Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency released in October 7, 2011 by Charlie Lee, a former Google employee. and open source software project released under the MIT/X11 license . Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. While inspired by, and in most regards technically nearly identical to Bitcoin (BTC).
Litecoin became the first of the top-5 (by market cap) cryptocurrencies to adopt Segregated Witness. Later in May of the same year, the first Lightning Network transaction was completed through Litecoin, transferring 0.00000001 LTC from Zürich to San Francisco in under one second. The Litecoin market capitalisation reached US$18,000,000,000 on December 2017.
Litecoin Exchange Rates
Litecoin exchange rates in US dollar.
Litecoin vs US Dollar Chart
The Litecoin Blockchain
Monero’s blockchain protects privacy in three ways. Ring signatures enable the sender to hide among other transaction outputs, stealth addresses hide the receiving address of the transaction and RingCT hides the amount of the transaction. As a consequence, Monero features an opaque blockchain. This is sharp contrast with transparent and traceable blockchain used by Bitcoin. Thus, Monero is said to be “private, optionally transparent”.
Litecoin has two sets of keys, called a “view key” and a “spend key”.
View key can be separately shared to enable optional transparency. However, the system is designed to ease processing on mobile devices, as it is impossible to calculate an accurate wallet balance without a spend key.
How to Buy and Sell Litecoin online
Step 1 : Click here to Register an account.
Step 2 : Go to the main page and in the search box fill in the form with the amount you want to buy in your currency, your location and a payment method.
A user needs a client software, a so-called wallet, to interact with the Litecoin network. The Litecoin Project produces the reference implementation of a Litecoin wallet. This implementation is broken up into three parts. The main software daemon is called monerod and it is responsible for reading the blockchain and claiming the user’s transactions. Litecoin wallet GUI is responsible for managing the user’s account, also known as wallet address, and generating new transactions. Finally, Monero GUI allows the user to interact with the aforementioned components through a graphical user interface. All of the software produced by
Litecoin Futures Trading
Futures contract on Litecoin (LTC) are alrady offer at some cryptocurrency exchange like BitMEX. On BitMEX, the XMR derivative is in the form of a Futures Contract and allows traders to speculate on the future value of the Litecoin / Bitcoin (LTC/XBT) exchange rate. Traders need not have Monero to trade the futures contract as it only requires Bitcoin as margin.
Traders who think that the price of the Litecoin (LTC) will rise will buy the futures contract. Conversely, traders who believe the price will drop will sell the futures contract.