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What is Litecoin?

Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. The coin was inspired by, and in technical details is nearly identical to, Bitcoin (BTC).





History

Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee. The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.

Litecoin reached a $1 billion market capitalization in November 2013.

In May 2017, Litecoin became the first of the top 5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Z├╝rich to San Francisco in under one second.



Differences from Bitcoin

Litecoin is different in some ways from Bitcoin. The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes. The developers claim that this allows Litecoin to have faster transaction confirmation. Litecoin uses scrypt in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard. Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.

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Recent Payouts

DateAddressReward
15.07.2018-22:49:55
LVQ1RfewTKLH8AGdT49uvqux767LXqbVP41290 satoshi
15.07.2018-22:48:24
LVr8bn9rwDzusGzc9ckQhQ2dxHfkXH6Bvw1290 satoshi
15.07.2018-22:47:10
LLFfR3w1nmYXoecxXpQbX59M2bG7BJNvQT1290 satoshi
15.07.2018-22:46:24
LV87wBiZQjsbjcqGG1KsQbNRtnpZh9N9zL1290 satoshi
15.07.2018-22:46:10
LiDMpCQVEi3eyb9tgpVurxeuPnj5x7qf5R1290 satoshi
15.07.2018-22:45:57
3Bynjk9pYJSXjk1MtnQFr8VyvxE6awPqe11290 satoshi
15.07.2018-22:45:37
LfLguW4U2zouZRRtbMrsFBRW5xB4ig46Kh1290 satoshi
15.07.2018-22:45:01
LToUCJ5siYgNuj8Y59Ff7EJdcU53AFKG9R1290 satoshi
15.07.2018-22:44:14
LSFehR4qWMrxVM2joGCoEAssiVbCvdMaBe1290 satoshi
15.07.2018-22:44:02
LQ2ZpTUSBNuWcHEWYgDy6EyLB3qpad3Hvg1290 satoshi