What is Litecoin (LTC)

Litecoin or LTC (LTC/USDT – Trade it here) is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. It is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.

What is Litecoin (LTC)
Dangerouslyboot.com

Litecoin Core Features

Litecoin has several features:

  • Open-source

Litecoin is an open-source software project released under the MIT/X11 license. This gives users the power to run, modify and copy the software, and to distribute users’ own modified copies of the software.

  • Decentralized

Litecoin is a peer-to-peer digital currency that enables instant, near-zero cost payments to anyone in the world, while no board, no central bank, and no CEO is needed. It is a truly global payment network that doesn’t rely on any central authorities.

  • Safe & Secure

The Litecoin network has run for 10 years without any downtime. Mathematics secures the network and empowers individuals to control their own finances.

Litecoin Ecosystem

The Litecoin Foundation is dedicated to consistently improving the Litecoin network, whilst supporting the development of exciting projects on the Litecoin blockchain. Below are a handful of initiatives that demonstrate Litecoin’s commitment to innovation and improving the experience of its users.

  • Litecoin Core

Litecoin enables instant payments to anyone, anywhere in the world using peer-to-peer technology without a central authority. The management and processing of these transactions is carried out collectively by the decentralized Litecoin network. If the user would like to help support the network, the user can do so by running Litecoin Core.

  • MWEB

MWEB is the largest upgrade to the Litecoin network ever, promising to provide fungibility for all, while improving Litecoin’s scalability. David Burkett, the lead developer behind Litecoin’s Mimblewimble Extension Block (MWEB) upgrade, spent more than two years working on it. The MWEB upgrade will be included as part of the Litecoin Core 0.21.2 release, which also includes Taproot.

  • Litecoin Card

The Litecoin Card is powered by Unbanked. It offers users the ability to fund their account with Litecoin and other supported cryptocurrencies for immediate, frictionless spending. The Litecoin Card is the most efficient way to make a purchase with Litecoin.

  • Litewallet

Litewallet is the official Litecoin Wallet of the Litecoin Foundation. With a focus on security and user-experience, Litewallet makes getting started with Litecoin easier.

  • Omnilite

OmniLite is an open-source platform that facilitates the creation of decentralized tokens and smart contracts as well as digital assets, like tokens and NFTs. Being a layered protocol built on top of Litecoin’s blockchain, Omnilite has a distinct advantage over other blockchains due to its integrity, network security, scalability and comparatively low fees. The tokens created via OmniLite can be considered to be an extension of Litecoin and as a result, the transactions from these tokens are recorded on Litecoin’s blockchain.

LTC Tokenomics

LTC is digital cash. It is able to be sent in almost real-time, with near-zero fees, to anyone in the world.

Litecoin was designed to be fair, decentralized and to provide ultimate utility to users. It was designed to only ever have:

  • A maximum supply of 84 million; protecting against inflation
  • As part of Litecoin’s coin issuance, miners are rewarded a certain amount of litecoins whenever a block is produced (approximately every 2.5 minutes). When Litecoin first started, 50 litecoins per block were given as a reward to miners. After every 840,000 blocks are mined (approximately every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0 (approximately by year 2142). As of now, the block reward is 12.5 coins per block and will decrease to 6.25 coins per block post halving.
  • Any change to these ‘rules’ requires all Litecoin participants (read: miners who support the Litecoin network) to agree by consensus to approve the change.

LTC has several use cases as follows:

  • A store of value. It’s portable, easily storable, and nearly impossible to counterfeit.
  • A way to “bank the unbanked.” Litecoin lets anyone with access to the internet create a wallet and use the network, including the estimated 1.4 billion globally who lack access to the traditional financial system.

How to buy LTC?

You can buy LTC on MEXC following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “LTC” using the search bar to see the available trading pairs. Take LTC/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of LTC you want to buy. You can choose from opening a Limit order, a Market order or a Stop-limit order. Take Market order as an example. Click [Buy LTC] to confirm your order. You will find the purchased LTC in your Spot Wallet.

Recent LTC Token Price & Performance

Since listed on MEXC in 2017, LTC reached the highest price (ATH) of 413.09 USDT in April 2021.

Interested in crypto like LTC?

MEXC lists moonshot and provides access to trading of major crypto coins like LTC, keep an eye on our listings in Innovation and Assessment zones, as well as major tokens in the Main Zone – we have more great projects to come! Also, visit the hot projects section to find more hot tokes that were listed already. If you would like to know more about crypto trading itself visit MEXC Academy.

Start your crypto trading journey with MEXC Global Exchange


The content of this webpage is not investment advice and does not constitute an offer or solicitation to offer or recommendation of any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

Please note that the information and data above are cited from third-party sources & whitepapers and do not represent MEXC. Please refer to direct sources for more details. This is not financial advice and does not constitute an offer or solicitation to offer or recommend any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

This disclaimer informs readers that the MEXC Creator’s content, views, thoughts, and opinions expressed in the articles belong solely to the creators and authors, and not to MEXC Global itself. MEXC Global doesn’t give any investment recommendations or advice.

Share your love to MEXC Global
Default image
MEXC Academy
Articles: 161
Read Learn Watch