*Last updated 07:08 08/18/2022
Litecoin LTC
Ranking #20
$61.19 -1.84%
  • Market Cap $4,342,500,000 0.51%
  • Volume 24h $404,819,000 1.84%
  • Fully Diluted Valuation $5,139,800,000
Circulating Supply 69,095,400 LTC
Total Supply 84,000,000 LTC
Max Supply 84,000,000 LTC
Last updated 07:08 - 08/18/2022

Technical Chart

Litecoin Statistics

  • Rank 21
  • Num market Pairs 818.00
  • Price $61.19
  • Price 24h High 64.71
  • Price 24h Low 59.94
  • Change 1h -0.51%
  • Change 24h -1.84%
  • Change 7 day -0.95%
  • Change 30 day 7.50%
  • Change 60 day 23.12%
  • Change 90 day -13.64%
  • Market Cap Dominance 0.39%
  • Block Times 0
  • Hashing algorithm Scrypt
  • Developer score 77.221
  • Community score 49.837
  • Liquidity Score 78.239

Social Statistics

  • twitter followers 206,507
  • reddit average posts 48h 1
  • reddit average comments 48h 125
  • reddit subscribers 353,978
  • reddit accounts active 48h 302

Development Statistics

  • forks 2,988
  • stars 4,012
  • subscribers 530
  • total issues 449
  • closed issues 384
  • pull requests merged 103
  • pull request contributors 43

All You Want To Know About Litecoin

Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins. Why Litecoin? Litecoin is a cryptocurrency that has evolved from Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin's 10 minutes. ‘While this matters little to traders, miners who use hardware to run Bitcoin's network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained. As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks'. The faster block time of litecoin reduces the risk of double spending attacks - this is theoretical in the case of both networks having the same hashing power. Litecoin Technical Details: The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin's 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units. Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.
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