LITECOIN - brainchild of a former Google employee

Hello Friends !!

Lets discover about Litecoin today.

Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a Google employee. The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.

Litecoin reached a $1 billion market capitalization in November 2013. In May 2017, Litecoin became the first of the top 5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zürich to San Francisco in under one second. In February 2018, the online retailer Alza.cz began accepting Litecoin as a payment method.

Official Website : https://litecoin.org/

In short, Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.

At present, Litecoin (LTC) ranks as the 5th among top 10 cryptocurrencies by market capitalization according to CoinMarketCap. Further, its market capitalization stands at $4.71 billion, the lowest level till today.

References : 1. (https://en.wikipedia.org/wiki/Litecoin) 2. https://commodity.com/cryptocurrency/litecoin/