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Litecoin

LTC

  • Digital Currency
  • PoW
Established Year
2010
Operating Status
Active
Litecoin is a peer-to-peer digital currency for online payments. It is a global payment network that is fully decentralized, without any central authorities. Mathematics secures the network and gives individuals the power to control their own finances. Litecoin has faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With strong industry support, trade volume and liquidity, Litecoin is a proven medium of commerce that complements Bitcoin.

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Frequently Asked Questions

What Is Litecoin (LTC)?

Litecoin (LTC) is a cryptocurrency that was designed to provide fast, secure and low-cost payments by leveraging the unique properties of [blockchain](https://coinmarketcap.com/alexandria/glossary/blockchain) technology. To learn more about this project, check out our deep dive of [Litecoin](https://coinmarketcap.com/alexandria/article/litecoin). The cryptocurrency was created based on the [Bitcoin](https://www.coinlive.com/coin/bitcoin) (BTC) protocol, but it differs in terms of the hashing algorithm used, hard cap, block transaction times and a few other factors. Litecoin has a block time of just 2.5 minutes and extremely low transaction fees, making it suitable for micro-transactions and point-of-sale payments. Litecoin was released via an open-source client on GitHub on Oct. 7, 2011, and the Litecoin Network went live five days later on Oct. 13, 2011. Since then, it has exploded in both usage and acceptance among merchants and has counted among the top ten cryptocurrencies by market capitalization for most of its existence. The cryptocurrency was created by Charlie Lee, a former Google employee, who intended Litecoin to be a "lite version of Bitcoin," in that it features many of the same properties as Bitcoin—albeit lighter in weight.