Litecoin Cryptocurrency: A Complete Guide For Absolute Beginners
Litecoin Cryptocurrency: A Complete Guide for Absolute Beginners By: Sudhir Khatwani In: Cryptocurrency Last Updated: The rush to collect cryptocurrencies continues well into 2017. If you are new to the crypto space, you might have heard of only Bitcoin . <br /> Can't load widget<br /> But there are hundreds of altcoins(or alternative cryptocurrencies) other than Bitcoin. Each altcoin comes up with its own unique technology and vision to change the world. One such cryptocurrency goes by the name of Litecoin. Fun fact: Litecoin prices surged more than 1000% in last one year. Litecoin is the worlds first altcoin. Like Bitcoin, Litecoin also exists on the internet as digital money. No one can feel, touch, or mint it. But there are still fundamental differences between both currencies. What Is Litecoin Cryptocurrency Used For? Litecoin is a cryptocurrency like Bitcoin, but it is based on an entirely different protocol. It was conceived to act like pure digital money. Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is also open source, decentralized, and backed by cryptographic math to secure transactions. Litecoin was not made to compete against Bitcoin, but instead to act as a complimentary payment solution alternative. Think of Litecoin as the silver to Bitcoins gold. Litecoin was created on 7th Oct 2011 by Charlie Lee, an ex-Google employee. Litecoin was designed to complement Bitcoin by solving problems like concentrated mining pools and transaction timings. Charlie is very active on Twitter , and you can read his blog here . Litecoin came from Bitcoins core code with some modifications. Charlie Lee modified the code and protocol in the way he considered best in orde Continue reading >>
Bitcoin $2500 ----litecoin Severely Undervalued? ----my Analysis
Litecoin has 4x more coins than bitcoin. Same protocol, same type of algorithm that is heavily encrypted, only difference, supply limits. Lets not also forget Litecoin activated SegWit (faster transaction speeds and confirmation times) just last month. See the major disparity? If you take bitcoins current price and divide it by 4, Litecoin should be worth $625. But lets use the most conservative math. If you were to take Litecoins' Current Price and multiply it by 4 you'll get an evaluation of $132. Which would bring its Market Cap to $7,128,000,000 Billion. Still this would be under Bitcoins' market cap and Ethereum. Now if your an investor, it doesn't take much brain power to ask yourself, if I want to make an investment and let say my goal is to double my money, which coin has the better potential to double my money? In order for Bitcoin to double my investment, it would have to go up another $2,500 vs if I were to invest into Litecoins', it only has to go up another $33.00. Which can happen faster?........ This is self explanatory. Litecoin has a strong development team, working on numerous projects. Has been the first coin in the space to really implement real change into a blockchain. I'm referring to when Litecoin activated SegWit just last month, it was a success! This has allowed Litecoin to be scalable to the masses and give users faster transaction speeds/confirmation time. It has also allowed room for it to add unique features such as privacy and the lightning network. Now today, we learned Bitcoin is following suit, which may take 6 months to fully implement. The Bitcoin community has been in a battle for quite some time to figure out in which direction it wants to go. Whether they want to stick with Bitcoin Core, move to Bitcoin Unlimited, or SegWit. It l Continue reading >>
Bitcoin Cash Explication Litecoin Supply Limit
Bitcoin Cash Explication Litecoin Supply Limit If July's halving mirrored the last one, the hashrate could drop to approximately 1. This loss serves as a punishment for failure to maintain an active node. Bitcoin Cash Explication Litecoin Supply Limit 26, at Sell walls are whales trying to suppress the price of a currency, usually in order to buy up more of it themselves. If a single entity hereafter a monopolist took control of the majority of txn verification resources, he could use these resources to impose conditions on the rest of the network. High tech banking services freely available to everybody? Contrast this with the fiat banking system: So I definitely recommend checking out the pool that you plan out joining before you join it. They have it up and running under test scenarios, and have a working mobile wallet, working in a testnet as. Agree with your other points btw, was just trying to re-inforce the point that hardly anyone can understand people en masse without constructing What Is The Value Of Cryptocurrency Who Controls The Cryptocurrencies simulations. Never understood why for ever every client needs the whole blockchain. How Can I Buy Bitcoin? I just heard back from gdax. That means you short-sold 10 coins. If you are serious about mining litecoins, one option is to simply mine bitcoins with hardware like the Antminer S7 and convert the earned bitcoins to litecoin. I watched this person re-position this block Usb Bitcoin Mining Device Litecoin Difficulty Increment times over the course of the day. Charlie Lee, Director of Engineering at Coinbase and Litecoin's Satoshi Nakamoto, offered the following theory as to why the hashrate didn't really drop:. Sometimes the premium works in an investors favor. If you look at a the usual orderbook graph those s Continue reading >>
What Is The Difference Between Litecoin And Bitcoin?
