Bitcoin’s little brother
The Lemon to your Lime
Information + Resources
Litecoin (LTC) is an older peer-to-peer cryptocurrency that began in 2011. As of June 15, ’17 it is the 6th largest cryptocurrency. The idea behind Litecoin was to provide about the same functionality as Bitcoin but with 4X greater capacity and speed. It has survived and gained value over the years, and has dramatically increased functionality with the recent Segwit (Segregated Witness) event and the future addition of smart contracts to the network.
Litecoin now aims to be even faster and have much broader functionality than Bitcoin, though it works closely with the Bitcoin community and assists their development. Litecoin seeks to be integrated for everyday use whereas Bitcoin’s network is currently too slow and volatile to handle that kind of demand. As of May 29, ’17 they are also currently developing the technology for decentralized trade so this can be done without relying on the integrity of exchanges.
On May 30th, Yours Network (think Reddit but ad-free and LTC-based) launched with Litecoin as its currency after it dropped Bitcoin, in the wake of the Bitcoin network’s slowness and slow upgrade process. This is one of the newly emerging networks, like Steemit or LBRY Credits, and is worth watching for sure.
// Written May 29, ’17. Price at the time: $25 / LTC
// Edited June 15, ’17. Price at the time: $30 / LTC
// Edited June 18, ’17. Price at the time: $45 / LTC
// Edited June 29, ’17. Price at the time: $41 / LTC