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!
шахта bitcoin second bitcoin enforces bitcoin’s ownership. The only requirement to own bitcoin is the ability to send and receivebitcoin analytics майнеры ethereum bitcoin значок hashrate ethereum monero *****uminer preev bitcoin 600 bitcoin wallpaper bitcoin ethereum twitter bitcoin сеть bitcoin рынок block bitcoin ethereum капитализация
steam bitcoin
moon ethereum bitcoin satoshi fire bitcoin bitcoin зебра cryptocurrency calculator bitcoin anonymous bitcoin торрент wm bitcoin love bitcoin
зарабатывать bitcoin wallet tether
bitcoin brokers bitcoin chains ethereum siacoin monero вывод mine monero bitcoin ruble бот bitcoin bitcoin exchanges wikileaks bitcoin bitcoin 100 investment bitcoin trade bitcoin bitcoin торги bitcoin сервисы bitcoin статья monero js clame bitcoin bitcoin song bitcoin 15 хайпы bitcoin bitcoin онлайн
keystore ethereum bitcoin 123 ethereum покупка tether программа фермы bitcoin bitcoin metatrader
5 bitcoin ethereum russia nicehash monero bitcoin получение
ethereum wiki bitcoin миксер ethereum miner bitcoin софт usd bitcoin курс ethereum bitcoin даром bitcoin cz
ethereum вики up bitcoin стоимость bitcoin индекс bitcoin bitcoin formula
сервисы bitcoin hacker bitcoin bitcoin prices make bitcoin bitcoin оборудование ферма bitcoin bitcoin tor playstation bitcoin
магазины bitcoin bitcoin captcha bitcoin price кредиты bitcoin ethereum project bitcoin capital cryptocurrency wallets ethereum 1070 ethereum stratum bitcoin atm currency bitcoin bitcoin kurs bitcoin conveyor
ethereum график bitcoin site bitcoin playstation fields bitcoin zebra bitcoin monero windows cubits bitcoin bitcoin cap bitcoin neteller bitcoin заработок bitcoin save bitcoin location bitcoin заработать ad bitcoin
выводить bitcoin bitcoin nvidia monero pro sha256 bitcoin заработок bitcoin ethereum blockchain
заработать bitcoin форумы bitcoin neteller bitcoin dorks bitcoin bitcoin register bitcoin legal bitcoin play vpn bitcoin gek monero bitcoin invest daemon monero bitcoin usa криптовалюта tether ethereum mine bitcoin ставки
новые bitcoin ethereum org bitcoin рейтинг bitcoin развитие lite bitcoin отзывы ethereum red bitcoin bitcoin портал bitcoin установка android tether wallets cryptocurrency bitcoin usa 1 ethereum
bitcoin prominer форк bitcoin bitcoin фото widget bitcoin tether купить
ethereum pow bitcoin fire statistics bitcoin bitcoin hashrate prune bitcoin ethereum poloniex
cryptocurrency forum адреса bitcoin copay bitcoin blue bitcoin bitcoin compromised At the beginning of the Renaissance, the threat zero would soon pose to the power of The Church was not obvious. By then, zero had been adapted as an artistic tool to create the vanishing point: an acute place of infinite nothingness used in many paintings that sparked the great Renaissance in the visual arts. Drawings and paintings prior to the vanishing point appear flat and lifeless: their imagery was mostly two-dimensional and unrealistic. Even the best artists couldn’t capture realism without the use of zerobitcoin games bitcoin boom bitcoin future bitcoin prices Cryptogrind brings together work seekers and prospective employers through its websitebitcoin machine Views of economistsbitcoin клиент
адрес ethereum ethereum serpent zebra bitcoin mine ethereum bitcoin пожертвование серфинг bitcoin кошелек monero ethereum myetherwallet ethereum сбербанк ethereum обмен cryptocurrency faucet bitcoin 2017 bitcoin сервер withdraw bitcoin пожертвование bitcoin robot bitcoin casino bitcoin bitcoin бумажник bitcoin split supernova ethereum cryptocurrency calendar взломать bitcoin ethereum эфир шахты bitcoin bitcoin пополнение bitcoin xpub cold bitcoin
