Litecoin Forecasts and News
What is Litecoin
Litecoin is a cryptocurrency that defines itself as peer-to-peer, and specifically represents an open source software project, which was released with the MIT / X11 license.
It was inspired by an already existing and well-known cryptocurrency, namely Bitcoin, going to pick up the same trend also from a decidedly more technical point of view.
As for the issue of minting and also of the transaction, with Litecoin everything happens through an open source protocol and an aspect that concerns Litecoin is to be a cryptocurrency that is not controlled by any central authority.
What is Litecoin used for
Litecoin fits into the financial world as a cryptocurrency to make investments, or simply as a digital currency to shop online. Its use is mainly related to the fact that it is practically an evolution of Bitcoin, a currency from which inspiration was taken, but making it much leaner in transactions.
To make Litecoin more performing is the fact of possessing many possibilities in reaching a greater number of virtual portfolios, an aspect that for an investor appears to be a significant added value, and moreover, you can count on a higher maximum limit than Bitcoin, that is 84 million against 21.
So, as regards financial transactions, Litecoin lends itself very well to diversifying its portfolio, with a consequent profit gain.
Is Litecoin minable?
The answer to the question is yes, Litecoin is mineable, but compared to Bitcoin the procedure is more complex. To send Litecoin, every transaction you make must be entered in a block.
The figures in charge of verifying these transactions, that is the miners, will carry out the necessary checks on the transactions through specific work tests. Miners proceed to accurately verify incoming transactions against previous ones on the blockchain.
In the event that no duplicates are found, the miners will take care of creating a block with new transactions inside and will subsequently add it to an existing Litecoin one.
One thing to pay attention to is that to carry out mining Litecoin requires the use of large quantities of electricity and even time, so in the long run it is something that is not cheap .
However, it seems that the general benefits from Litecoins end up making this digital currency very interesting anyway.
Litecoin forecasts and news
See the latest forecasts e litecoin quotes
- News Crypto and cryptocurrencies
Litecoin moves towards greater privacy with MingleJingle
yes Litecoin, the eighth cryptocurrency in terms of market capitalization, also appears to be heading towards greater levels of privacy. A request…
Read " - News Crypto and cryptocurrencies
Litecoin grows by 52% in just one week
Over the past week, Litecoin has posted growth in the order of 52%. Going from 75 to almost 115 ...
Read " - News Crypto and cryptocurrencies
Litecoin and Cardano design a bridge between them
Litecoin and Cardano are two of Bitcoin's biggest competitors. A role played thanks to the goodness of the respective projects, ...
Read " - News Crypto and cryptocurrencies
Nexo and Litecoin agreement: a partnership to increase the adoption of cryptocurrencies
Agreement between Nexo and Litecoin for a new partnership designed to increase the adoption of digital currencies and the blockchain system. ...
Read " - News Crypto and cryptocurrencies
Pornhub opens to Bitcoin and Litecoin
Pornhub, the ninth most visited website in the world, has announced that it will accept Bitcoin and Litecoin as payment options…
Read " - News Blockchain
Litecoin: the hashrate collapsed 7 months after halving
Litecoin hit a new low after the halving in August 2019. The highest peak compared to this has been reached…
Read " - News Crypto and cryptocurrencies
Litecoin: is the right time for its restart?
Although it has not always fared well, Litecoin is still the seventh cryptocurrency in terms of market cap. The…
Read " - News Crypto and cryptocurrencies
Litecoin's Charlie Lee is against DeFi and does not believe in this system
Charlie Lee, founder of Litecoin's cryptocurrency, has publicly stated that he does not believe in DeFi in any way. Yesterday he ...
Read " - News Crypto and cryptocurrencies
Litecoin (LTC): announced the new updates for the MimbleWimble protocol
Yesterday, Litecoin founder Charlie Lee announced the implementation of the MimbleWimble protocol…
Read " - News Blockchain
Litecoin: a record of transactions on the blockchain
Over the last few days, the transactions carried out on the Litecoin (LTC) blockchain have gone from 20 per day, to a ...
Read "