Litecoin (LTC)

cryptocurrency
lightning network
segwit
proof of work
scrypt
#6

Marketcap Ranking

48.31835 (-5.09%) arrow_drop_down

Market Price (24h change)

3,079,629,701

Total Market Cap

3.1

2.6

info_outline What is Litecoin

4.7

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Short Description

General Data and Information. The Litecoin software was released on the 7th October 2011 by Charlie Lee, with the network going live roughly a week later on the 13th of October 2011. As a fork of Bitcoin Core, Litecoin featured several improvements upon the original Bitcoin protocol including reduced blocktimes (decreased to 2.5 minutes instead of 10 minutes), increased total supply and a different proof of work algorithm (scrypt vs SHA-256). The adoption of a faster blocktime meant that transactions were quicker to settle and be written into the blockchain, whilst the adoption of the memory intensive scrypt algorithm was intended to defeat the ASIC dominance of mining (due to the added financial costs of producing specialized mining machines with the required extra memory). However, due to the popularity of Litecoin, ASICs have been already developed and deployed that are able to mine the scrypt algorithm. Often considered to be the silver to Bitcoin’s gold status, improvements and upgrades are often rolled out to the Litecoin network before they reach the Bitcoin network (such as the SegWit and Lightning Network upgrades). This practice has also led to some people derisively calling Litecoin the test-network for Bitcoin. Milestones

7th October 2011 - Open Source software for Litecoin released. 13th October 2011 - Litecoin network goes live. May 2017 - Segregated Witness (SegWit) implemented. First Lightning Network transaction completed on the Litecoin network. Utility. Litecoin serves a similar use-case function as Bitcoin, attempting to be a digital store of value and medium of exchange but with the advantage of faster block times (which makes transactions faster to settle). In addition (due to lower network usage), it has lower transaction fees than the better known flagship crypto-currency. However, it suffers from a smaller market capitalization and liquidity which makes it much less useful as a pairing partner for other crypto-currencies

Significant Features. - Average Blocktime of 2.5 minutes; Total supply of 84 million LTC; Proof of Work consensus based on scrypt algorithm. - Transactions are pseduo-anonymous. Funds are sent address to address, but an owner identity can eventually attributed to an address given enough data and analysis. - Whilst sharing many decentralized attributes of consensus and governance as Bitcoin, Litecoin does have a known creator who can provide vision and guidance for the direction of the project. - Decentralized access allowing any party with the open-source software and internet access to send and receive Bitcoin irreversibly without third party interference or trust. - Decentralized governance via open-source development and forking. References: .

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Introduction Video

What is Litecoin | Franklyn [Crypto]

What is Litecoin? http://litecoinassociation.org http://litecoin.com Video - Noah Harrison (hfn64) Voice - Stephanie Murphy

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Screenshot from Website

litecoin.com
LTC Websitemore_vert

Visit Webpage

Website Informationclose

Organization: Contact Privacy Inc. Customer 124832997
Name: Contact Privacy Inc. Customer 124832997
Country: CA
City: Toronto
Zipcode: M4K 3K1
Address: 96 Mowat Ave
Mail: registrar-abuse@google.com
Creation date: 2011-10-04
Expiration date: 2020-10-04
Nameserver: ALINA.NS.CLOUDFLARE.COM

attach_money Product Analysis

4.8

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Whitepaper

NO ORIGINAL LITECOIN WHITEPAPER AVAILABLE.


file_downloadOpen Whitepaper
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Close Competitors

  • 1.) Groestlcoin

    Groestlcoin (GRS) is a cryptocoin, that is optionally private. Anyone can mine it effectively, with GPU.

  • 2.) Bitcoin Atom

    Bitcoin Atom (BCA) is a SegWit enabled Bitcoin fork with atomic swaps, hybrid consensus and lightning network.

  • 3.) Bitcoin

    Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.

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Product analysis

Litecoin was founded back in October 2011. Its source code was released publicly on github on June 2012 under the MIT License license.
Organization wise, Litecoins Development is Semi-centralized and is being developed under the lead of Litecoin China Community Leader.

