Major Korean exchanges delist Litecoin due to its new privacy features
South Korean crypto exchanges Upbit and Bithumb will delist Litecoin because of its newly activated privacy features.
84% of total supply
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Litecoin is a cryptocurrency that uses a faster payment confirmation schedule and a different cryptographic algorithm than Bitcoin.
According to the Litecoin (LTC) website, “Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.” If you’re familiar with Bitcoin, this definition might sound similar. That’s because Litecoin is based on Bitcoin’s open source codebase, but with a few technological differences.
Litecoin was created as a fork of Bitcoin in 2011. A fork happens whenever a community makes a change to the blockchain's protocol, or basic set of rules. Forks create a second blockchain that shares all of its history with the original, but is headed off in a new direction. So what’s the difference? Litecoin branched off from Bitcoin to test new innovations, including a different proof of work mining algorithm. The digital asset also aims to offer faster transaction times and lower costs than Bitcoin.
Like Bitcoin, Litecoin is a digital currency, which can be used to buy things at places where it’s accepted, and to transfer funds between accounts.
Litecoin’s speed and relatively low fees make it appealing as a payment option and means of transferring value, but the network has significantly fewer miners than Bitcoin, which could have an impact on the overall security of the network.
Like Bitcoin, Litecoin has a fixed supply: there will only ever be 84 million LTC.
Specialized computers known as ‘mining rigs’ perform the equations required to verify and record a new Litecoin transaction. In the early days, a typical desktop PC was powerful enough to participate, which allowed pretty much anyone who was curious to try their hand at mining.
These days the computers required are massive, specialized, and often owned by businesses or large numbers of individuals pooling their resources.
You can buy Litecoin through several crypto exchanges, including Coinbase.
Released: October 2011
The price of Litecoin has risen by 5.21% in the past 7 days. The price declined by 2.70% in the last 24 hours. In just the past hour, the price shrunk by 0.31%. The current price is $55.75 per LTC. Litecoin is 86.50% below the all time high of $412.96.
The current circulating supply is 70,597,718.778 LTC.
Litecoin was mentioned in 2,637 out of 1,619,396 social media posts on Twitter and Reddit on Jun 26, 2022. 3,192 unique individuals are talking about Litecoin and it is ranked #64 in most mentions and activity from collected posts.
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