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What is Litecoin? (LTC)
The Beginner’s Guide
Widely considered to be the first successful “alternative cryptocurrency,” Litecoin’s 2011 release would inspire a wave of developers to try to expand the user base for cryptocurrencies by altering Bitcoin’s code and using it to launch new kinds of networks.

So, while Litecoin was not the first cryptocurrency to copy Bitcoin’s code and modify its features, it is one of the more historically significant, establishing a robust market over time even as it has sometimes faced criticisms that it lacks a clear value proposition.

For example, Litecoin would first differentiate its technology by reducing the amount of time it took for new blocks of transactions to be added to its blockchain. The idea was this might prove attractive to merchants, who were sometimes forced to wait for 6 confirmations (about an hour) before it was safe to deem Bitcoin payments final.

As interest from merchants in cryptocurrency faded in the mid-2010s, however, Litecoin would adopt a more aggressive approach to development, pioneering new features like the Lightning Network and Segregated Witness, cutting-edge technologies now live on Bitcoin.

Rather than stoking competition between the networks, the market has largely viewed these efforts as in line with Litecoin’s values. (The project differs from many other cryptocurrencies in that it has always been positioned as a complement to Bitcoin.)

Early marketing efforts for the project went so far as to portray Litecoin as the “silver to bitcoin’s gold,” a tagline that continues to entice potential buyers to this day.

What is Litecoin (LTC)?

Who created Litecoin?
Since 2011, Litecoin has been closely associated with its founder and creator, Charlie Lee, a computer scientist and graduate of the Massachusetts Institute of Technology.

Lee would go on to a career in technology before creating Litecoin, working at Internet giant Google. He later joined cryptocurrency exchange Coinbase as Director of Engineering in 2013.

Once joining the startup, Lee largely put the development of Litecoin aside, saying in 2017 that he thought his most important goal at the time was to help people “own bitcoin and hold bitcoin.”

In late 2017, Lee departed Coinbase to pursue Litecoin development full time. Lee now serves as the managing director of the Litecoin Foundation, a non-profit dedicated to the project.



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In the Bitcoin network, anyone can join the network and become a bookkeeping service provider i.e., a validator. All validators are allowed in the race to become the block producer for the next block, yet only the first to complete a computationally heavy task will win. This feature is called Proof of Work (PoW).The probability of any single validator to finish the task first is equal to the percentage of the total network computation power, or hash power, the validator has. For instance, a validator with 5% of the total network computation power will have a 5% chance of completing the task first, and therefore becoming the next block producer.Since anyone can join the race, competition is prone to increase. In the early days, Bitcoin mining was mostly done by personal computer CPUs.As of today, Bitcoin validators, or miners, have opted for dedicated and more powerful devices such as machines based on Application-Specific Integrated Circuit ('ASIC').Proof of Work secures the network as block producers must have spent resources external to the network (i.e., money to pay electricity), and can provide proof to other participants that they did so.With various miners competing for block rewards, it becomes difficult for one single malicious party to gain network majority (defined as more than 51% of the network's hash power in the Nakamoto consensus mechanism). The ability to rearrange transactions via 51% attacks indicates another feature of the Nakamoto consensus: the finality of transactions is only probabilistic.Once a block is produced, it is then propagated by the block producer to all other validators to check on the validity of all transactions in that block. The block producer will receive rewards in the network’s native currency (i.e., bitcoin) as all validators approve the block and update their ledgers.bitcoin purse monero spelunker tether обзор bitcoin rotator

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gift bitcoin bitcoin прогноз panda bitcoin сбербанк bitcoin hyip bitcoin bitcoin 10000 Both bitcoin and litecoin have a finite number of coins in circulation. Bitcoin has 21 million coins available, while litecoin has 84 million available – four times more than bitcoin.statistics bitcoin bitcoin биткоин bitcoin paypal

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Finally, there are the ethereum smart contracts. These are programs which control blockchain assets, executed over interactions on the ethereum blockchain. Ethereum itself is a platform for smart contract code.ethereum mine loan bitcoin kinolix bitcoin компания bitcoin пулы bitcoin обновление ethereum сервисы bitcoin icon bitcoin bitcoin перспективы bitcoin gadget