The consensus on which the Litecoin network is run is called POW, while the underlying algorithm is called Scrypt.
In the current state of Litecoin currently is Working product

group Community Analysis

4.1

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Communities & Events

For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining.

view_list r/litecoin Subreddit
person 209,624 Subscribers
directions_run 600 Active Users
create 8 Daily Posts
speaker_notes 35 Daily Comments
linkOpen Subreddit

Donator ranking system+perks
https://goo.gl/HEagfr

Forum - litecointalk.io
Twitter - twitter.com/Litecoin
Dev - litecoin.org
LF - litecoin-foundation.org
China - @LitecoinCN
Rules @TermsConditions
Listed in @Crypto

view_list Litecoin LTC Channel
person 14,502 Members
directions_run 618 Online
linkOpen in Telegram

Official Twitter account for Litecoin

view_list @LitecoinProject Channel
person 32,339 Followers
05.07.2019
23:04
Litecoin Core v0.17.1 released! All users are advised to upgrade. https://t.co/0Z5fBzdEDM 372 favorite
03.07.2019
02:23
Litecoin Core v0.17.1 RC1 released! Major release, please test thoroughly https://t.co/JT0pva3HrG 479 favorite
09.20.2018
00:27
Litecoin Core v0.16.3 has been released which includes a very important security fix for a DoS vulnerability, CVE-2018-17144! All users are advised to upgrade as soon as possible. https://t.co/6wyNEdiNFP 451 favorite
09.08.2018
12:56
Litecoin Core v0.16.2 released! All users are advised to upgrade https://t.co/d7NGR1vYIW 142 favorite
08.03.2018
01:03
Litecoin Core v0.16.2 RC1 released! Minor release, please test thoroughly https://t.co/CkwLlroro1 341 favorite
05.31.2018
06:43
Litecoin Core v0.16.0 released! All users are advised to upgrade. https://t.co/OKeQbrAnIs 577 favorite
03.02.2018
03:03
Litecoin Core v0.15.1 released! All users are advised to upgrade. https://t.co/PpURY5cD2h 502 favorite
08.02.2017
02:56
Litecoin Core v0.14.2 released! This is an important update, all users are advised to upgrade https://t.co/WzW1mzSlS6 161 favorite
04.28.2017
03:29
SegWit & CSV activation imminent. All users, especially miners and exchanges are advised to upgrade to 0.13.2 ASAP! https://t.co/rTAM2atpFh 118 favorite
01.15.2017
08:51
SegWit has activated on testnet! If you mine on testnet and haven't upgraded, please do so ASAP! Release info here: https://t.co/I5GWPmSWTZ 86 favorite

There are no events for Litecoin in the next 3 Months

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Google Trends Analysis


The Google Trends chart displays the search interest on google in Litecoin relative to its peak over the last year. A rising chart shows growing interest int he project.

code Development Analysis

1.6

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Github Analysis

Code Updates (Commits)


Every change to the codebase of Litecoin is registered as a commit. More active projects have many commits, dead projects nearly none.

Code line changes (+/-)


Extending a project results in many new lines of code. Changing existing code results in nearly the same amount of additions and deletions. Projects that are growing show a large number of code additions with relatively few deletions.

Programming languages

Repository Numbers

star 3,404 Stars
remove_red_eye 535 Watchers
usb 2,241 Forks
sync_problem 36 Open Issues
border_color 0 Comment Coverage
lock_open MIT License License

attach_money Price Analysis

3.0

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Price Prediction

$ 57.44711 (-3.9%) arrow_drop_down

Predicted USD Market Price in 24h

$ 58.06071 (-2.88%) arrow_drop_down

Predicted USD Market Price in 14d

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Converter LTC - USD

Convert between LTC and USD with the live Litecoin prices, aggregated from all big exchanges that trade Litecoin.


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Market insights

Volume from exchanges is considered untrusted if the exchange has little reputation and no License but reports suspiciously high trading volume in particular coins.

account_circle Team Analysis

4.8

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Team

Lead

Charlie Lee - Founder
Charlie Lee :More than four years before Charlie founded Litecoin, he started working at Google in September 2007 as a software engineer. At Google, Charlie is involved in many projects such as Play Games, YouTube Mobile and Chrome OS. In July 2013, Charlie left Google after five years of working with the company. In October 2011, Charlie Lee founded Litecoin. About two years after the creation of Litecoin, Charlie left Google to work for the newly created Coinbase. Charlie worked for 4 years at Coinbase, initially as an engineering manager and then as an engineering director before leaving in 2017. Charlie was one of the first people to be hired to work at Coinbase. He is currently the Managing Director of the Litecoin Foundation and oversees the development of Litecoin's cryptocurrency. A Segregated Witness (SegWit) protocol upgrade has been implemented and more future upgrades are planned.


supervisor_accountSocial Network Links

Members (16)

