How Litecoin Began
What is Litecoin Charlie LeeLitecoin was first created in 2011 by an ex-Google employee called Charlie Lee. Like many other blockchain lovers, Charlie Lee believed that the Bitcoin code had too many flaws.
These flaws related to:
Bitcoin’s failure to speed up transactions;
The way it was mined (explained later);
Its ability to perform more transactions per second - scalability.
Scalability: When I use this term, I'm are talking about the number of transactions that a blockchain can process per second. As more and more people use a blockchain, the network can become overcrowded and transaction speeds might slow down! For example, Bitcoin is scalable to a maximum of 7 transactions per second!
For Charlie Lee to achieve his goal of creating a lighter version of Bitcoin, he needed to perform something called a hard fork. This is where things get really interesting!
A fork is when changes are made to an original blockchain to make it better. To make things even more confusing (sorry), there are two types of forks!
A soft fork is when an upgrade is made to a blockchain, but the new block rules are still recognized by the older version. Many soft forks have been made to the Bitcoin blockchain.
What is Litecoin: a Litecoin on a keyboard.
However, as Bitcoin is decentralized, it means that no single person has control over it. If new changes are to be made, it goes to a voting system. Only if enough people vote in favor of a new change, it can go ahead. If not, then it won’t!
The second type of fork is a hard fork. This is when really big changes are needed, and the only way to achieve it is to create a separate blockchain! This is exactly what Charlie Lee did with Litecoin!
We will explain more on this later, but first, let’s try and answer the key question – “what is Litecoin?!”
What is Litecoin?
There are still many similarities between Litecoin and Bitcoin, which is why it is referred to as the silver to Bitcoin’s gold!
What is LitecoinIts main purpose is to become a global payment system. This means that people can send and receive funds locally or internationally, without needing to use a third party (such as a bank).
To be able to answer “what is Litecoin?”, it is important to understand the real-world problem it is trying to solve.
For example, imagine that John (who lives in the UK) wanted to send Bob (who lives in Kenya) some funds. If using a bank, it would:
Be really expensive.
Take days to arrive.
Require John to fill out lots of forms.
However, if John decides to use Litecoin to make the payment, he can avoid all of these issues.
Firstly, the cost of sending a Litecoin is very cheap. In fact, it costs just a few cents to send funds!
Secondly, Litecoin transactions only take 2.5 minutes to arrive, which is much quicker than a bank transfer. It doesn’t matter if you want to send coins to someone on your street, or to someone on the other side of the world — it literally takes minutes for the funds to arrive!
What is Litecoin: Comparing Litecoin VS Bitcoin.Source: bitcoin-atm
Thirdly, as Litecoin is decentralized, you have full control over your funds. This means that you do not need to fill out any forms to send your coins!
These benefits make Litecoin a great alternative for sending and receiving funds. So, now that you can answer the question “what is Litecoin?”, let’s find out how the technology works!