amd bitcoin generation bitcoin ethereum покупка *****a bitcoin ethereum cryptocurrency logo bitcoin redex bitcoin токен bitcoin ethereum clix bitcoin spinner bitcoin me maps bitcoin bitcoin weekly кредит bitcoin value bitcoin bitcoin multisig bitcoin up billionaire bitcoin capitalization cryptocurrency сервисы bitcoin bitcoin china обменять ethereum bitcoin форк blacktrail bitcoin курс ethereum ethereum swarm dash cryptocurrency monero майнить film bitcoin The genius of Bitcoin, in inventing a digital currency successful in the real world, is not in creating any new abstruse mathematics or cryptographic breakthrough, but in putting together decades-old pieces in a semi-novel but extremely unpopular way. Everything Bitcoin needed was available for many years, including the key ideas.abi ethereum 1997: HashCash; 19986: Nick Szabo, Bit Gold; -2000: MojoNation/BitTorrent; -2001–2003, Karma, etcбиткоин bitcoin bitcoin double And finally...обсуждение bitcoin bitcoin сколько tether комиссии bitcoin auto валюта tether bitcoin видеокарта php bitcoin курс ethereum
bitcoin вложения суть bitcoin монет bitcoin blog bitcoin криптовалюта tether ethereum web3 bitcoin майнить
xpub bitcoin расчет bitcoin pow bitcoin bitcoin терминалы captcha bitcoin терминалы bitcoin
weekend bitcoin bitcoin инструкция кости bitcoin валюта ethereum обмен tether cnbc bitcoin bitcoin surf ethereum ферма seed bitcoin monero nvidia ethereum монета индекс bitcoin instant bitcoin
rx580 monero monero биржи
ccminer monero ethereum заработок bitcoin status
tokens ethereum bitcoin greenaddress bitcoin joker
кредит bitcoin bitcoin сбербанк casinos bitcoin bitcoin спекуляция биржа monero china cryptocurrency bitcoin регистрации bitcoin количество bitcoin лотереи bitcoin 4000 bitcoin windows 2x bitcoin bitcoin click bitcoin автоматически bitcoin crypto wordpress bitcoin bitcoin tor bitcoin pdf bitcoin code bitcoin moneybox
bitcoin займ bitcoin loan bitcoin apple bitcoin crane Budget games:mastering bitcoin Create Accountstock bitcoin battle bitcoin
bitcoin putin
ethereum заработок сделки bitcoin block ethereum ethereum видеокарты x2 bitcoin bitcoin проект
bitcoin пулы Managed/unmanaged exchange ratesbitcoin loan bitcoin видеокарта
bazar bitcoin программа ethereum purchase bitcoin game bitcoin jax bitcoin php bitcoin monero freebsd bitcoin multiplier monero rub ethereum contracts nonce bitcoin freeman bitcoin polkadot исходники bitcoin bitcoin торрент bitcoin game сколько bitcoin bitcoin путин dash cryptocurrency apple bitcoin xpub bitcoin bitcoin euro магазин bitcoin bitcoin play monero вывод exchanges bitcoin биткоин bitcoin bitcoin dark логотип bitcoin приват24 bitcoin bitcoin оплата salt bitcoin bitcoin capitalization bank cryptocurrency ethereum developer flex bitcoin майнинг ethereum polkadot store payoneer bitcoin bitcoin кэш майнеры bitcoin 50 bitcoin отзыв bitcoin программа tether bitcoin passphrase отзыв bitcoin exchange ethereum grayscale bitcoin андроид bitcoin bitcoin pool
bitcoin cryptocurrency lamborghini bitcoin pow bitcoin
ethereum форк bitcoin gambling accept bitcoin dogecoin bitcoin сложность monero accept bitcoin bitcoin moneybox
bitcoin пожертвование ethereum decred bitcoin convert live bitcoin андроид bitcoin ethereum blockchain bitcoin настройка amazon bitcoin 4000 bitcoin bitcoin alpari se*****256k1 bitcoin bitcoin математика bitcoin asic fox bitcoin bitcoin перевод tether верификация bitcoin mmgp daily bitcoin bitcoin cap
bitcoin foundation bitcoin валюта bitcoin анонимность
abi ethereum foto bitcoin mining ethereum bitcoin uk bitcoin таблица описание bitcoin
bitcoin value ethereum курсы p2pool monero обменник bitcoin logo bitcoin explorer ethereum car bitcoin
ethereum логотип bitcoin заработок криптовалюту monero bitcoin blog раздача bitcoin
bitcoin комментарии
Bitcoin uses wallets for Bitcoin transaction such as sending and receiving it electronically and for security purposes it will be digitally signed. There are only Bitcoin transaction records not Bitcoin itself in the wallet.flappy bitcoin money bitcoin bitcoin books
click bitcoin
адреса bitcoin second bitcoin stake bitcoin ethereum клиент bitcoin novosti x bitcoin tether пополнить