What is the Difference Between Litecoin and Bitcoin? In 2009, Satoshi Nakamoto launchedbitcoin as the world's first cryptocurrency. The code is open source, which means it can be modified by anyone and freely used for other projects. Many cryptocurrencies have launched with modified versions of this code, with varying levels of success. Litecoin was announced in 2011 with the goal of being the 'silver' to bitcoin's 'gold'. At the time of writing, Litecoin has the highest market cap of any mined cryptocurrency, after bitcoin. Here's our guide to show you the crucial difference between bitcoin and litecoin. Just like bitcoin, litecoin is a crytocurrency that is generated by mining. Litecoin was created in October 2011 by former Google engineer Charles Lee. The motivation behind its creation was to improve upon bitcoin. The key difference for end-users being the 2.5 minute time to generate a block, as opposed to bitcoin's 10 minutes. Charles Lee now works for Coinbase , one of the most popular online bitcoin wallets. For miners and enthusiasts though, litecoin holds a much more important difference to bitcoin, and that is its different proof of work algorithm. Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing. It is this characteristic that has given rise to the intense race in ASIC technology, and has caused an exponential increase in bitcoin's difficulty level. Litecoin, however, uses the scrypt algorithm originally named as s-crypt, but pronounced as 'script'. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. As a result, scryp Continue reading >>
What Is Litecoin? Litecoin Vs Bitcoin, Which Wins?
Jordan Tuwiner Last updated July 13, 2017 Litecoin is a cryptocurrency just like Bitcoin. It can be sent globally around the world almost instantly, for very low fees. Litecoin was actually one of the first forks of Bitcoin. Its creator, Charlie Lee, was a former Google employee and created Litecoin when he got into cryptocurrency. Litecoin has value for many of the reasons Bitcoin has value. The main reason Bitcoin has value is because its very useful and scarce. Litecoin is the same. Only 84 million LTC will ever exist, which creates the scarcity. Litecoin is also very useful because it can be sent anywhere in the world instantly for very low fees. Litecoin mining is much, much different than it used to be. At the time of writing, Litecoin is about $32. In its early days, Litecoin was very easy to mine because it was cheap and there was no competition. Litecoin is one of the most popular cryptocurrencies, so its actually gotten pretty easy to buy compared to many of the other small altcoins. Coinbase is the easiest way to buy bitcoins in the USA, Europe, UK, Australia, and Canada. You can buy with either a credit card or bank account. If you live in South America, Africa or Asia then the easiest way is to buy bitcoins then convert using Changelly. The number of Litecoin wallets are actually somewhat limited. Bitcoin is still the only cryptocurrency that people really use on a daily basis. So, the demand is not strong for many Litecoin wallets so not many exist. Probably the best, most feature packed Litecoin wallet is Electrum LTC . It is a fork of the popular Bitcoin wallet Electrum. It is open-source software and can be used on Mac, PC, or Desktop. If you want secure storage of your LTC, we recommend using a hardware wallet like the Ledger Nano S or the TREZOR. Tho Continue reading >>
What Is Litecoin?
Home Cryptocurrency Litecoin What Is Litecoin? What Is Litecoin? Mohan Garikiparithi Profit Confidential 2017-12-03T06:00:03Z 2017-12-04 06:36:21 what is Litecoin? Litecoin history Litecoin market cap Litecoin chart who invented/created Litecoin what is ltc? Litecoin value Litecoin vs Bitcoin Litecoin vs Ethereum Litecoin advantages Litecoin limitations ltc future value cryptocurrency market An overview of what is Litecoin (LTC), including its launch, its quick ride up and down the cryptocurrency charts, and why its set to reach new highs. Litecoin [caption id="attachment_113940" align="alignleft" width="300"] iStock.com/allanswart[/caption]With hundreds of cryptocurrencies cropping up, it's not surprising that cryptocurrency is becoming the talk of the Internet. Even as you read this, there are more than 1,300 cryptocurrencies out there. And while not even one of those cryptocurrencies has garnered the popularity of the leader of the packBitcointhere are a few that are vying for second place. One of them is Litecoin (LTC). Although it has been in the mix for quite some time now, the question What is Litecoin? keeps popping up often enough to warrant a Litecoin Wiki of its own. Litecoin is a cryptocurrencyan Internet currency that enables a person to conduct an almost-instant and almost-free financial transaction with another person, anywhere in the world. Litecoin is an open source, worldwide payment network that does not have any central authorities. It is released under the MIT/X11 license and the creation and transfer of coins are facilitated by an open source cryptographic protocol.Because this fully decentralized network is secured by mathematical algorithms, it allows individuals to be in complete control of their finances. In fact, ifyou look at the Litecoin hi Continue reading >>
Supply Limit If Litecoin How To Start Into Cryptocurrency
What Happens When A Coin Reaches The Maximum Supply???