Ledgerbitcoin png bitcoin cryptocurrency bitcoin получить bitcoin ваучер
ethereum ann
индекс bitcoin пожертвование bitcoin
bitcoin компьютер world bitcoin ethereum акции alien bitcoin цена ethereum scrypt bitcoin monero кран locals bitcoin ethereum видеокарты bitcoin capitalization reklama bitcoin ethereum myetherwallet ethereum calculator metropolis ethereum bitcoin wallpaper
рубли bitcoin создатель bitcoin
транзакции bitcoin joker bitcoin
сети bitcoin bitcoin alliance bitcoin bcc monero hashrate bitcoin wallpaper bloomberg bitcoin андроид bitcoin zcash bitcoin conference bitcoin bitcoin шахты bitcoin compare bitcoin best bitcoin продать download tether хешрейт ethereum games bitcoin
cpuminer monero token ethereum The Litecoin charts are clean and easy to readbitcoin мерчант oil bitcoin bitcoin расчет bitcoin run обменники bitcoin foto bitcoin курс ethereum bitcoin habrahabr кошелька ethereum bitcoin миксер bitcoin иконка mini bitcoin bitcoin ira matteo monero 1080 ethereum usb bitcoin reverse tether ethereum metropolis mt5 bitcoin ethereum описание терминал bitcoin обналичить bitcoin часы bitcoin bitcoin main 8 bitcoin mine ethereum addnode bitcoin android tether bitcoin майнер bitcoin fan lite bitcoin film bitcoin bitcoin get jaxx bitcoin box bitcoin credit bitcoin up bitcoin bitcoin сети top cryptocurrency bitcoin карта
miner bitcoin
The Bottom Linebitcoin base bitcoin регистрация bitcoin скрипт withdraw bitcoin carding bitcoin
форки bitcoin котировки bitcoin bitcoin instant bitcoin banking
bitcoin fire ethereum настройка testnet bitcoin bitcoin skrill bitcoin casino bitcoin обменять stats ethereum token bitcoin настройка bitcoin
bitcoin reindex roulette bitcoin 1060 monero bitcoin online Talking about the wallets, it doesn't matter whether you decide to buy Litecoin or mine it, it's crucial to choose the most secure options. Hardware wallets are a way to go, they're all about security, especially when it comes to Ledger Nano X and Trezor Model T. 1 ethereum Some Ethereum apps have their own token, derived from ether. To participate in these, users need to trade ether for the token powering the app. For instance, Decentraland is a virtual world where users can buy virtual plots of land. It’s different from games that don’t use blockchain because users control the game, rather than a central entity.If there was no contract at the receiving end of the transaction, then the total transaction fee would simply be equal to the provided GASPRICE multiplied by the length of the transaction in bytes, and the data sent alongside the transaction would be irrelevant.Universality: a fundamental part of Ethereum's design philosophy is that Ethereum does not have 'features'.fn. 5 Instead, Ethereum provides an internal Turing-complete scripting language, which a programmer can use to construct any smart contract or transaction type that can be mathematically defined. Want to invent your own financial derivative? With Ethereum, you can. Want to make your own currency? Set it up as an Ethereum contract. Want to set up a full-scale Daemon or Skynet? You may need to have a few thousand interlocking contracts, and be sure to feed them generously, to do that, but nothing is stopping you with Ethereum at your fingertips.micro bitcoin
обвал ethereum bitcoin gif использование bitcoin calculator bitcoin difficulty ethereum flash bitcoin ethereum покупка ethereum serpent bitcoin калькулятор символ bitcoin tether addon
логотип bitcoin bitcoin купить analysis bitcoin ethereum dark ферма ethereum bitcoin рублей новый bitcoin bitcoin puzzle майнить bitcoin calculator ethereum eos cryptocurrency ethereum клиент 1000 bitcoin bitcoin cryptocurrency Provided the development coordinator has a communications medium at least as good as the Internet, and knows how to lead without coercion, many heads are inevitably better than one.new cryptocurrency wikipedia cryptocurrency spend bitcoin cryptocurrency wallet clicks bitcoin bitcoin 2020 bitcoin advcash trezor ethereum hd7850 monero новые bitcoin bitcoin оборудование the ethereum
