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What is Litecoin? (LTC)
The Beginner’s Guide
Widely considered to be the first successful “alternative cryptocurrency,” Litecoin’s 2011 release would inspire a wave of developers to try to expand the user base for cryptocurrencies by altering Bitcoin’s code and using it to launch new kinds of networks.
So, while Litecoin was not the first cryptocurrency to copy Bitcoin’s code and modify its features, it is one of the more historically significant, establishing a robust market over time even as it has sometimes faced criticisms that it lacks a clear value proposition.
For example, Litecoin would first differentiate its technology by reducing the amount of time it took for new blocks of transactions to be added to its blockchain. The idea was this might prove attractive to merchants, who were sometimes forced to wait for 6 confirmations (about an hour) before it was safe to deem Bitcoin payments final.
As interest from merchants in cryptocurrency faded in the mid-2010s, however, Litecoin would adopt a more aggressive approach to development, pioneering new features like the Lightning Network and Segregated Witness, cutting-edge technologies now live on Bitcoin.
Rather than stoking competition between the networks, the market has largely viewed these efforts as in line with Litecoin’s values. (The project differs from many other cryptocurrencies in that it has always been positioned as a complement to Bitcoin.)
Early marketing efforts for the project went so far as to portray Litecoin as the “silver to bitcoin’s gold,” a tagline that continues to entice potential buyers to this day.
What is Litecoin (LTC)?
Who created Litecoin?
Since 2011, Litecoin has been closely associated with its founder and creator, Charlie Lee, a computer scientist and graduate of the Massachusetts Institute of Technology.
Lee would go on to a career in technology before creating Litecoin, working at Internet giant Google. He later joined cryptocurrency exchange Coinbase as Director of Engineering in 2013.
Once joining the startup, Lee largely put the development of Litecoin aside, saying in 2017 that he thought his most important goal at the time was to help people “own bitcoin and hold bitcoin.”
In late 2017, Lee departed Coinbase to pursue Litecoin development full time. Lee now serves as the managing director of the Litecoin Foundation, a non-profit dedicated to the project.
Bitcoin is also available on major exchanges, where it can then be sent to a private hardware wallet or elsewhere. I don’t have a strong view on which exchanges are the best. However, be careful about platforms that don’t let you withdraw your Bitcoin, like Robinhood. I personally bought my core position through an exchange in April when I turned bullish, and transferred a lot of it to personal custody.In February 2015, the number of merchants accepting bitcoin exceeded 100,000.algorithm bitcoin bitcoin sweeper ethereum обмен total cryptocurrency logo ethereum bio bitcoin moneybox bitcoin картинка bitcoin bitcoin кошелька monero btc foto bitcoin оплата bitcoin
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bitcoin qt bitcoin capital nonce bitcoin DecentralizationIn 2020, one of the most interesting trends in Litecoin development is the work on MimbleWimble.. In blockchain, the MimbleWimble protocol works to ensure the privacy of the transactions by preventing any sharing of the information about sender and receiver’s addresses, or the amount sent. Even as some doubts remain about MimbleWimble’s robustness, its implementation with Litecoin could prove significant for the cryptocurrency’s long-term usefulness. The MimbleWimble testnet was launched on Litecoin at the end of September 2020 and was later relaunched due to low community engagement in the first deployment.bitcoin fields bitcoin шахты ethereum токены сложность bitcoin ethereum testnet bitcoin обменник bitcoin машины bitcoin click bitcoin пицца fenix bitcoin bitcoin get cryptocurrency market bitcoin c ethereum myetherwallet bcc bitcoin bitcoin суть