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  • I have my "Passphrase", but how do I recover my wallet with that? January 20, 2021
    So, a few years back I must have set up a LTC wallet and wrote down the following "Litecoin Desktop Wallet - Passphrase = " followed by a passphrase that I clearly created myself... It's like a super long password of all my favorite passwords combined. I no longer have the PC. So, I don't […]
    /u/DoubleOhhShit
  • I received an email from LiteCoin which I never Knew that site January 20, 2021
    Hello, I posted another post before, but I want to make another in case it wasn't clear. I received 2 emails which the first is the verification which I deleted and the second being the receipt that was sent to me. I checked my email and it didn't seem like it was compromised recently and […]
    /u/YuudaPoi
  • best way to mine litecoin? January 20, 2021
    I have an nvidia graphics card and was looking to mine some litecoin, was wondering if you guys could offer some pointers on how you mine/store your litecoin submitted by /u/GroundbreakingAd6570 [link] [comments]
    /u/GroundbreakingAd6570
  • Accidentally sent Litecoin to an XMR address through my Newton wallet January 19, 2021
    Hello. I made an incredibly stupid mistake of sending 0.43 LTC on my Newton wallet to an XMR address in Cake Wallet. Newton didn't recognize the address as not being an actual Litecoin address (although I can't blame it, I should have recognized it...). The transaction says "pending transfer." I am wondering, is there any […]
    /u/arcticspacemann
  • New to mining, looking at where I can start mining. Please share, thanks! January 19, 2021
    Hey I'm new to mining. I currently have a pretty decent GPU that I want to dedicate mining Litecoin. I have been going up and down the internet with a friend to look at how and where we can mine Litecoin. submitted by /u/j4life9 [link] [comments]
    /u/j4life9
  • What do you guys think about privacy or LTC, should it be on Layer 1 or Layer 2 ? January 19, 2021
    Referring to this article about privacy development around Litecoin. Share your thought on which layer privacy should be implemented and why ? ​ View Poll submitted by /u/boogaav [link] [comments]
    /u/boogaav
  • Book recommendations to learn and understand this coin? January 18, 2021
    submitted by /u/Fabianb1221 [link] [comments]
    /u/Fabianb1221
  • ??? January 18, 2021
    submitted by /u/dmitry_vishensky [link] [comments]
    /u/dmitry_vishensky
  • Grayscale continues to accumulate 18/01 - Data visualised January 18, 2021
    ​ https://preview.redd.it/f8p4x6qlz5c61.png?width=1400&format=png&auto=webp&s=6e4dc70bbd95be1f52e1463403c92c791393c36a ​ -Big BTC buy, highest we have seen in a while. -ETH exposure consistently being lowered -LTC consistently being accumulated -Surprising amount of BCH bought, biggest ever in a single day. submitted by /u/LetsBeJolly [link] [comments]
    /u/LetsBeJolly
  • This quarter will be massive for LTC January 18, 2021
    submitted by /u/LetsBeJolly [link] [comments]
    /u/LetsBeJolly

What Is Litecoin ?

Litecoin is a decentralized peer-to-peer and open source cryptocurrency network released under the MIT/X11 license. Litecoin offers faster transaction and improved storage efficiency than bitcoin. It was launched in 2011 to fix mine with massive computer horsepower experienced in bitcoin. Litecoin can be mined in any lesser computer, and it is 7.5 faster than bitcoin in producing blocks to the blockchain. In fact, it mines with an average of 2.5minutes per block. This fast transactional functionality has made Litecoin, the first choice for miners who want to make more money.
It uses a decentralized blockchain technology meaning, it cannot be controlled by any central authority, and it is excellent payment platform to transact digital currency.

Regardless of what people say, Bitcoin is always the first to scoop the headlines, virtually taking the lead in both good and what seems to be wrong. The early Bitcoiners are smiling to the bank whenever you criticize of what is not going right in bitcoin.

Last month, a cryptocurrency which regarded its self as “the silver to bitcoin’s gold’ made an all-time high of 2000% in the market capitalization. That cryptocurrency is called Litecoin. The Litecoin team should be seeing it as gold not silver after such an unprecedented surge in value. With quickest transaction time in cryptocurrency blockchain, improved network and less volatility, Litecoin should be aiming to be among the top two in cryptocurrency market.

 

TEAM

Litecoin was founded by Mr. Charlie Lee, a cryptographic expert who brought his wealth of experience to make Litecoin, what it is today.

He is being assisted by other Directors in the persons of Mr. Xinxi Wang and Mr.Franklyn Richards. I will not forget to mention these two developers who have worked tirelessly to make Litecoin, the fastest blockchain transaction platform. They are losh11 and fancycedar.

Practical Uses of Litecoin

  • Litecoin is a payment processor to many firms such as eGifter, Sean’s Outpost, KnCMiner, Ellenet
  • Some banks use Litecoin’s blockchain platform for transactions
  • It is used for payment solutions for e-commerce.
  • You can pay other users who are using Litecoin with its’ tokens.

 

Mining Of Litecoin

Mining LTC is cost-effective because of low computational power it uses.It can be mined in minor hardware or computers. Litecoin uses Script Proof of Work to verify transactions, and every transaction produces new blocks which are added into the Litecoin’ blockchain. A reward is given to the miner whose effort in solving the computational puzzle led to the addition of more blocks.

Litecoin and Bitcoin are different in the usage of algorithms when hashing. Bitcoin uses the popular SHA-256 which is known for its’ complexity and high computational power consumption. On the other hand, Litecoin uses a script which is a memory based algorithm and uses less computational power to mine.

Notes to Invest

Litecoin is the cheapest amongst the top three: Bitcoin, Ethereum, and Litecoin, with the price hovering around $70.I think, what drives Litecoin presently is the relatively low price, and I feel, they management should take advantage of that.

LTC is a currency, and it doesn’t act like a stock or bond, When buying shares of Litecoin, you are only swapping your money with Litecoin currency. Litecoin has the potentials to hit it big in the coming years based on the steady increase(In July 2013, 1 LTC = $2.80 and now,1LTC= $70) in the market cap,

MUST READ!

You need to note that, cryptocurrency investment is speculative and unpredictable, and it involves risks. The market is full of uncertainty, susceptible to attack and capital loss. There are many parameters one needs to check before investing. Don’t invest only based on what you have read here, but invest based on the fact that, you have sought advice.
I wish you success!