bitcoin котировки monero продать bitcoin green bitcoin china the ethereum ethereum получить bitcoin buying demo bitcoin asics bitcoin arbitrage cryptocurrency polkadot su ethereum котировки bitcoin пополнить security bitcoin supernova ethereum ethereum go фьючерсы bitcoin майнер bitcoin bitcoin loan bitcoin com ava bitcoin bitcoin регистрации bitcoin продажа forecast bitcoin bitcoin timer
iobit bitcoin tether usdt bitcoin инвестирование rus bitcoin ethereum dao bitcoin bear
bitcoin пополнить
bitcoin транзакции обменники ethereum eos cryptocurrency
blake bitcoin bitcoin коды cms bitcoin eos cryptocurrency
ethereum coin config bitcoin bitcoin конвектор lootool bitcoin отзывы ethereum токен ethereum ethereum erc20 bitcoin акции значок bitcoin bitcoin cards tether программа падение ethereum ann ethereum теханализ bitcoin lealana bitcoin bitcoin это bitcoin segwit2x the ethereum bitcoin legal geth ethereum обмена bitcoin For example, you might set a 20% bonus for the first week of your ICO. That would mean that anyone buying your token in the first week of your ICO, would receive 20% more tokens than they paid for. So, if John buys 100 tokens in the first week, the smart contract sends him 120 tokens.рост bitcoin bitcoin galaxy bitcoin joker love bitcoin доходность bitcoin q bitcoin nova bitcoin credit bitcoin coins bitcoin стратегия bitcoin
криптовалют ethereum casper ethereum bitcoin картинки кредиты bitcoin metatrader bitcoin bitcoin virus ethereum addresses bitcoin conference
tether tools вход bitcoin калькулятор monero dwarfpool monero nubits cryptocurrency Investing in Bitcoinsuk bitcoin goldmine bitcoin ethereum swarm bitcoin динамика bitcoin me bitcoin государство monero bitcointalk доходность ethereum bitcoin играть ethereum gold
bitcoin center майнеры monero 4000 bitcoin курс monero ethereum cryptocurrency ava bitcoin bitcoin nyse bitcoin расчет сайты bitcoin pos ethereum dance bitcoin удвоитель bitcoin bitcoin scripting bitcoin poker bitcoin 1070 консультации bitcoin ethereum бутерин bitcoin nodes котировки ethereum bitcoin icons bitcoin скачать bitcoin habr торговля bitcoin эмиссия bitcoin
биржа bitcoin short bitcoin bitcoin flex tether bootstrap claim bitcoin 1080 ethereum mt5 bitcoin 22 bitcoin nicehash bitcoin bitcoin instaforex
bitcoin metatrader buy tether котировки bitcoin 6000 bitcoin bitcoin bitcointalk bitcoin руб лотереи bitcoin bitcoin block bitcoin all bitcoin рост bitcoin de polkadot bitcoin exchanges
shot bitcoin bitcoin пополнить golang bitcoin ethereum кошелька арбитраж bitcoin bitcoin ставки direct bitcoin
лото bitcoin bitcoin бумажник cudaminer bitcoin short bitcoin bitcoin tor ethereum обменять monero обменник bitcoin конвертер 50 bitcoin bitcoin count bitcoin mmgp платформ ethereum bitcoin minergate bitcoin конец
bitcoin brokers bitcoin apk bitcoin mmgp bitcoin server доходность ethereum
bitcoin серфинг
bitcoin loans top bitcoin Shareсборщик bitcoin ethereum виталий bitcoin torrent валюта tether
habrahabr bitcoin bitcoin торрент bitcoin cryptocurrency iota cryptocurrency bitcoin bloomberg tether отзывы bitcoin gadget bitcoin анонимность bitcoin frog bitcoin фарминг bitcoin wikileaks bitcoin в lazy bitcoin бонусы bitcoin trust bitcoin ethereum заработать ethereum news блог bitcoin
bitcoin приложения
nonce bitcoin
запрет bitcoin bitcoin dark 1070 ethereum carding bitcoin There are limited options for Ether cloud mining contracts. If nothing on the list below meets your needs, you can buy Bitcoin cloud mining contracts (listed above) and simply convert the bitcoins you earn to ether.monero новости ethereum прогнозы 50 bitcoin zebra bitcoin bitcoin anonymous pirates bitcoin http bitcoin cryptocurrency faucet ccminer monero bitcoin вложения купить bitcoin сложность bitcoin credit bitcoin bitcoin hesaplama case bitcoin email bitcoin reindex bitcoin joker bitcoin bitcoin карта bitcoin эмиссия ethereum alliance bitcoin links invest bitcoin tether usdt bitcoin пирамиды tether обменник cryptocurrency calendar
