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 >>
Lightning Network Retools For Litecoin
Join our community of 10 000 traders on Hacked.com for just $39 per month. With SegWit set to activate on Litecoin a proposed second layer for bitcoin to enable micro-transactions in the coming weeks, Lightning Network developers are celebrating the implications for their lnd Litecoin implementation. Lighting , which seeks to support bidirectional payment channels, announced the support for Litecoins new testnet with lnd, which was easy to develop once ltcd had been built out. Developers continue to review the additional software infrastructure we built to make the shift possible, and provide a brief peek into a Lightning Network that spans multiple blockchains. They add on the Lightning Community site: The activation of SegWit on Litecoin will serve as a proving and hardening ground for the Lightning Network until segwit activates on Bitcoins mainnet. And as Litecoin is very similar to Bitcoin, we can redirect our pre-production development efforts to Litecoins testnet without loss of generality for our ultimate launch on Bitcoins mainnet. Lightning developers, with Litecoin developers, forked btcd (a Bitcoin implementation written in coding language Go) and created ltcd (Litecoin implementation in Go) to be used on a Litecoin testnet network using the software infrastructure and libraries developed in btcsuite on Github. The most recent addition to the codes repository was three hours prior to this posts writing. In collaboration with the Litecoin developer community, well continue to maintain ltcd as a fully independent implementation of Litecoin, write Lightning developers. Lightning developers created a new channel faucet dedicated to Litecoins latest testnet in January. The faster block times ease testing and development a bit as scenarios such as opening, closin Continue reading >>
What Is Litecoin? | A Beginners Guide
Litecoin (LTC) is a decentralized peer-to-peer cryptocurrency that was released on October 7th, 2011 and went live on October 13th, 2011. Bitcoins little brother that doesnt get out much. These are just a few of the things you might hear being tossed around when talking about Litecoin. At a first glance, Litecoin doesnt garner much respect as a top 10 market cap cryptocurrency. However, once you get into the weeds, Litecoin presents an extremely useful and interesting application of the original Bitcoin blockchain. For all the flak Litecoin gets, its easy to overlook what it actually is, and what functions it serves. Litecoin was founded by former Google employee Charlie Lee. It was one of the first forks of the Bitcoin core client. It was proposed as a solution to some of the bottlenecks and scalability issues with Bitcoin, most notably the number of transactions that could be processed within a given time. The edge Litecoin has over Bitcoin is that the payment transaction costs are extremely low, and it is capable of facilitating payments around 4x as fast. Litecoin originally started gathering attention during its explosive growth in November 2013, where it saw a near 15x spike in price. This jump in price, however, was short-lived and Litecoin hovered around the $4 per LTC range for about two years. It wasnt until May 2017 that it started to pick up steam again during a time where generally all cryptocurrencies experienced massive growth. Litecoin has also been relatively innovative, adopting new technologies such as Segregated Witness and carrying out the first Lightning Network transaction that sent 0.00000001 LTC from Zurich, Switzerland to San Francisco, USA in under a single second. Theres a reason Litecoin receives a lot of comparisons to Bitcoin . Except for Continue reading >>
What Programming Languages Most Commonly Are Used To Create Cryptocurrencies?
It will depend on which cryptocurrency you would like to create, the type of functionality and features you are looking to have, the characteristics of the token or coin (i.e. will it be pre-mined, what type of hashing or cryptographic algorithm will be used (i.e. proof of work (POW) or proof of stake (POS) or a hybrid of both), etc. Also, it would be helpful to use a programming language that is widely supported and has a thriving and active development community; more information could be found here: top programming languages in 2015/2016, published by IEEE here , and TIOBE . Theoretically, you can use any programming language to create a cryptocurrency, but the most common languages are C, C++, Java, Python, Perl. The beauty of crypto currencies is that you can literally have access to the entire Bitcoin and Ethereum open-source programming scripts, and create your own alternate coin (altcoin), if you are interested in pursuing this approach, check out the below list; there are over 650 cryptocurrencies available today globally. These tutorials should be helpful to get you started if you have some experience and expertise in software development: Bitcoin to create your own crypto-currency digital coin List of the major cryptocurrencies and base programming languages: Bitcoin: core programming is written in C++; David Derosas guides are useful in providing a simple introduction, 1) Bitcoin Script Language ( 1 ) and ( 2 ) and 2) standard scripts being used. Programming the Blockchain in C# is a free book published on GitBook; you can download pdf, epub, mobi versions. This comes with a test console app that helps you build a blockchain app in only a few minutes: GeorgeKimionis/BitcoinLib BitcoinCore development community is very active: Programming Bitcoin Reading Lis Continue reading >>
What Is Litecoin? How Has It Beaten Bitcoins Growth To Reach All-time High?
