One of the first forks of Bitcoin, which is largely similar to its "ancestor", but still has a lot of differences. His cryptocurrency received a similar name. Overall Litecoin is developing in its own way and has a huge popularity among ordinary users and large investors.
Cryptocurrency platform received a reduction of LTC. For several years she is among the five most valuable digital coins. By the end of 2017 has produced over fifty-four million litecoin. Their market capitalization is more than fifteen billion US dollars. And the average cost per LTC holding at about three hundred us dollars to 2017.
The history of creation
Litecoin was the second fork after the platform bitcoin Namecoin. Its inspiration, the main developer and founder is Charles Lee. This man had the greatest influence on the development of a new project.
The platform was launched on the thirteenth of October 2011. To interact with it, there are several client programs with source code free. Some of them were published the seventh of October of the same year on GitHub.
By the spring of 2013 due to the difference in the approach to data processing and protection of information, Litecoin has been regarded by many experts as alternatives to bitcoin. This led to the inevitable growth of the cryptocurrency. Since litecoin was supported by many large investors already in November 2013, its market value increased by two times during the day. However, the price of one unit of digital coins is still lost to his "ancestor".
By April 2017 platform developers have decided to go to the support SegWit. This step led to the appreciation of cryptocurrency rate more than ten times. At the end of the month its cost was fifty dollars. Since then, the price of Litecoin has continued to rise.
By the end of 2017, the price of litecoin has exceeded three hundred dollars. But the rate has slowed and is around that mark.
For transactions that Litecoin uses several clients, the source codes are made public. Each user effortlessly find the most suitable for all your requirements – both with GUI and without it.
The base platform is written in C++. Therefore, every sensible programmer may be involved in the improvement of the project at any stage of its development.
Advantages and disadvantages
The main difference between cryptocurrency and its clear advantage over Bitcoin is that the transaction rate in the system is made much faster. On average, three to four times. The protection from external vulnerabilities and the negative impact inside the platform is also much higher.
While Litecoin has a large number of exchanges, exchangers and large pools of cryptocurrency. So digital coin looks favorably against the competition. And there is no doubt that she will continue to develop in the chosen direction.