Litecoin(LTC) is a well-known decentralized cryptocurrency. Litecoin is a fork of the first cryptocurrency “bitcoin”. Envisioned by the Litecoin designer for feasible mining with customer grade hardware.
Litecoin is a peer to peer cryptocurrency with open source code since the Bitcoin model was the base of Litecoin design. The litecoin blockchain is more efficient and powerful. To produce a greater number of transactions as compared to Bitcoin.
Litecoin Released On GitHub
In 2011, October 7, GitHub released Litecoin via an open-source client by a former google employer Charli Lee. Litecoin went live on 13 Oct 2011. Firstly it was the fork of the bitcoin core client. The only difference recorded in terms of block generation with a decreased time of 2.5 minutes. The event witnessed an increase in Litecoins, in comparison to bitcoin. Litecoin worked on a different hash algorithm rather than SHA-256. The graphical user interface was also slightly changed and modified as compared to the bitcoin.
During the month in November in the year 2013 the litecoin aggregate value experienced massive growth including a 100% leap within 24 hours. The event experienced a hype in the area of market capital. Also, the same year litecoin reached the $1 billion market capitalization. And till the end of 2017 litecoin market capital reached around US $4,600,081,730 approximately one coin was measured as $85.18.
Currenctly litecoin market capital is around $262,624,613,016 with the 24 trading volume of around $2,838,489,771 and have a circulating supply of 64,774,455 with max supply 84,000,000.
Litecoin founder Charlie Lee has suggested that Litecoin mining pools and miners donate 1% of their block mining rewards to the Litecoin Foundation.
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