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  • ChatGPT Pov about Litecoin December 8, 2022
    I asked the Ai model ChatGPT why is Litecoin better than Bitcoin and this was the answer: It's difficult to say definitively whether Litecoin is better than Bitcoin, as this is a subjective question and the answer will depend on individual preferences and priorities. Both Bitcoin and Litecoin are decentralized cryptocurrencies that use blockchain technology […]
    /u/dinoelhadj
  • Mimblewimble Progress Update Thread - November December 8, 2022
    submitted by /u/CBDoctor [link] [comments]
    /u/CBDoctor
  • What about mweb support so far? December 8, 2022
    I used the search here but could not get a decent answer so....It has been many months now since the start of the mweb support. But still it is almost nowhere possible to use the mweb transactions or addresses. What is the current status? Why is almost nobody supporting mimblewimble? Speaking for me I was […]
    /u/frunf1
  • Trying to use Litecoin Core for MWeb… Anyone have the blockchain? December 8, 2022
    So the old bootstrap.dat guides are outdated in 2022 standards, or the core client was updated. I cannot get it to work and I don’t want to leave my computer on to download a decade’s worth of data. Anyone help me out? I wanna test out Mimblewimble transactions. submitted by /u/iPhone40 [link] [comments]
    /u/iPhone40
  • Litecoin now does 27% of all payments on BitPay. 66% of Bitcoin's share. December 7, 2022
    submitted by /u/litecoin-master [link] [comments]
    /u/litecoin-master
  • I made a Litecoin API December 7, 2022
    just published my first API on rapidapi marketplace so it becomes easy for any developer to make his litecoin wallet app using just this api! Take a look: https://rapidapi.com/dinoelhadj/api/litecoin-wallet ​ Any suggestions are welcome submitted by /u/dinoelhadj [link] [comments]
    /u/dinoelhadj
  • Here are 11 reasons why #Litecoin is #1 and # 2 compared to #Bitcoin. December 6, 2022
    submitted by /u/litecoin-master [link] [comments]
    /u/litecoin-master
  • What is the best app to use litecoin as a means of exchange? December 6, 2022
    What is the best way (ie. Most reliable, safest, fastest, easiest) to use litecoin as a means of exchange? For example to buy eggs from my neighbor without using cash. Or make a purchase from Facebook marketplace or Craigslist without cash. Or to purchase a cup of coffee. Thank you in advance! submitted by /u/Maleficent-Shift8043 […]
    /u/Maleficent-Shift8043
  • Possible to receive LTC via segwit, and then send via native segwit? December 6, 2022
    if i received LTC in my ledger wallet via segwit, can i send that same LTC to a wallet that only accepts via Native segwit? submitted by /u/dayofshah [link] [comments]
    /u/dayofshah
  • The next LTC halvings, this is what LTC's scarcity looks like December 6, 2022
    submitted by /u/kys_ka [link] [comments]
    /u/kys_ka

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!