With Bitcoins price stealing the spotlight with record-breaking heights every day, the other cryptocurrencies have found themselves in the shadows. But, that doesnt mean theyre struggling. Litecoin, the fourth largest cryptocurrency by market capitalization, has crossed $340 mark for the first time to reach an all-time high; currently, its trading at ~$309. Litecoin, often called Bitcoins younger brother, came into the scene in 2011.Charlie Lee, the founder of Litecoin, is a former Googler. Hecurrently works as the Director of Engineering at Coinbase. This decentralized altcoin uses a blockchain to maintain a public ledger of transactions. Bitcoin vs Litecoin? Whats the difference? Talking about the major differences between Bitcoin and Litecoin, the transaction speed plays a major role. Altcoin blocks can be generated 4x faster as compared to Bitcoin, so a transaction can be confirmed a lot faster. It was the first altcoin to come up with such major difference in speed. This characteristic also enables Litecoin to handle greater transaction volumes. The total number of Litecoins that can be mined is 84 million; Bitcoins total number is 21 million. Litecoin Bitcoin comparison (Image: Coindesk) Another Bitcoin vs Litecoin difference is the use of scrypt algorithm. While scryptmakes use of SHA-256 algorithm, the calculations done in scrypt are more serialized and they favor high-speed RAM instead of raw-processing power, Coindesk states . Due to this change is mining protocol, the miners that use specializedhardware to mine Bitcoin cant use the same hardware to mine Litecoin. To some extent, this has kept big players away from Litecoin, making its mining comparatively easier. Over the past 5 days, Litecoins price has witnessed3-4 times growth. This rise of Litecoin and o Continue reading >>
Litecoin Explain By Rahul Narad Archives - Knowledgesuttra
Hello guys, welcome to KnowledgeSuttra . Today we are going talk about LiteCoin (LTC) The best Bitcoin alternatives.It is the cryptocurrency where see massive growth in November 2013 within some years Litecoin is biggest and closest rivaled Bitcoin (BTC) in the digital market. Now lets try to understand the term called LiteCoin. Litecoin (LTC) is open source software project under at MIT/X11 license (TheMIT Licenseis a permissive free software license ).The creator of Litecoin is Charlie Lee and it will be written in C++ language. Litecoin (LTC) is in technical details is nearly identical to, Bitcoin (BTC).Litecoin was launched by a GitHub (originally known asLogical Awesome LLC) on October 7, 2011 then during the month of November 2013 it gets the massive growth which included a 100% bounce within 24 hours. In May 2017, Litecoin became the first of the top 5 cryptocurrencies and supply limit of Litecoin is 84,000,000 LTC. It was the origin of Litecoin now,next we talk about how Litecoin works. Litecoin uses the script algorithm is originally names s-cript. LiteCoin networks aim to process in every 2.5 minutes, and other hand Bitcoin get 10 minutes to process Litecoin gets script in its proof-of-work algorithm. Litecoin gets low transaction fees and gives you fast transaction. In this way, Litecoin (LTC) works. Now Litecoin (LTC) is in technical details is nearly identical to, Bitcoin (BTC) thats why next we talk about why Litecoin (LTC) is different from Bitcoin (BTC)? Why Litecoin (LTC) is different from Bitcoin(BTC)? Litecoin (LTC) is different from Bitcoin, How? Litecoin gets low transaction fees and give you fast transaction time and other hand bitcoin doesnt provide this type of service Litecoin is a peer-to-peer ( Point-to-point telecommunications) cryptocurrenc Continue reading >>
1. An Intro To Cryptocurrency Andlitecoin
I write on upcoming cryptotrends. My amazon store: Follow me: @ecurrencyhodler @theliteschool 1. An Intro to Cryptocurrency andLitecoin Hi there and welcome to the world of cryptocurrency! If youre reading this then youre in luck. You now have the opportunity to become an early adopter of a financial revolution that is taking the world by storm. But before you purchase Litecoin, or any cryptocurrency for that matter, it is important to understand what exactly it is that you are buying. This guide will give you a quick overview of what cryptocurrency is as well as a brief history of Litecoin. The most interesting and useful thing about blockchains is their ability to empower people in new ways. Blockchains put power in the hands of people, and take it away from large institutions. - NickTomaino Cryptocurrency is an alternative form of payment to cash, credit cards, and checks. The