The Litecoin crypto currency is a peer-to-peer decentralized digital currency which is based on the Bitcoin codebase. It has open source software released under the license MIT/X11. Litecoin is earliest of altcoins from starting October 2011. The Litecoin main chain shares the Bitcoin codebase, but it is slightly modified comparing initial release. The Litecoin crypto currency transaction fees are very low, faster mining difficulty retarding and faster transactions confirmations.
Litecoin crypto currency is divided into 8 decimal places.
The units for small number of Litecoins are Photons, milliLiteCoin(mLTC), equal to 1/1000 Litecoin, equal to 1/100,000 and Litoshi is the small possible division. It is named in homage to Bitcoins small denomination Satoshi which was representing 1/100 000 000 (one hundred millionth) Litecoin. Litecoin crypto currency is one of the most popular crypto currencies in world.
Litecoin crypto currency has served as a testing ground for various innovative features that will eventually make the way into the main Bitcoin network. It is the first coin to implement segregated witness that is a security feature which makes it impossible for one party to modify another person’s transaction. It is completed the first Lightning Network transaction to speed up the generation of blocks.
Litecoin was one of the first alternative crypto currencies to gain popularity.
Litecoin crypto currency creator, Charlie Lee, started to create a more light weight crypto currency with faster transaction times. Finally he made it Litecoin. Litecoin is also avoids the practice of “premine,” in which creators of new projects mine coins before they are released. Originally, this practice was intended to reward creators and fund project development.
Although most exchanges offer built-in custodial wallets, it is best to use a private wallet to protect your funds. To store litecoin crypto currency, use software or hardware wallets. Software wallets are more convenient, but do not offer the security like hardware wallet. You should use software wallets instead of hardware wallets if you are storing smaller amounts. However, if you are using a software wallet to store your funds, make sure to use a secure network.
Litecoin crypto currency is one of the most popular crypto currencies for some reasons. Firstly, the price of Litecoin is low compared to other coins makes it affordable to use. Secondly, it is widely supported by the crypto currency payment processors. Lastly, it is highly tradable crypto currency and it can be traded on major crypto currency exchanges like binance, coinbase, XT.com etc. This makes convenient to users that who can used to move funds between different platforms without paying large transaction fees.
You can buy litecoin crypto currency via credit or debit cards in major exchanges like coinbase, binance etc.
There are some peer-to-peer exchanges for Litecoin that is for. Many VPN providers also accept the Litecoin. Litecoin was helped by increasing its exchange availability. And the liquidity in early exchanges likes BTC. The aggregate value of Litecoin experienced massive growth that includes a 100% of leap within 24 hours during the month of 2013 November.
Charlie Lee suggested the merge mining that was Dogecoin with Litecoin.
The Dogecoin community is large in the early 2014. Dogecoin started merge mining with Litecoin in September 2014. It is increased security for Dogecoin and permanent block subsidy which was previously not available with the Litecoin mining. Litecoin became the first top 5 crypto currencies to adopt the segregated witness. The first lightening network transaction was completed in the year 2014 May through Litecoin crypto currency.
Paypal was also added the ability for the users to purchase a derivative of Litecoin crypto currency along with the Bitcoin, Bitcoin cash and Ethereum that which could not withdrawn or spent as a part of its crypto feature. A fake press published on Google like new wire announcing a partnership between the Litecoin and Walmart in September 2021. This is the reason that Litecoin was increased upto 30%. Litecoin was reached marketcap of $8.7 Billion in the year 2022 in February.
