Coins: 1855
Exchanges: 114
BTCBTC Dominance: 38.4%
ETHETH Dominance: 17.3%
LTC
USD

Litecoin (Overview)

Complete Metrics Score
Total72%
Major Exchanges Trading Activity
Liquidity83%
Source Code Repository Activity
Developer89%
Social Media & Discussion Board
Community67%
Coin Price $120.0868
Market Cap $6,804,775,357
Trading Volume $306,427,281
24h Low / 24h High $116.56372 / $129.36870
Ath $360.66176169
Ath Change
-67%
Ath Date 2017-12-18 (5 months)
24h
-7.2%
7d
-14%
14d
-24%
30d
-17%
60d
-28%
1y
280%
# Exchange Pair Price 24h Volume Volume %
1
Updated 1 minute ago
$120.78
120.1571 USDT
$55,662,867.99
460878.244 LTC
30.41%
2
Updated 1 minute ago
$121.06
0.01593133 BTC
$55,248,171.61
456378.915 LTC
30.2%
3
Updated 1 minute ago
$120.25
120.25 USD
$38,523,015.81
320357.720 LTC
21.06%
4
Updated less than a minute ago
$120.82
0.015906 BTC
$17,300,015.44
143184.000 LTC
9.46%
5
Updated less than a minute ago
$120.00
120 USD
$16,207,455.44
135062.129 LTC
8.86%
3031
Stars
544
Watchers
1926
Forks
42
Contributors
91
Merged Pull Requests
259 / 270
Closed Issues / Total Issues
About

Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware such as GPU to mine those coins.

Why Litecoin?
Litecoin is a cryptocurrency that has evolved from Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin’s 10 minutes.

‘While this matters little to traders, miners who use hardware to run Bitcoin’s network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained.

As explained above, Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that investors need to know before trading. According to Coindesk, Litecoin can handle higher volumes of transactions because of the capability of transacting faster and if Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks'. The faster block time of litecoin reduces the risk of double spending attacks - this is theoretical in the case of both networks having the same hashing power.

Litecoin Technical Details:
The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin's 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units.

Litecoin has inspired many other popular alternative currencies (eg. Dogecoin) because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.

Litecoin, an altcoin of the better known cryptocurrency Bitcoin, has soared to the record high of $290.99, a YTD increase of more than 4,000%, as listed on CoinMarketCap. Many are asking why the price of digital currencies has and is rising, whether Litecoin’s recent price increase is because of Bitcoin and if this bubble will burst.

Genesis Date October 08, 2011 (over 6 years)
Hashing Algorithm

Scrypt

Hashrate

408 TH/s Try Cloud Mining

Block Time

2.5 Minute

Announcement

Bitcointalk Thread

Discussion Forum

https://litecointalk.org/

Chat

Available/Total Supply

56.7 Million / 84 Million