technology behind it allows you to send it directly to others without going through a 3rd party like a bank. This means you dont have to use your social security or credit score as collateral and allows you to be reasonably anonymous. As you can imagine, there are many exciting use cases for this. You can send money back to your family without incurring hefty international fees if youre working a different country. Merchants no longer have to worry about payment fraud or invalid checks because people can only spend what they have. This peer to peer economy is all made possible through something called blockchain technology. *Sidenote: I will use Litecoin (LTC) as my currency of choice for the rest of this article. Imagine a block like a folder with information stuffedinside. In its simplest form, blockchain is data. Its a list of recorded information called blocks strung together in a chain. T Continue reading >>
Github - Litecoin-project/litecoin: Litecoin Source Tree
Litecoin is an experimental digital currency that enables instant payments toanyone, anywhere in the world. Litecoin uses peer-to-peer technology to operatewith no central authority: managing transactions and issuing money are carriedout collectively by the network. Litecoin Core is the name of open sourcesoftware which enables the use of this currency. For more information, as well as an immediately useable, binary version ofthe Litecoin Core software, see . Litecoin Core is released under the terms of the MIT license. See COPYING for moreinformation or see . The master branch is regularly built and tested, but is not guaranteed to becompletely stable. Tags are createdregularly to indicate new official, stable release versions of Litecoin Core. The contribution workflow is described in CONTRIBUTING.md . The developer mailing list should be used to discuss complicated or controversial changes before workingon a patch set. Developer IRC can be found on Freenode at #litecoin-dev. Testing and code review is the bottleneck for development; we get more pullrequests than we can review and test on short notice. Please be patient and help out by testingother people's pull requests, and remember this is a security-critical project where any mistake might cost peoplelots of money. Developers are strongly encouraged to write unit tests for new code, and tosubmit new unit tests for old code. Unit tests can be compiled and run(assuming they weren't disabled in configure) with: make check. Further details on runningand extending unit tests can be found in /src/test/README.md . There are also regression and integration tests , writtenin Python, that are run automatically on the build server.These tests can be run (if the test dependencies are installed) with: test/functional/test_run Continue reading >>
Why Litecoin Is Vastly Underrated
By Nathan Reiff | January 4, 2018 12:40 PM EST How Coinfloor's Bitcoin Futures Differ from CME, CBOE As of this writing, there are over 1,300 different cryptocurrencies in mainstream circulation, and the number is growing all the time. As the market gets larger, it can become harderfor potential investors to distinguish between the different currencies and tokens available to them. In many cases, investors are aware of the biggest names bitcoin, ethereum, ripple but their interest level and awareness falls dramatically beyond those top performers. In a recent profile, Hacked.com suggeststhere is at least one other cryptocurrency name that is worth noting: litecoin may be one of the more underrated altcoins at this time. Litecoin has actually done quite well in recent years. (See more: Is Litecoin The Future of Cryptocurrency? ) As of January 4, 2018, it is the 8th largest digital currency in the world, with a market cap of nearly $13 billion. And yet, in spite of its growing popularity, some speculators believe litecoin has yet to reach its full potential as an alternative to bitcoin and other digital currencies. Perhaps some of the reason for this is that "many investors are still unsure what it is or how it differentiates itself" from its bigger brothers, according to Hacked.com. Litecoin is noteworthy because it emerged as a fork from bitcoin. It is modeled after bitcoin but is designed to improve upon some of the largest cryptocurrency's features.(See more: Could Litecoin Be a Better Investment Than Bitcoin? ) For example, the coin limit for litecoin is four times the size of bitcoin: 84 million versus21 million. Litecoin was designed to make transactions faster and easier; it takes about a quarter of the time to generate a litecoin block as it does one for the lea Continue reading >>