What happens when a coin reaches the maximum supply??? What happens when a coin reaches in circulating the max of his own supply Example: lite coin have a mx supply of 84,000,000 nowdays the circulating are 50,601,982, so what happens when the circulating will be equal as the max supply. Does the prices of the coin begins to grow up?? 12+ exclusive games The Bitcoin Casino by Primedice Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here. What happens when a coin reaches in circulating the max of his own supply Example: lite coin have a mx supply of 84,000,000 nowdays the circulating are 50,601,982, so what happens when the circulating will be equal as the max supply. Does the prices of the coin begins to grow up?? If a coin max its supply in the market and if its all supply is circulating in the market then it is not good because there is a chance for the coin to have a low price or experience a dumping scenario because people who have a lot of money or bitcoins will take advantage of that maximum supply and buy almost all of them and if they have the most of the supply then they will manipulate the market which is not fair for us. Don't trade altcoins with maximum supply in the market unless you have a lot of bitcoins to use. well i am not aware of how all the altcoins work but those that are similar to bitcoin will work like this: they never reach the maximum supply because the max supply is fixed and it is being distributed by giving the miners the new generated coins in form of block reward and that block reward is halved every fixed number of blocks. for example with bitcoin it started with 50 then 25 > 12.5 > 6.25 > 3.125 > 1.5625 >0.78125 and so on and since it is half of prev Continue reading >>
Comparison Of Cryptocurrencies
The cryptocurrency market is explosive which currently serves hundreds of currencies. Almost all of them are obvious scamsincluding many which purport to have a large market cap. This article aims to list only the most relevant cryptocurrencies in terms of novel technological advancements or strong engineering teams, or due to widespread awareness thereof. Direct, low-level scams should not be listed here. An altcoin based on Bitcoin's blockchain with replay protection and an increased block size limit of 8MB. An unusual emergency difficulty adjustment algorithm causes significant periods of hyperinflation. First cryptocurrency that implemented Satoshi's BitDNS idea. Essentially the first real altcoin. Still under active development. First merged-mined altcoin. Introduced the X11 algorithm, which is just a composite function of multiple hashing algorithms. Had a significant failure mode in the beginning which equated to a majority premine by a small number of Amazon EC2 customers. This means their Master Node algorithm has been in a failure mode from the beginning. Majority premine sale. Source of the ICO bubble. Multiple client implementations which fail against each other in terms of consensus errors regularly. Requires multiple months of time to sync to eth blockchain. Contract-building tools interpret input incompatibly. Continue reading >>
What Is Litecoin
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin . The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future. As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items. Miners are currently awarded with 50 new Litecoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks). The Litecoin network is therefore scheduled to produce 84 million Litecoins, which is 4 times as many currency units as Bitcoin. Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending Litecoins . This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments. Litecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for indepen Continue reading >>
Bitcoin Investors: You Need To Watch Litecoin
Bitcoin Investors: You Need To Watch Litecoin Bitcoin and cryptocurrency continues to see its value and price rise dramatically. Bitcoin remains king of this space, but as adoption comes it has some shortcomings that might hold it back. Litecoin, based on the same technology, but faster and cheaper can emerge as the more usable, and thus more valuable, currency. The crypto world continues to grow. The total market cap of crypto currencies now stands above $160 billion, up from near $90 billion at the start of August and up from $66 billion in mid-July during investor anxiety about the Bitcoin hard fork and/or a correction from the enormous rise in early 2017. At the head of the growth is Bitcoin, the original currency, and still the predominant one - holding a near 47% share of the total market cap, despite there being over 800 currencies now listed as open for trading on a variety of exchanges. Bitcoin itself has surpassed $4600 this month, double where it was trading at during the mid-July lull described above. Bull analysts see it hitting $5000 in the near future, while others are calling for $7500 or even $10,000 by years end. There are a few items that could hold Bitcoin from hitting that price point, including regulatory affairs from the SEC and other governing bodies. However, I dont see that as the main threat to Bitcoins adoption curve. Instead, that issue is its speed, cost, and anonymity. In analyzing these, and especially in the first two items, it becomes apparent that Litecoin - often called the silver to Bitcoins gold - is a potent adversary to Bitcoin and one that could be poised for global domination. First, a few fundamentals. Litecoin currently trades around $62, with a market cap above $3 billion. As such, its the 5th largest coin in the crypto worl Continue reading >>
How To Buy Litecoin (ltc)
