A Brief History of Litecoin (LTC)
The BattleHashes project recently added three new cryptocurrencies for the game. All three of these digital currencies are the most effective assets in the cryptocurrency economy, and we decided to tell our users a little of the story about each coin.
The first of our coins is Litecoin (LTC) — one of the earliest cryptocurrencies, created in 2011 by developer Charlie Lee. Over the years, Litecoin is often called “silver”, and Bitcoins — “gold” and it is a popular cryptocurrency. LTC virtual currency is a form of bitcoin code base, but has several differences. The blocking time is 2.5 minutes, which speeds up LTC transactions, and the protocol uses another consistent mechanism, called “scrypt”, not “SHA-256”, used by miners to check the work in bitcoins. Currently in circulation is 63 million LTC, and the maximum capitalization is 84 million coins.
LTC has always been a well-known digital asset since its first release and achieved a market capitalization of $ 1 billion two years after its launch in 2013. For a very long time, LTC was the second and third largest cryptocurrency market valuation. Today, Litecoin is the sixth largest market capitalization among the 3,000 other cryptocurrencies registered today. The coin’s market valuation is $ 3.6 billion, and each LTC today averages about $58 per coin.
In May 2017, LTC adopted the Segregated Witness protocol, which included the Bitcoin update process this year. Last spring, the cryptocurrency Litecoin made its first transaction, the Lightning Network, from Zurich, Germany, to San Francisco. Litecoin developer Charlie Lee returned to the development team last year after a short break in Coinbase work, and the coin has an ambitious development plan.
Here are a few reasons why investing in cryptocurrencies such as Litecoin (LTC):
- Speed. Litecoin transactions are faster due to a 2.5 minute blocking time difference, unlike BTC every 10 minutes.
- Mining. Litecoin proponents like the mining distribution method for scrypt mining LTC, which is considered a fairer model.
- Digital deficit and liquidity. Litecoin has a lot more coins than BTC, and in the end, miners will produce 84 million LTC. This adds both a digital deficit to these tokens and increasing market liquidity.
- Experimentation. LTC developers added Segregated Witness and processed Lightning transactions well before BTC. At the same time, LTC supporters believe that the development team is more willing to test and test the new code.
BattleHashes happily added Litecoin to our line of cryptocurrency options, as a digital asset is a top-class virtual currency. Therefore, today you can buy LTC in the mass of available places and play BattleHashes.
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