nothing. It’s a precisely secured open source network for global payment. Any central authorization has no control over it. In short, it’s entirely decentralized.
Charlie Lee launched Litecoin in October 2011. There are similarities in the characteristics of Litecoin and Bitcoin. They seem almost identical to each other. It’s because Litecoin is a fork of Bitcoin. Charlie Lee advanced some of Bitcoin’s source code and created Litecoin. Litecoin is faster than Bitcoin.
Litecoin’s transaction process is almost 4 times faster than Bitcoin. It takes 2.5 minutes to complete the transaction process, whereas, Bitcoin take 10 minutes to do the same process. Even Litecoin’s transaction fees are less than Bitcoin.
A study says that among thousands of crypto-currencies, Litecoin has got its position in the top ten. For internet and web commerce, it’s a well-known crypto-currency. For everyday regular purchases, Litecoin is just perfect as it’s easier and cheaper than Bitcoin.
Bitcoin is better for huge transactions or purchase. Thus Bitcoin and Litecoin are both valuable and useful. Litecoin doesn’t mean to replace Bitcoin. Litecoin is for balancing the high cost for Bitcoin.
Features of Litecoin
- Litecoin is one of the most popular integrated crypto-currency.
- Litecoin ensures almost 4 times faster transaction than Bitcoin.
- Litecoin blockchain confirms transaction of higher volume easily in a shorter time than Bitcoin.
- Litecoin mining protocol distributes coins equally.
- Litecoin shows its liquidity by being always available for regular everyday purchase without any delay.
Technologies Litecoin Used
A proof-of-work algorithm, scrypt is the main technology behind Litecoin. This scrypt algorithm is a function of a sequential memory-hard. Litecoin uses FPGA devices for mining.
This new algorithm permits a number of mining processes in parallel at a time. It also eliminates the use of ASIC hardware for mining.
Litecoin Markets / Exchanges