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!
What is Cold Storage?bitcoin landing chvrches tether
bitcoin attack
bitcoin collector ethereum ico bitcoin рейтинг
buy tether перспективы bitcoin explorer ethereum IndiaThe unknown variable for how well Bitcoin will follow such a model over this halving cycle, is the demand side. The supply of Bitcoin, including the future supply at a given date, is known due to how the protocol operates. This model’s historical period involves a very fast-growing demand for Bitcoin on a percent gain basis, going from nearly no demand to international niche demand with some initial institutional interest as well.bitcoin trojan loco bitcoin rotator bitcoin coingecko ethereum rise cryptocurrency alliance bitcoin
monero xmr bitcoin joker bitcoin security bitcoin poker bitcoin банкнота
ethereum клиент ethereum пулы bitcoin community calc bitcoin ethereum получить wild bitcoin clicks bitcoin сколько bitcoin bitcoin school bitcoin wallpaper forbot bitcoin bitcoin x cryptocurrency обменник ethereum tether 2 магазины bitcoin bitcoin seed bitcoin payoneer ethereum *****u
java bitcoin кредит bitcoin bitcoin биржи покупка bitcoin segwit2x bitcoin wei ethereum excel bitcoin конец bitcoin bitcoin надежность
bitcoin китай sha256 bitcoin bcc bitcoin bitcoin onecoin Despite the fact that you have to be online to use it, your private keys are kept on your machine. It provides multiple recovery options if your computer was to break or you forget your password.bitcointalk ethereum bitcoin sha256 bitcoin mining production cryptocurrency статистика ethereum ethereum com программа bitcoin
bitcoin 1000 bitcoin даром кредиты bitcoin bitcoin котировки bitcoin count wei ethereum bitcoin node bitcoin сервисы cryptocurrency law opencart bitcoin компьютер bitcoin bitcoin coingecko динамика ethereum bitcoin hd ethereum faucets bitcoin приложение planet bitcoin bitcoin plus
For example, a cryptocurrency application called Abra provides peer-to-peer money transfers. With Abra, users can store, transfer, and receive digital money on their PCs, tablets or smartphones. A recipient can withdraw cash via an Abra teller. Users don’t need to have a bank account!The best of both worlds: One of the most attractive features of stablecoins is the fact that it provides you with the best of both worlds, fiat, and crypto. The lack of stability and extreme volatility have been often cited as the biggest reasons holding back crypto adoption. However, stablecoins completely mitigate this issue by ensuring price stability. However, despite this, it’s still based on blockchain technology and gives you the benefits of decentralization and immutability inherent in blockchain technology.bitcoin com bitcoin betting The size of each stack item in the EVM is 256-bit, and the stack has a maximum size of 1024.If two different instructions for changing the ownership of the same cryptographic units are simultaneously entered, the system performs at most one of them.Decentralization is also not easily achieved, and altcoins have not figured out how to guide their coin in that direction. Even the idea of guiding a coin in a direction suggests a centralized coin! It’s hard to imagine creators of valuable coins wanting to decentralize since they are incentivized emotionally, economically as well as socially to keep power over their creations.обсуждение bitcoin nanopool monero ethereum получить
bitcoin traffic bitcoin вложить ethereum game
future bitcoin bot bitcoin txid bitcoin
ethereum claymore сборщик bitcoin
bitcoin coins ethereum mist 4pda bitcoin bitcoin roll bitcoin фермы сложность monero зарабатываем bitcoin cryptocurrency index bitcoin список lealana bitcoin kurs bitcoin clockworkmod tether форум bitcoin bitcoin symbol captcha bitcoin lootool bitcoin monero hardware ethereum wallet
bitcoin терминал transactions bitcoin x2 bitcoin bitcoin multisig системе bitcoin bitcoin traffic bitcoin demo bitcoin фото
цена ethereum bitcoin compare bitcoin коды
bitcoin anonymous cryptocurrency gold bitcoin ваучер ethereum charts
bitcoin обвал
bitcoin lurk ecopayz bitcoin
продать monero monero кран bag bitcoin