Lcoin Aids Antifragility In The Litecoin Network
Lcoin aids antifragility in the Litecoin Network Christine Chiang , 23 Jun 2017 - Blockchain , Development , Litecoin Dubbed the silver to Bitcoins gold, Litecoin (LTC ) has been riding the crytocurrency uptrend as wave after wave of bullish news has driven its spot price over US$45, or 0.017 BTC. But beyond price, the Litecoin development playground is also seeing expansion as far as its codebase is concerned. The Litecoin blockchain is becoming an experimental playground preceding Bitcoin. Despite having no blocksize congestion like Bitcoin, scaling solutions, such as Segregated Witness, and Layer 2 protocols, such as the Lightning Network, are being tested in production on its live blockchain before ever being integrated into Bitcoin . Charlie Lee, the veritable Satoshi Nakamoto of Litecoin, states that he is happy to let Litecoin go on without a lot of development. Besides Lee there is but one full-time developer on the Litecoin Foundations payroll, a developer by the alias Shaolinfry. Litecoin Core is a totally open, opensource project. Anyone can contribute based on their merits alone. People are also welcome to make their own node software. In the niche blockchain space, it is a rather common phenomenon to find wholly anonymous individuals with high technical competency work on a given project. Shaolinfry submitted the winning User-Activated Soft-Fork (UASF) proposal in the Segregated Witness (SegWit) Code Bounty held last March by Blockstream CSO, Samson Mow. It is also common to find individuals external to a blockchain project voluntarily contribute to its ecosystem, as is the case with the alternative implementation of Litecoin, called lcoin . Alternative implementations are consensus code written from scratch that mirror the networks blockchain model, featu Continue reading >>
Here's Why Litecoin Is Soaring Today
Litecoin soared more than 30% on Wednesday morning, leading a bullish charge from the world's top cryptocurrencies that has seen the market add nearly $40 billion in total capitalization over the past day alone. Litecoin soared more than 30% on Wednesday morning, leading a bullish charge from the worlds top cryptocurrencies that has seen the market add nearly $40 billion in total capitalization over the past day alone. According to CoinMarketCap.com, each of the top 10 largest cryptocurrencies by way of market cap have gained within the last 24 hours. In addition to Litecoins dominant surge, bitcoin has moved nearly 7% higher, Ethereum has added almost 5%, and Ripple has climbed roughly 3.5%. Litecoin is leading the charge thanks to the announcement of the cryptos first-ever hard fork. A hard fork in the cryptocurrency world refers to a change in the rules of the blockchain infrastructure that is not recognized as valid by the older software. Hard forks are similar to stock splits in that they are designed, in part, to alleviate barriers to entry for new users. Once Litecoin hits block 1371111which is expected to happen this Sunday afternoonthe newly-minted Litecoin Cash Foundation will initiate its split from the existing Litecoin blockchain. Those holding Litecoin at the time will automatically receive 10 new Litecoin Cash tokens for every one Litecoin they own. The foundation said that its goal for the fork is to increase the block speed at which the network can process transactions. Litecoin Cash will use the proof-of-work mining method, which tends to be more energy intensive. Proof-of-work proponents argue that this method is more secure than what is currently used in the existing Litecoin network. In a press release announcing the fork, the Litecoin Cash Foundat 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 >>
Litecoin Founder Sells All His Litecoin But Promises Not To Leave
Litecoin Founder Sells All His Litecoin But Promises Not To Leave Charlie Lee, founder of the cryptocurrency Litecoin (LTC) has sold all his LTC, but will devote himself to growing the Litecoin platform Litecoin (LTC) founder Charlie Lee announced today on Reddit and Twitter that he has completely unloaded all his Litecoin holdings via selling and donation. He wrote on Reddit: For the first time in 6+ years, I no longer own a single LTC thats not stored in a physical Litecoin. (I do have a few of those as collectibles.) According to his Reddit post, the amount Lee sold was a small percentage of GDAXs daily volume, and it did not crash the market. Please read the whole post. Reddit thread is here: pic.twitter.com/VoIlA0Xjj3 Charlie Lee [LTC] (@SatoshiLite) December 