Description

Litecoin

Litecoin (LTC) is a decentralized cryptocurrency, a fork of Bitcoin intended by its designers to be more feasibly mined using consumer-grade hardware. Litecoin is a peer-to-peer crypto currency that was developed on the base of Bitcoin and has an open source code. Unlike Bitcoin, the Litecoin blockchain is able to process a greater number of transactions.

The creator of Litecoin – Charlie Lee, a former employee of Google – took the Bitcoin source code as a basis and created a crypto currency that needs 2.5 minutes to generate a block – this is 4 times faster than Bitcoin.The full emission of Litecoin makes out 84 million coins, which is also 4 times more than of Bitcoin. The start reward for a block made out 50 Litecoins, and now it is 25 Litecoins.

Features of Litecoin

  • Transaction confirmation is faster
  • Increased storage efficiency
  • Coins to reward miners
  • Reliable

Some common issues of Litecoin, We fix-

  • Trouble signing in on litecoin.com.
  • Unable to sell and buy Litecoin.
  • My password does not work.
  • Trouble connecting with the server
  • Unable to receive a Litecoin.
  • Litecoin hacking issue.
  • Unable to deposit and withdraw USD.
  • Wallet balance doesn’t show.
  • Hacking a payment gateway.
  • User address error.
  • Loss of a wallet file.
  • Unable to send a Litecoin
  • Unable to mine Litecoin.
  • Unable to send Litecoin from my account.
  • Unable to cash Litecoin.
  • Two-factor authentication failed.
  • Connectivity Issues or “Connection Error”
  • Unable to open the Litecoin wallet.

Advantages and Disadvantages of Litecoin

Advantages

  • It is an open source project
  • Litecon is little faster than Bitcoin
  • Transaction fee is almost zero
  • All hardware wallets supports Litecoin
  • As it was created by a former Google employee, which means reliable and more secure than the other cryptocurrencies

Disadvantages

  • Segwit has recently been included in Bitcoin that means advantage in Litecoin over Bitcoin is reduced
  • Client code is not maintained properly

 

History

Litecoin was released in October 2011 in the form of a client with an open source code on the Internet hosting GitHub by Charles Lee, a former Google employee. The crypto currency works according to the MIT/X11 license, which allows anybody to execute, modify and copy software as well as to distribute any modified copies. It was a fork of the Bitcoin-Qt client, differing primarily by having a decreased block generation time, increased maximum number of coins, different hashing algorithm, and a slightly modified GUI.

The Litecoin exchange rate gave a jump in November 2013: the capitalization of crypto currency exceeded 1 billion dollars.

[crtools-table cols=”price,change,graph” coin=”BTC,ETH,XRP,XMR,LTC,XRP,XLM,XEM,LSK” search=”false” pagination=”5,10″]

Dynamics

[ coin=”LTC”]