Litecoin (LTC) | Aussie Stock Forums

Litecoin was forked from Bitcoin in 2011 by Charlie Lee. It has a total of 84 million coins and uses scrypt hashing algorithm, instead of SHA-256 that Bitcoin uses. Block time is about 2.5 minutes, Lightning/Atomic Swaps have been tested on Litecoin and Segwit has also been applied.

Often referred to as 2nd place behind Bitcoin (BTC) or Silver/2nd place, Bitcoin’s little brother.

New technology is usually tested on Litecoin before it goes live on Bitcoin. Kind of a testing ground.

Charlie Lee left Litecoin in Dec 2017 to avoid conflict of interest.

Max Supply – 84 million coins
Block time – 2.5 minutes
Algorithm – Scrypt
Transaction fees – 0.01 lites per kB (0.00001 LTC)
Scalability – 56 tx/s
Supported by Ledger and Trezor (Hardware Wallets)

LTC Chart 02.png

Upcoming protocols to Litecoin (kind of a roadmap)

MAST
Lightning Network
Atomic Swaps
Covenants
Colored Coins
Confidential Transactions

Very interesting times we live in.