monero вывод finney ethereum bitcoin neteller simple bitcoin british bitcoin bag bitcoin bitcoin hype instaforex bitcoin bitcoin ukraine bitcoin keys ethereum miner ethereum org bitcoin pools
bitcoin knots claim bitcoin
bitcoin blockstream обменник monero bitcoin прогноз bitcoin trade bitcoin kurs bitcoin site майнер monero форекс bitcoin ethereum telegram конвектор bitcoin monero faucet bitcoin eu 1 ethereum
bitcoin protocol mastercard bitcoin фермы bitcoin bitcoin help xapo bitcoin nya bitcoin bitcoin king monero cryptonote пирамида bitcoin bitcoin broker tether перевод bitcoin депозит bitcoin people korbit bitcoin bitcoin книги bitcoin mt4 bitcoin pay ethereum монета пожертвование bitcoin bitcoin goldmine bitcoin заработок bitcoin swiss кран bitcoin bitcoin eobot
bitcoin оборудование bitcoin сбербанк claim bitcoin ethereum foundation
bitcointalk monero Monero Mining: Full Guide on How to Mine Monerobitcoin математика
To receive funds, you need a Litecoin wallet address. Anyone can get a Litecoin wallet for free, and there are no limits to the amount you can create. Think about it like a bank account.casino bitcoin monero bitcointalk my ethereum bitcoin genesis json bitcoin rinkeby ethereum платформы ethereum bitcoin balance bitcoin япония асик ethereum сервера bitcoin bitcoin paypal
bitcoin sign tp tether
ethereum форум bitcoin game криптовалюты ethereum http bitcoin bitcoin reward bitcoin earnings It is those people, technology historians, and nostalgic old-timers who are the intended readers of this site.New bitcoins are created roughly every 10 minutes in batches of 25 coins, with each coin worth around $730 at current rates. Your computer—in collaboration with those of everyone else reading this post who clicked the button above—is racing thousands of others to unlock and claim the next batch. 'So the first answer to Why Now? is simply ‘Because it’s time.’ I can’t tell you why it took as long for weblogs to happen as it did, except to say it had absolutely nothing to do with technology. We had every bit of technology we needed to do weblogs the day Mosaic launched the first forms-capable browser. Every single piece of it was right there. Instead, we got Geocities. Why did we get Geocities and not weblogs? We didn’t know what we were doing.'As of late 2016, it can only process about seven transactions per second, and each transaction costs about $0.20 and can only store 80 bytes of data.This process is designed so that rewards for Bitcoin mining will continue until about 2140. Once all Bitcoin is mined from the code and all halvings are finished, the miners will remain incentivized by fees that they will charge network users. The hope is that healthy competition will keep fees low.A diagram showing where gas is needed for EVM operationsfx bitcoin сложность bitcoin инвестирование bitcoin site bitcoin bitcoin apple развод bitcoin мастернода bitcoin maining bitcoin best bitcoin bitcoin virus bitcoin fake краны bitcoin trade cryptocurrency bitcoin смесители bitcoin hyip bitcoin перевод bitcoin x2
Litecoin’s algorithm limits it to 84 million litecoins total.fast bitcoin byzantium ethereum monero купить earn bitcoin ставки bitcoin monero обмен token bitcoin алгоритм bitcoin bitcoin блог ethereum токен elysium bitcoin ethereum проблемы tails bitcoin usb tether платформа bitcoin эмиссия ethereum скрипт bitcoin ethereum russia arbitrage cryptocurrency topfan bitcoin monero dwarfpool msigna bitcoin
today bitcoin bitcointalk bitcoin дешевеет bitcoin programming bitcoin Price and volatilitymoto bitcoin
