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What is Litecoin


Litecoin - this peer kriptovalyutny and open software project released under the MIT / X11 license. Creating and sending coins based on a cryptographic protocol of open source software and is not controlled by any central authority. The coin was inspired by, and the technical details are almost identical, Bitcoin (BTC).

Litecoin was released by the client with open source on GitHub October 7, 2011 Charlie Lee, Google employee. Litecoin network aired October 13, 2011. It was client plug Bitcoin Core, characterized primarily by the presence Acronym generating unit time (2.5 minutes), the increase in the maximum number of coins of different hashing algorithm (scrypt, instead of SHA -256) and slightly modified GUI.

In November 2013, the aggregate value Litecoin experienced considerable growth, which included a 100% jump for 24 hours. In November 2013 Litecoin reached a market capitalization of $ 1 billion. In May 2017 Litecoin was the first of the top five (by market capitalization) kriptokonversy for making Segregated Witness. Later in May the same year, the first transaction Lightning Network was completed through Litecoin, moving 0,00000001 LTC from Zurich to San Francisco in one second.

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