Litecoin, which started in October with 60.313878963 dollars, reached the highest level of the last month with the lowest of the last month on September 11, 2015 with $ 51.53 and with $ 63.66 on 27/09/2018. Last week, the exchange rate of 8,9381% Litecoin is currently traded at $ 58.35.
What is Litecoin (LTC)?
Litecoin (LTC) is a peer-to-peer encrypted synchronization and open source software project that is available under the MIT / X11 license. The creation and transmission of coins is based on the open source encryption protocol and is not governed by any central authority.
Although Litecoin is almost identical to Bitcoin (BTC), it differs from Bitcoin and other crypto coins by technical features such as in Acceptance of Separate Witnesses and Lightning Network Lit. These effectively reduce the potential bottlenecks encountered in Bitcoin, allowing the network to process more transactions within a specified time period.
The payment cost of Litecoin is almost zero and is about four times faster than Bitcoin.
History of Litecoin
Litecoin was released on October 7, 2011 by former Google employee Charlie Lee through an open source client at GitHub. As a branch of the Bitcoin Core client; Firstly, the block generation time was reduced and then the maximum number of coins, different hash algorithm (instead of scrypt, SHA-256) and a slightly modified GUI.
In November 2013, the total value of Litecoin experienced a massive growth of 100% in 24 hours.
Litecoin’s value reached $ 1 billion in November 2013. As of May 9, 2017, the market value was approximately US $ 1,542,657,077, which was approximately US $ 30 per crypto money.
In May 2017, Litecoin was the first crypto coin to adopt Distinguished Witness from the 5 highest market-valued currencies. In May of the same year, the first Lightning Network transaction was completed by transferring 0.00000001 LTC from Zurich to San Francisco in under a second.
The version of Litecoin was released in November 2013. With this release, security fixes and advanced security measures have been added to the Litecoin network.
The Litecoin developer team released version 0.8.6.1 at the beginning of December 2013. The new release provided a 20-fold reduction in transaction fees and other security and performance improvements on the customer and the network. Source code and binary files, “#litecoin” IRC channel people, the official Litecoin forums and Reddit, power users to the configuration file for a Litecoin super button was given the news, the main site is updated after running a new version of the network. This release method was also used to ensure that the client is not postponed by clients running older versions of low-cost transactions from version 0.8.6.1 clients.
In April 2014, a new version of Litecoin was released, version 0.8.7.1. This release also corrected some minor issues, as well as a major fix on the Heartbleed security error.
Litecoin Differences from Bitcoin
Litecoin offers three important differences from Bitcoin.
· The Litecoin Network works to process a block every 2.5 minutes rather than 10 minutes of Bitcoin, where its developers allow faster process approval. Litecoin is also stronger in the face of a double attack than Bitcoin.
· Litecoin uses scrypt, a consecutive memory-fixed function that requires more memory asymptotically than a non-memory algorithm in the proof of employment algorithm.
· The Litecoin Network will produce 4 times more crypto-coins than the Bitcoin Network, equivalent to 84 million.
How much is the Litecoin (LTC)?
Litecoin, which has been at 3 US Dollars for a long time, rose rapidly as of March 20, 2017 and reached to $ 49 on 3 July 2017.
As of 17:16, Litecoin is quoted at TL 357.77 in TL terms and $ 58.35 in US dollar terms as of 17:16.
Amazon Litecoin (LTC) Partnership started!
Charlie Lee received the Litecoin (LTC) and Amazon gift card, and thus the Amazon Litecoin (LTC) partnership was launched. Qualifying as a great experience, Lee said that using the Lightning Network, the purchase of a gift card with Litecoin (LTC) took place quickly and without problems.
In the recent Blockchain Cruise 2018 event, Charlie Lee summarized why Crypto coins are superior to traditional coins:
Resistance to censorship The most important feature of crypto coins. Governments cannot control crypto coins. It is also not possible to cancel transactions with transaction immutability. In addition, there is a cost to produce coins and a limited number of coins can be produced for this cost. In this case it helps to maintain the value of coins.
Charlie Lee did this by using a website called Bitrefill. It is possible to shop on Bitrefill using Litecoin (LTC), Bitcoin (BTC), Ethereum (ETC) Dogecoin (DOGE) and Dash. However, as of now, Litecoin (LTC) can be used in Amazon shopping. This is indicated on the website as follows:
You can shop from Amazon.com using Litecoin (LTC) for Amazon gift cards, Fire Stick, Echo, books, laptops, drones, hoverboard and everything else. Start living with crypto money!
Gift cards purchased with Litecoin (LTC) are available on Amazon.com. these cards have no expiration dates and can be used to shop for all products in the Amazon.
The process of importing gift cards using Litecoin (LTC) takes place in the following way:
First you select the amount of the coupon or gift card you want to buy. Then you choose what you mean by crypto money.
As you open your wallet with crypto money, your address is then pasted or you are scanning the QR code.
Your gift card is ready for use when your order is approved.