Litecoin is a peer-to-peer cryptocurrency based on the protocol of it’s predecessor Bitcoin. Litecoin is an open source project, released under the MIT/X11 license and differs in a few ways with Bitcoin. Litecoin can be mined efficiently with consumer-grade hardware and provides faster transaction confirmations (2.5 minutes on average) as it uses a memory-hard, scrypt-based proof-of-work algorithm to target the regular computers and GPUs most people already have. 84 million currency units will be in existence after the last block of Litecoin is mined. As of late 2013 Litecoin has reached a market cap of over $500 million USD and received extended coverage by mainstream media such as Forbes, CNBC, The New York Times and other international media outlets.
Learn more about Litecoin
|Symbol / Tag||LTC|
|Genesis Block Created||Saturday, October 08, 2011 06:29:19 GMT|
|Block Time||2.5 Minutes|
|Total Coins to be Issued||82,000,000|
|Downloads||Linux, Mac, Windows|
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To get started with Litecoin you first need to download a wallet for your particular device and operating system. A Litecoin wallet stores your private keys and enables you to send and receive litecoin. Please visit our guide where we explain the best practices you can implement to help keep your holdings secure. You can choose between desktop, mobile, web or hardware wallets designed for a variety of operating systems below:
The easiest way to buy Litecoin is through a cryptocurrency exchange. There exist a variety of exchanges where you can trade litecoin for Bitcoin or other cryptocurrencies. Below you’ll find exchanges currently trading Litecoin:
The Litecoin mining process involves compiling recent transactions into blocks while trying to solve a computationally difficult puzzle. The first participant (miner or group of miners) who solves the puzzle gets to place the next block on the blockchain and claim the rewards. The rewards incentivize miners to uphold and secure the Litecoin network. Be sure to read our quick-start guide on some of the intricacies that are involved with mining cryptocurrencies. Below you’ll find Litecoin mining software and hardware you can use to be a successful miner.