litecoin coverLitecoin 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

Name Litecoin
Symbol / Tag LTC
Genesis Block Created Saturday, October 08, 2011 06:29:19 GMT
Hashing Algorithm Scrypt
Validation System Proof-of-Work
Block Time 2.5 Minutes
Total Coins to be Issued 82,000,000
Source Code Github
Website http://Litecoin.org
Forum https://Litecointalk.org
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:

coinbase wallet logo
Coinbase is the world’s most popular bitcoin, ethereum, and litecoin wallet. We make it easy to securely buy, use, store, and accept bitcoin, ethereum, and litecoin.

ledger wallet logo
Ledger Nano is a Bitcoin wallet on a smartcard device, small format and low weight. Comfortable and simple to use, you connect it directly to a USB port to manage your account, protect your bitcoins and make safe payments.

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:

bittrex logo
Built and operated in the United States, Bittrex is the next generation crypto trading platform created by security professionals with more than 50 years of combined security and development expertise.

poloniex logo
Founded in January 2014 and based in the United States, Poloniex is a leading digital asset exchange offering a wide variety of digital assets.

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.

Mining Software

cgminer bitcoin mining software
Litecoin miners perform complex calculations known as hashes. Each hash has a chance of yielding litecoins. The more hashes performed, the more chances of earning litecoins. Most people join a mining pool to increase their chances of earning litecoins. Mining pools pay for high value hashes known as shares.

Mining Hardware

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