Litecoin (LTC)

Litecoin is currently trading at $85.31, after a price change of 1.70% in the last 24 hours.

Ranked as cryptocurrency #11 by capitalization today, LTC market cap is valued at $6,146,773,687. LTC trading volume reached $943,818,679 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on LTC coin price prediction page.

What is Litecoin?

Litecoin is an open-source, P2P blockchain project that can execute transactions at a faster rate compared to Bitcoin. It was introduced in 2011 by Charlie Lee, an MIT graduate, via Github. Within a few years, it became one of the top digital assets in terms of market cap. LTC is the native altcoin of this blockchain environment. It is a powerful tool that allows you to make cheap and secure payments without being censored by a central authoritative body.

LTC consists of open-source code. It is based on a proof-of-work mechanism. Thus, holders can authenticate transactional blocks via their systems by mining new coins. The Scrypt algorithm used by LTC makes it possible to create blocks at a faster pace. The mining complexity varies every 2.5 days. 

After a user has verified a particular block, the space in the chain is occupied by the next block. It is possible for users to maintain anonymity while verifying the trades, although their public addresses are tied to them. Miners receive rewards in the form of LTC tokens. However, the reward is diminished once every four years.