Learn the value of the Litecoin every day

There are so many different cryptocurrency in this world now. So which one is worth investing and that’s what we are going to find out today.

Let’s learn about Litecoin, the seven-ranked cryptocurrency. So what is Litecoin?

Litecoin is based on the Bitcoin protocol, but unlike Bitcoin, even at this stage, it is possible to ‘mining’ efficiently through consumer-grade hardware. One of Litecoin's design goals is to provide a mining algorithm that enables it to be run simultaneously on machines that mine Bitcoin. While the application of integrated circuits designed to tap bitcoin is on the rise, Litecoin is also following the evolution of technology. But before the Litecoin currency is widely used, it is unlikely that an application specific integrated circuit designed specifically for Litecoin will appear.

Litecoin is a network currency based on ‘peer-to-peer’ technology and an open source software project under the MIT/X11 license. It helps users pay instantly to anyone in the world.

When it comes to Litecoin, it has to mention its founder Charlie Lee. Charlie said in public that he first learned about Bitcoin from an article describing Silkroad, and immediately began to study why Silkroad only accepts bitcoin. After the study, he became more and more attracted to this new thing and invested in it for a long time.

In 2011, the idea of creating an easy-to-use cryptocurrency was born, complementing Bitcoin. At that time, there were already many cryptocurrencies, and each found that there were deficiencies. The most dissatisfied is that many founders themselves first dig a lot of money they invented, and then put it on the market, so once the price of the currency rises, the founder may become the biggest beneficiary. So he thought of issuing digital currency in a fair and equitable way.

The name of this cryptocurrency should be easy to remember. At that time, it was discovered that no one was used by litecoin.com. He registered it and announced the client and mining tutorials one week before the official release of Litecoin. You can try to dig. At the time of the official release, the ‘Creation Block’ was designated to announce the official birth of Litecoin.

Litecoin Assessment

The Litecoin is inspired by Bitcoin and technically has the same implementation principle. The creation and transfer of Litecoin is based on an open source encryption protocol that is not managed by any central authority.

Like Bitcoin, Litecoin is also an open source peer-to-peer encrypted electronic currency that is technically highly complementary to Bitcoin. It is intended to complement bitcoin. Cryptocurrency creation and transfer are based on encryption protocols and are not subject to central authority. management.

Charlie created the Litecoin to make it a means of micropayment. Bitcoin can also be used to store value and circulation, but Bitcoin transaction speed is severely limited due to Bitcoin's confirmation time and block size.

At the time, Charlie believed that people could trade large amounts of assets on Bitcoin, but transactions in small assets could be realized through Litecoin exchange because Litecoin offered faster transaction speeds and lower fees.

LTC Info

From the Litecoin chart, we can see that Litecoin price today is $54.57 at 14:54 on September 11, 2018, the 24h volume of LTC to BTC is still at the top.

After seeing this, did you know Litecoin better?

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