Litecoin China Community Leader

Pz

Franklyn Richards

Director

launch

Zing Yang

Director

launch

Adrian Gallagher

Developer

launch

Keith Yong

Operation

launch

Fan Yang

Developer

launch

Johnson Lau

Developer

launch

Peng Sun

Developer

launch

Xinrong Guo

Developer

remove_red_eye Product Review by Coinpaper

2.7

How things stand

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Litecoin has been the altcoin that remained in the top ten for the longest time which is a sign for stability.
Even though Litecoin has been around for a while, there are still more addresses with $1000 of BTC than there are with $1 of LTC. [1]
Usual fee prices are around $0.05, but on 24 May 2019 a user paid a 200 Litecoin fee which was valued at over $17’500.- [2]

3.7

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Code development of Litecoin has come to a complete halt since February 2019. [1]

1.0

Product description

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Litecoins goal is to be a storage value and to get accepted as a form of payment by many merchants. The founder of Litecoin called Litecoin the “digital silver” to Bitcoins “digital gold”. [1]

2.7

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Litecoin was developed as a cheaper and faster alternative to Bitcoin. This has been achieved by using a Scrypt hashing algorithm instead of the common SHA-256 algorithm that’s being used by Bitcoin. [1]
On 16 November 2017 the Lightning network was introduced as a way to swap tokens of different blockchains. The first Lightning cross-chain swap was from Bitcoin to Litecoin. [2]

3.5

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The founder of Litecoin is Charlie Lee. He forked the code from Bitcoin in 2011 and started developing Litecoin very early. In January 2018 he tweeted that he had sold all his Litecoin, which caused the market price to drop. [1] [2]

2.7

Pro-Contra

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Security Relatively high. The coin has been around for a while.
Adoption The coin has a high acceptance rate compared to other cryptocurrencies.
Transactions per second It can handle many more transactions per second compared to other cryptocurrencies.
Transaction speed The transaction speed is much higher compared to other cryptocurrencies.
Transaction cost The transaction fees are much lower compared to other cryptocurrencies.
Decentralization The coin is fully decentralized.
Product availability The product is already available.
Exchange availability The coin is available on the major trusted exchanges.
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Enery consumption The energy consumption is high compared to other cryptocurrencies.
Privacy Transactions with this coin are pseudonymous.

remove_red_eye Market Review by Coinpaper

2.4

Foresight

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Litecoin might stay in the top ten for a while, but there are not many attempts at creating demand for merchants to accept Litecoin as a form of payment thus Litecoin might most probably perish.

1.5

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The last project (Litepay) was cancelled in March 2018. There are currently no projects in the planning. [1]

1.0

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Litecoins potential could be big if a huge digital merchant or many smaller merchants chose to accept Litecoin as a form of payment as Litecoin is a better known cryptocurrency.

3.0

Business

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Litecoin doesn’t support private transactions and is being beaten by much faster coins. There are much better solutions for scalability, privacy and speed of transactions. The only argument might be the aspect of the store of value “digital silver”.

2.0

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Coinbase (cryptocurrency exchange) and Visa launched the Coinbase card which can be used to spend Coinbase balances of Litecoin, Bitcoin, Ethereum and Ripple. [1]

3.5

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Litecoin has a very loyal community, but there’s not much incentive to create new applications or to start marketing pushes.

2.5

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The Litecoin development is supported by the Litecoin Foundation. The current team consists mostly of members that are located in China. The founder Charlie Lee acts as the Managing director of the Litecoin Foundation. [1]

3.5

compare_arrows Exchanges

Markets

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# Exchange Pair Price 24h Volume Trusted
# 1 Coinbase Pro LTC/USD $ 48.53000 $ 20,096,970 check
# 2 Binance LTC/BTC $ 48.51644 $ 14,220,589 check
# 3 Bitfinex LTC/USD $ 48.47300 $ 5,391,840 check
# 4 Bitstamp LTC/USD $ 48.45000 $ 4,370,369 check
# 5 Coinbase Pro LTC/EUR $ 48.76096 $ 2,945,145 check
# 6 Kraken LTC/USD $ 48.53000 $ 2,506,422 check
# 7 Coinbase Pro LTC/BTC $ 48.54575 $ 2,387,247 check
# 8 Bitstamp LTC/EUR $ 48.70583 $ 2,271,035 check
# 9 Kraken LTC/EUR $ 48.69480 $ 1,551,807 check
# 10 Binance LTC/TUSD $ 48.58670 $ 1,486,972 check

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