20, 2017 According to the announcement, Lee decided to sell all of his Litecoin because of the potential for conflict of interest, given the influence his personal statements can have on the coins price. He explained that by selling all his LTC, he can fully separate his own opinions and actions from the performance of the cryptocurrency, stating: whenever I tweet about Litecoin price or even just good or bads news, I get accused of doing it for personal benefit. Some people even think I short LTC! So in a sense, it is a conflict of interest for me to hold LTC and tweet about it because I have so much influence. Lee did give some clue regarding his future, reassuring users that he is in no way abandoning his creation. With his own personal finances stable, he plans to devote himself to Litecoin, and expects to meet with a variety of other rewards beyond the price appreciation of his coins: Dont worry. Im not quitting Litecoin. I will still spend all my time working on Litecoin. When Litecoin succeeds, I will Continue reading >>
Ethereum Vs. Litecoin: Which Crypto Is Best? | Etf Trends
Twitter Facebook LinkedIn Google+ Pinterest Tumblr Email Among cryptocurrencies, Bitcoin receives the most media headlines but did you know that less well known Bitcoin alternatives might be faster and have more functionality? Two of the leading contenders are Litecoin and Ethereum. When you compare Litecoin vs Ethereum, which cryptocurrency is best? Along with Bitcoin, Litecoin and Ethereum have grown like mushrooms in recent years towards multi-billion dollar market capitalizations but dont let that fool you into thinking either cryptocurrency is a sure bet. Before speculating on either Litecoin or Ethereum, you should consider how comfortable you are owning highly volatile digital assets. In virtually the blink of an eye, the prices of cryptocurrencies have been known to swing by double digit percentages. Over time, they have created enormous wealth for some early adopters but prices can plummet so fast and soar so quickly that you may feel like you are on a rollercoaster ride if you track prices daily. With that consideration in mind, which cryptocurrency is best? Is it the relatively new cryptocurrency, Ethereum, which launched in 2015 and quickly rose to second in the ranks behind Bitcoin? Or Litecoin, the more established digital currency, that has been around since 2011? Perhaps the biggest difference between Litecoin and Ethereum is that the former is a cryptocurrency only while the latter, Ethereum, is an open-source, blockchain-based distributed computing platform that can support smart contract functionality. Thats a complicated way of saying that Ethereum not only makes a cryptocurrency called ether possible, but can also support the launch of new cryptocurrencies and make it possible to crowdsource funding for new projects. The simplest way to think about Continue reading >>
What Is Litecoin? - Invest In Blockchain
written by Jacob Bushmaker October 10, 2017 Litecoin has quickly risen from obscurity to become one of the worlds most popular, well known and most valuable cryptocurrencies in the world. According to Litecoins website , the currency is described as: Apeer-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. Simply put, Litecoin is a low cost, decentralized cryptocurrency used to pay for everyday items instantly. Litecoin ranks as one of the top five most valuable cryptocurrency in the world by market cap, behind Bitcoin, Ethereum, Ripple and Bitcoin Cash.As of writing this article, Litecoins market cap is nearly 2.8 billion dollars, with over a 1100% year to date return on investment. Litecoin was developed by Charlie Lee while he was still working for Google and went live on October 7th, 2011. This makes Litecoin one of the oldest cryptocurrencies. The source code itself was a fork off of the Bitcoin Core Client with a few notable changes and improvements such as decreased block generation time, utilizing different hashing algorithms and decreasing the time needed to process payments. More on the differences between Bitcoin and Litecoin can be found later in this article. Charlie left Google in 2013 to work for Coinbase full-time. Coinbase now is one of the largest cryptocurrency exchanges in the world. Charlie has since left Coinbase and now works full-time on Litecoin. In September of 2017, Litecoin hit a record high of nearly $100USD, but has since dropped around 50% after Chinas regulatory changes regarding cryptocurrencies. For further reading on these topics see: China Bans ICOs (Or Do They? ) for more inform Continue reading >>