Litecoin

Litecoin
Official Litecoin logo
Denominations
PluralLitecoins
SymbolŁ[citation needed]
CodeLTC
Precision10−8
Subunits
 1⁄1000lites,[1] millilitecoin, mŁ
 1⁄1000000microlitecoins, photons, μŁ
 1⁄100000000litoshis
Development
Original author(s)Charlie Lee
Initial release0.1.0 / 7 October 2011; 12 years ago (2011-10-07)
Latest release0.21.2.2[2] / 2 March 2023; 18 months ago (2023-03-02)
Code repositorygithub.com/litecoin-project/litecoin
Development statusActive
Project fork ofBitcoin [a]
Written inC++
Operating systemWindows, OS X, Linux, Android
Developer(s)Litecoin Core Development Team
Source modelOpen source
LicenseMIT License
Ledger
Timestamping schemeProof-of-work
Hash functionscrypt
Block rewardŁ6.25 (as of August, 2 2023), (halved approximately every four years)
Block time2.5 minutes
Circulating supplyŁ73,342,352 (12 July 2023)
Supply limitŁ84,000,000
Valuation
Exchange rateUS$105 (July 2023)
Administration
Issuing authoritydecentralized, block reward
Website
WebsiteOfficial website Edit this at Wikidata
  1. ^ Source code fork shouldn't be confused with hard forks or soft forks.

Litecoin (Abbreviation: LTC; sign: Ł) is a decentralized peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Inspired by Bitcoin, Litecoin was among the earliest altcoins, starting in October 2011.[3][4] In technical details, the Litecoin main chain shares a slightly modified Bitcoin codebase. The practical effects of those codebase differences are lower transaction fees,[5] faster transaction confirmations,[4] and faster mining difficulty retargeting. Due to its underlying similarities to Bitcoin, Litecoin has historically been referred to as the "silver to Bitcoin's gold."[6][7][8] In 2022, Litecoin added optional privacy features via soft fork through the MWEB (MimbleWimble extension block) upgrade.[8][9]

  1. ^ renaming of mLTC/μLTC to lites/photons https://github.com/litecoin-project/litecoin/pull/375 Archived 2021-12-08 at the Wayback Machine
  2. ^ "Litecoin v0.21.2.2". litecoin.org. 2 March 2023. Retrieved 2024-03-05.
  3. ^ "Ex-Googler Gives the World a Better Bitcoin". WIRED. Archived from the original on 2018-07-09. Retrieved 2017-10-25.
  4. ^ a b Gibbs, Toby; Yordchim, Suwaree (2014). "Thai Perception on Litecoin Value" (PDF). International Journal of Social, Education, Economics and Management Engineering. 8 (8): 2589–2591. Archived (PDF) from the original on 2022-07-22. Retrieved 2022-07-14.
  5. ^ Miglietti, Cynthia; Kubosova, Zdenka; Skulanova, Nicole (20 May 2019). "Bitcoin, Litecoin, and the Euro: an annualized volatility analysis". Studies in Economics and Finance. 37 (2): 229–242. doi:10.1108/SEF-02-2019-0050. S2CID 199363476.
  6. ^ Mandjee, Tara (2014). "Bitcoin, its legal classification and its regulatory framework". Journal of Business & Securities Law. 15. Archived from the original on 2022-07-15. Retrieved 2022-07-15.
  7. ^ Jumaili, Mustafa Lateef Fadhil; Karim, Sulaiman M (2021). "Comparison of two cryptocurrencies: Bitcoin and Litecoin". Journal of Physics: Conference Series. 1963 (1): 7. Bibcode:2021JPhCS1963a2143J. doi:10.1088/1742-6596/1963/1/012143. S2CID 236441485.
  8. ^ a b Ismail, Ashiana. "Permissioned blockchains for real world applications." PhD diss., 2020.
  9. ^ Hake, Mark R. (February 14, 2022). "Litecoin Should See Broader Appeal With New Privacy Technology". Nasdaq. Archived from the original on July 15, 2022. Retrieved July 14, 2022.