Interesting Facts About Litecoin That You Should Know

Facts about Litecoin

Litecoin is a digital currency that is very similar to Bitcoin. But its main feature is that conducting transactions in this cryptocurrency is almost instantaneous due to the introduction of SegWit and Lightning Network technologies. This allowed her to conduct instant transactions, and the commission for transfer is lower.

Capitalization of this currency is calculated in billions. It attracted the attention of large investors because its cost is much lower than that of Bitcoin. Nevertheless, the price is constantly increasing due to the constant growth in demand. It is also called “cryptocurrency silver”, that implies second place after the golden Bitcoin, as well as the ability to freely pay with this currency in many online and offline stores. It is available to a wide range of users.

Interesting facts about Litecoin, the exchanges started trading Litecoin in July 2012, its value until spring 2013 was only 10 cents and was not in special demand. But in March, its price jumped sharply to $ 4, and in November the cost reached $ 48. After the currency has been updated, the price reached $ 100. Litecoin quickly took second place in terms of capitalization in the cryptocurrency rating. Now he has given way to Ripple and Ether.

Interestingly, Charles Lee did not initially set himself the task of creating a new cryptocurrency, he just wanted to improve Bitcoin. The idea was to create an alternative currency in case something happens to Bitcoin. In the past, Charles Lee worked as an engineer in Google Software.

Facts About Litecoin

  • Litecoin has a limit of 84 million.
  • The LTC address has 33 characters, starting with L, 3 or M.
  • The crypt is extracted using video cards, the generation of one block is 2.5 minutes.
  • Litecoin security is higher than Bitcoin since it uses more sophisticated encryption.
  • In October, the Waves platform opened the possibility of payment by Lightcoin in its payment system.
  • In December, the cost of LTC reached $ 300. Charges of price fluctuations against the creator of this crypt fell, after which Charles Li got rid of all his coins.
  • In April of the 18th, the US payment system Aliant became the official company that first introduced LTC cryptocurrency.
  • It became possible to translate Litecoin into rubles, earlier it was possible in dollars and only then at the bank’s exchange rate in rubles.
  • On April 19 of the same year, a transaction for 700,000 Litecoin occurred between the uncertain persons, which was 93 million dollars at the exchange rate of that time, the transfer process took about 150 seconds, and the commission was only 40 cents.
  • The historical maximum price of the course 1 LTC = $ 375.29.
  • The historical minimum price of the course 1 LTC = $ 1.11.
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