Its a bit harder to buy Litecoin with fiat currencies, such as American dollars, than it is to buy bitcoin or other cryptocurrencies. There simply arent as many brokers or exchanges that support it at least for now. While youll need to look a bit harder, you can still find different ways to buy. Although its not quite as widely available as bitcoin, you can buy Litecoin in the same way as other cryptocurrencies. Peer-to-peer. Buy Litecoin from individual sellers. For example, look for people selling LTC on litecoinlocal.net, or trade bitcoin for Litecoin at Paxful . From a broker. Send money to a cryptocurrency trader to buy Litecoin. For example, you might look at Coinmama or 247exchange . On an exchange. Buy Litecoin on the open market at an exchange, or trade other cryptocurrencies for it. For example, investigate Changelly or Indacoin . Youll generally also need to have a Litecoin compatible wallet ready before you buy. Wire, credit card, debit card, cash deposits, prepaid vouchers You can buy Litecoin with PayPal on Cryptex24. Alternatively, you might buy bitcoin with PayPal via VirWox exchange, and then trade bitcoin for Litecoin elsewhere. You can buy Litecoin with a credit card on Coinbase, Indacoin, Coinmama and 247exchange. You can buy Litecoin with cash in various forms, at different places. Coinmama. You can pay cash over the counter at a Western Union for transfer. Litecoinlocal.net. You can arrange a cash payment when buying peer to peer. Cryptex24. You can pay cash over the counter at a money transfer service. 247exchange. You can make a cash deposit at a bank or pay cash for a prepaid voucher that can be used to buy Litecoin. To pay for Litecoin with cash, youll want to look for platforms that accept cash deposits, prepaid cards or local peer-to-peer tr Continue reading >>
Litecoin Definition | Investopedia
Launched in the year 2011, Litecoin is an alternative cryptocurrency based on the model of Bitcoin . Charlie Lee, a MIT graduate and former Google engineer, is Litecoin's creator. Litecoin is based on an open source global payment network that is not controlled by any central authority. Litecoin differs from Bitcoins in aspects like faster block generation rate and use of scrypt as a proof of work scheme. Litecoins were launched with the aim of being the "silver" to Bitcoin's "gold," and have gained much popularity since the time of inception. Litecoin is a peer-to-peer internet currency. It is a fully decentralized open source, global payment network. Litecoin was developed with the aim to improve on Bitcoin's shortcomings, and has earned industry support along with high trade volume and liquidity over the years. The broader differences between the two cryptocurrencies are listed in the table below. Continue reading >>
Bitcoin Vs Ether Vs Litecoin Vs Ripple: Differences Between Cryptocurrencies
By now, you've no doubt heard about the massive bitcoin rally this year . And you may also have read about other cryptocurrencies, such as litecoin and Ethereum , surging too. But there are over 1,300 cryptocurrencies in existence. And while bitcoin dominates the market, several other digital currencies are making waves. CNBC has created a brief guide on how the top five cryptocurrencies by market capitalization, or value in the world, have performed so far this year, and what the differences are between each of them. All market cap and year-to-date rise figures are accurate as of December 14. But because of the frenzy around bitcoin, transaction times have spiked, which could go against the original aims of the cryptocurrency. While Nakamoto referred to bitcoin as electronic cash, many experts have called it "digital gold" and said it could be a long-term store of value. At the moment, some retailers in Japan have begun accepting bitcoin as payment and there are even instances of real estate firms accepting it too . But there is little evidence of widespread use of bitcoin for payments. Ethereum is the name of a blockchain company that has created the digital token ether. But Ethereum and ether are now used interchangeably to refer to the cryptocurrency. Ether is backed by a blockchain, much like bitcoin, but the technology is slightly different and aimed at a specific use case: smart contracts. Take a trade finance deal, for example. This relies on each party in the deal having a paper or digital copy of the contract and needing to update it individually. It's arduous and prone to error. But a smart contract is one that is written in code into a blockchain. Once the terms of the contract are met by each party, a deal will be executed. Many major organizations are exp Continue reading >>
Litecoin Maximum Supplylimit
Fedoracoin Project Tech Governance, Performance & Big data engineer, Data visualization engineer, Coder, Blogger and IOT, AI & Cryptocurrency enthusiast. Litecoin has specified that their maximum supply will be four times that of Bitcoin. Therefore, if Bitcoin limit is 21 million then Litecoin limit is going to be 84 million. So where does this difference come from, if GetBlockSubsidy function in Litecoin & Bitcoin is the same as shown below. Suggestion: Litecoin team need to update the comments in their code. The difference lies in the value of consensusParams.nSubsidyHalvingInterval, which is found in the chainparams.cpp file for both the coins as shown in the code snippet below. For Bitcoin, the halving happens at block # 210000 and for Litecoin, it happens at block #840000. With a little help from excel, you can work out maximum supply of Litecoin when reward approaches to zero as shown below. If you enjoyed this post, feel free to send me a tip in TIPS, Ether or Litecoin! TIPS address: EQqpdiLepSN2XDF5KdULPpdDuRwdugpdmg Continue reading >>