Litecoin (LTC)

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Name	Price	Supply	Volume	Market Cap
Litecoin	$68.95	65,964,014.10 LTC	$4,152,233,841.00	$4,542,839,565.00

QUICK STATS

Proof of Work(PoW), uses Scrypt algorithm as opposed to SHA-256 of Bitcoin.

OKEx
Binance
Bitfinex

Litecoin was created by Charlie Lee to provide the altcoin space with viable alternative to BTC. It was designed to be mined by CPU and in that way would not to compete with BTC mining. This did not last long because one year after launch, somebody discovered a way to mine LTC with GPUs, and that is its current situation.

It started with 2.5 minutes block times (compared to, then, 10 minutes for BTC) for speed, no premining, and with a good name and marketing. Basically, improvement on BTC and other altcoins of that time (2011).

Presently, LTC is primarily used for transactions between exchanges and wallets.

LTC is the first real alt coin which produced a faster working version alternative to Bitcoin. Common comparison is that BTC would be used for big expenses, such as houses and cars and LTC for everyday expenses, such as grocery shopping and drinks in coffee.

Ripple(XRP), Stellar(XLM), QASH(QASH)

VIDEOS

BACKGROUND

Whitepaper Summary

No white paper, it is a fork of Bitcoin and everything is the same except block times and POW algorithm.

Problem Solved

Bitcoin is expensive and slow, Litecoin is cheap and fast.

Competitive Edge

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 Zürich to San Francisco in under one second.

If LTC is going to be everyday currency, it has competition in the form of XLM and, to some extent, XRP. The main strength of LTC is that it is fully decentralized, especially now with Charlie Lee again in full control without media worries and its fork of BTC, original code of Satoshi Nakamoto.

Development Roadmap

LTC does not have a roadmap per se, but instead development plans from developers. They can be found on litecoincore.org. As of 06/02/2018, “Litecoin Core 0.15.1 almost ready for release. We have also started working on 0.16, which will have full SegWit support, Bech32 addresses, and lower min fees.”

INITIAL COIN OFFERING (ICO)

No ICO. Charlie Lee took the BTC code and adjusted it to his vision.

LTC started purely as voluntary participation in the early days. It was coded so that Litecoin’s block mining reward halves every 840,000 blocks, the coin reward will decrease from 25 to 12.5 coins.

There are rumour’s around conspiracy with the distribution side of things on forums and chat groups. Some argue that Litecoin is a group of 10,000 people with 90% of all coins are owned by 100 accounts. Links are in References and Links for further information.

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TEAM INFO

Creators / Founders

Charlie Lee
Founder

Core Development Team

The Litecoin Foundation is a non-profit organization registered in Singapore (Litecoin Foundation Ltd. UEN: 201709179W). Its mission is to advance Litecoin for the good of society by developing and promoting state-of-the-art blockchain technologies.

Board of Directors

Charlie Lee (US) – Managing Director
Thanks to his time at Coinbase and LTC, Lee is regarded as a key influencer in the crypto space and he has accumulated more than 378,000 followers on Twitter, where his handle is @SatoshiLite.

Xinxi Wang (SG) – Director
Founder and CEO of Coinut Exchange, LitecoinCore developer and Angel Investor with Overlay Technologies from Singapore.

Zing Yang – Director
Experience from strategic management position in investment and funds sectors with B.B.A. degree of Double Major in Finance and Marketing, Summa Cum Laude (Highest Distinction)

Franklyn Richards (UK) – Founding Member and Lead Designer

Keith Yong (SG) – Operations Director

John Eidson – Marketing Director
Senior Management PR professional from USA, greater Boston area.

Adrian Gallagher (thrasher, AU) – Sponsored Full-time Developer

Notable Advisors

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Notable Investors

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Trade Crypto Live Sentiment

Litecoin is very well established and has been one of the fastest to adopt new technology and improvements. At Trade Crypto Live it’s considered to be one of the “Big 3” (BTC, ETH LTC) and we are very active in following its developments, market structure and fundamentals.

Reference & Links

https://www.reddit.com/r/litecoin/comments/7vir6l/litecoin_core_0151_almost_ready_for_release_we/
http://www.litecoinblockhalf.com/

The wealth distribution of LTC from litecoin

https://bitinfocharts.com/top-100-richest-litecoin-addresses.html

About Us

https://coincheckup.com/coins/litecoin/

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