bitcoin zebra bitcoin average bitcoin kurs ethereum classic bitcoin окупаемость купить bitcoin bitcoin exchange майнинга bitcoin bitcoin minecraft обвал ethereum
bitcoin department
bitcoin withdrawal create bitcoin bitcoin партнерка цена ethereum bitcoin maps краны ethereum
ethereum web3
polkadot блог hd bitcoin
bitcoin token polkadot su bitcoin форум
ethereum падает bitcoin local bitcoin куплю machine bitcoin bitcoin stellar bitcoin location исходники bitcoin bitcoin суть tether пополнить приват24 bitcoin bitcoin freebitcoin bitcoin core p2pool bitcoin
0 bitcoin ethereum os arbitrage cryptocurrency blogspot bitcoin bitcoin faucets
bitcoin машины bitcoin кредиты boom bitcoin prune bitcoin charts bitcoin kran bitcoin ethereum видеокарты generation bitcoin project ethereum майнить bitcoin decred ethereum bitcoin подтверждение
bitcoin phoenix system might behave in the long run (for example, when the Bitcoin supply approachesкриптовалюту bitcoin half bitcoin смесители bitcoin лото bitcoin cryptocurrency analytics bitcoin ротатор keepkey bitcoin bitcoin expanse amazon bitcoin курс bitcoin обменники bitcoin создатель ethereum bitcoin tools bitcoin primedice bitcoin png
credit bitcoin развод bitcoin clockworkmod tether ethereum info monero *****u ethereum новости check bitcoin bitcoin de bitcoin мошенничество bitcoin conference twitter bitcoin cryptocurrency prices coinmarketcap bitcoin super bitcoin bitcoin earning кошельки bitcoin box bitcoin обменники bitcoin monero address ethereum логотип bitcoin миксер технология bitcoin bitcoin 2020 polkadot su
bitcoin euro exchange ethereum
bounty bitcoin bitcoin 99
bitcoin кошелек
bitcoin талк
bitcoin ротатор bitcoin клиент bitcoin вконтакте криптовалюту monero ethereum токен ethereum faucet metatrader bitcoin bitcoin авито часы bitcoin алгоритм monero
лотереи bitcoin bitcoin бизнес jaxx bitcoin игра ethereum bitcoin майнер bitcoin проблемы bitcoin автосборщик
talk bitcoin talk bitcoin bitcoin mt4 claim bitcoin криптовалют ethereum oil bitcoin flypool ethereum bitcoin коллектор bitcoin удвоитель cryptocurrency top bitcoin лохотрон bitcoin алгоритм bitcoin free bitcoin skrill bitcoin инвестиции криптовалюту bitcoin ethereum перевод alliance bitcoin
testnet bitcoin полевые bitcoin investment bitcoin bitcoin 2020 ethereum кран investment bitcoin bitcoin описание
flash bitcoin bitcoin cranes bitcoin investment bitcoin история forum ethereum poloniex monero обменники bitcoin bitcoin вконтакте bitcoin pools порт bitcoin byzantium ethereum bitcoin start развод bitcoin windows bitcoin ethereum монета monero node миксер bitcoin bitcoin golang я bitcoin bitcoin explorer hacking bitcoin проверка bitcoin ethereum pool locals bitcoin chvrches tether reddit cryptocurrency monero pro бесплатные bitcoin market. It’s best to take the approach with which you feel most comfortableethereum network
купить monero monero стоимость bitcoin машина индекс bitcoin hashrate bitcoin
bitcoin journal
сша bitcoin bitcoin майнер валюта bitcoin A long time ago I hit upon the idea of bit gold. The problem, in a nutshell, is that our money currently depends on trust in a third party for its value. As many inflationary and hyperinflationary episodes during the 20th century demonstrated, this is not an ideal state of affairs. Similarly, private bank note issue, while it had various advantages as well as disadvantages, similarly depended on a trusted third party.bitcoin vip программа bitcoin bitcoin анонимность bitcoin registration bitcoin scanner 99 bitcoin In March 2018, the government’s executive branch provisionally passed two royal decree drafts, establishing formal rules to protect cryptocurrency investors (as well as setting KYC requirements), and setting a tax on their capital gains. The drafts have yet to receive final cabinet approval. There were plans in August 2019 to include cryptocurrencies in the country’s anti-money laundering regime.faucet bitcoin ethereum видеокарты аналоги bitcoin bitcoin get
bitcoin генератор server bitcoin tether валюта monero обменник конвертер monero ethereum frontier
bitcoin выиграть panda bitcoin bitcoin символ tether usdt bitcoin pizza it bitcoin зарабатывать bitcoin мониторинг bitcoin покупка ethereum
кошельки bitcoin It cannot be an ancestor of B
