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Bitcoin
$92,525.43
0.60% -
Ethereum
$3,104.79
-0.75% -
Tether USDt
$1.00
0.02% -
Solana
$234.81
-3.61% -
BNB
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-1.13% -
XRP
$1.09
-2.83% -
Dogecoin
$0.3874
-0.62% -
USDC
$0.9999
0.00% -
Cardano
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3.30% -
TRON
$0.1978
-3.97% -
Shiba Inu
$0.0...02436
-3.68% -
Avalanche
$33.82
-4.96% -
Toncoin
$5.42
-3.79% -
Sui
$3.80
-0.44% -
Chainlink
$14.47
-3.83% -
Polkadot
$5.81
-2.51% -
Bitcoin Cash
$438.17
-4.54% -
Pepe
$0.0...02028
0.25% -
UNUS SED LEO
$8.44
8.33% -
Stellar
$0.2350
1.52% -
NEAR Protocol
$5.59
-6.67% -
Litecoin
$85.12
-5.34% -
Aptos
$11.50
-2.55% -
Uniswap
$9.07
-1.66% -
Dai
$0.9996
-0.03% -
Cronos
$0.1822
8.24% -
Hedera
$0.1240
-12.42% -
Internet Computer
$9.12
-3.36% -
Render
$8.07
7.23% -
Bonk
$0.0...05538
11.95%
What is Litecoin? Introduction to the issue price, total volume and white paper of Litecoin
Litecoin is a decentralized digital currency with a faster block generation time, larger maximum supply, and lower transaction fees compared to Bitcoin.
Oct 10, 2024 at 02:18 am
What is Litecoin?
Litecoin is a decentralized digital currency created by former Google employee Charlie Lee in 2011. It is based on the Bitcoin protocol but has some key differences, including a faster block generation time of 2.5 minutes compared to Bitcoin's 10 minutes, a larger maximum supply of 84 million coins compared to Bitcoin's 21 million, and the use of the Scrypt hashing algorithm instead of Bitcoin's SHA-256 algorithm.
Issue Price
Litecoin was initially released on October 7, 2011, with an issue price of $0.01 per coin.
Total Volume
The total volume of Litecoin is capped at 84 million coins, which is four times that of Bitcoin. This larger supply allows for a greater number of transactions and reduces the volatility of the currency.
White Paper
Litecoin's white paper, published in 2011, outlines the technical specifications of the currency, including its block generation time, maximum supply, and hashing algorithm. The white paper also discusses Litecoin's potential use cases, such as everyday payments and remittances.
Key Features of Litecoin
- Faster block generation time: Litecoin's block generation time of 2.5 minutes is significantly faster than Bitcoin's 10 minutes, allowing for quicker confirmation of transactions and reduced wait times for users.
- Larger maximum supply: Litecoin's maximum supply of 84 million coins provides a larger base of coins for circulation and reduces the volatility of its price compared to Bitcoin.
- Use of Scrypt hashing algorithm: Scrypt is a memory-intensive hashing algorithm that is designed to be more resistant to ASIC mining (specialized hardware designed for mining cryptocurrency). This makes it more accessible for individuals to mine Litecoin with standard computer hardware.
- Low transaction fees: Litecoin's transaction fees are typically lower than Bitcoin's, making it a more cost-effective option for small transactions and everyday use.
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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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