Litecoin Price, News and Analysis (LTC)

Litecoin LTC - provides faster transaction confirmations (2.5 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have - which are its main differentials to Bitcoin. The Litecoin network is scheduled to produce 84 million currency units with a halving in reward every four years just like bitcoin. The coin was created by a Google employee, Charles Lee. Litecoin is in second spot to Bitcoin and has spawned numerous clones - however it has a solid base of support and dedicated development team. The Litecoin project is currently maintained by a core group of 6 software developers, led by Charles Lee, with a large community that is growing in support. In May 2017, Litecoin became the first of the Top 5 (By Market Cap) cryptocurrencies to implement the SegWit scaling solution. Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in under one second. (Description provided by CryptoCompare)

- Faster transaction confirmations (2.5 minutes on average) - Scrypt-based mining proof-of-work algorithm - 84 million litecoins - Higher transaction volume than Bitcoin - MIT/X11 license   (Information provided by CryptoCompare)

It is not possible to buy most cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum and Litecoin can be purchased with U.S. dollars using Coinbase. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance or Changelly to purchase other cryptocurrencies.

Litecoin produces its own wallet software that is available for download on its website, which allows you to store Litecoin on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano S. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

One Litecoin (LTC) is currently worth $45.28 on major cryptocurrency exchanges. You can also exchange one Litecoin for 0.00423807 bitcoin(s) on major exchanges. The value (or market capitalization) of all available Litecoin in U.S. dollars is $2.97 billion.

Litecoin is a proof of work (PoW) coin that uses the Scrypt algorithm.

Litecoin and other Scrypt coins can typically only be mined profitably with a piece of specialized mining hardware called an ASIC, which stands for application-specific integrated circuit. Major manufacturers of ASICs include BitMain (AntMiner), Butterfly Labs, Canaan (AvalonMiner), FutureBit and GridSeed. ASIC hardware can be purchased directly from the manufacturer or from resellers on Amazon and eBay.

The following coins use Litecoin's Scrypt algorithm and proof of work (PoW) proof-type: UNUS SED LEO, Dogecoin, Advanced Internet Blocks, Bytom, Verge, Syscoin, XeniosCoin, Hellenic Coin, Polymath, Precium, NEXT, Einsteinium, Lightning Bitcoin, GameCredits and Viacoin.

The official Reddit community (subreddit) for Litecoin is r/litecoin.