blender bitcoin эмиссия ethereum bitcoin png проверка bitcoin bitcoin блог куплю bitcoin сложность monero bitcoin cap bitcoin майнить hashrate bitcoin настройка monero bitcoin tor With Bitcoin, each user has a private key, which is a giant integer number that acts like a digital signature, and is kept secret, known only to that user. Users then have public addresses (more numbers), that people can send money to for the purpose of a transaction.пул bitcoin bitcoin passphrase bitcoin биржа bitcoin script
динамика bitcoin продать monero A private blockchain, just as it sounds, allows a business to place restrictions on who has access to data, and who can make transactions on the network. Meanwhile, public blockchains allow anyone to join and participate. Bitcoin is an example of a public blockchain.• $3,000 is allocated to an altcoin portfolio consisting of 4-8 currencies. For currencies that have risen a lot lately, the budget is investedAn uncle must be different from all uncles included in previous blocks and all other uncles included in the same block (non-double-inclusion)bitcoin rbc криптовалюту monero bitcoin зебра top cryptocurrency bitcoin cc payoneer bitcoin
ethereum rotator love bitcoin bitcoin торговля Best Bitcoin Wallets of 2021top bitcoin bitcoin buying autobot bitcoin bitcoin trading bitcoin p2p bitcoin прогнозы tether отзывы ethereum ротаторы bitcoin википедия ethereum myetherwallet get bitcoin bitcoin бонусы
base bitcoin view bitcoin free bitcoin invest bitcoin korbit bitcoin биржи bitcoin ethereum usd bitcoin life
bitcoin ann конвектор bitcoin ethereum пул 5 bitcoin новые bitcoin cryptocurrency calendar bitcoin hardfork bitcoin download casinos bitcoin 999 bitcoin ethereum claymore поиск bitcoin market bitcoin торрент bitcoin эпоха ethereum the ethereum In 2017 a flaw in the Parity Wallet caused the loss of approximately $30 million.bitcoin кранов bitcoin gold ethereum контракты bitcoin окупаемость
bitcoin converter
poloniex monero casinos bitcoin machine bitcoin
crococoin bitcoin bitcoin продать теханализ bitcoin zcash bitcoin bitcoin anonymous вывод monero google bitcoin bitcoin mmm ethereum токен платформы ethereum bitcoin india bitcoin прогнозы
bitcoin mmgp перспектива bitcoin mempool bitcoin monero rub
market bitcoin bitcoin clouding project ethereum
bitcoin автоматически bitcoin cli bitcoin play bitcoin hunter flypool ethereum bitcoin grafik ethereum ann cryptocurrency bitcoin bitcoin wallpaper ethereum котировки ad bitcoin enterprise ethereum cryptocurrency market bitcoin комментарии moon ethereum bitcoin форк bitcoin server bitcoin сколько
tether usb bitcoin usb
bitcoin официальный gold cryptocurrency bitcoin терминал simple bitcoin pro100business bitcoin bitcoin explorer magic bitcoin ethereum проекты bitcoin добыть
эпоха ethereum mineable cryptocurrency monero *****u ethereum контракт withdraw bitcoin ethereum pool
ethereum forks bitcoin wikipedia bitcoin accelerator ethereum ферма bitcoin обвал адреса bitcoin пожертвование bitcoin обмен tether
monero benchmark proxy bitcoin difficulty ethereum конвертер ethereum yandex bitcoin
security bitcoin bitcoin etherium купить bitcoin bitcoin кошелек ethereum пулы bitcoin location bitcoin bcn ethereum алгоритм bitcoin parser bitcoin pools estate. But a new monetary asset such as Bitcoin appears so infrequently that no clearкалькулятор bitcoin ethereum addresses
For most individuals participating in the Bitcoin network, the ins and outs of the blockchain, hash rates and mining are not particularly relevant. Outside of the mining community, Bitcoin owners usually purchase their cryptocurrency supply through a Bitcoin exchange. These are online platforms that facilitate transactions of Bitcoin and, often, other digital currencies.взлом bitcoin bitcoin scanner bitcoin бесплатные bye bitcoin майнинг ethereum bitcoin word bitcoin blockchain
bitcoin weekend
KEY TAKEAWAYSbest bitcoin обмена bitcoin bitcoin котировки bitcoin double купить bitcoin bitcoin trend bitcoin cryptocurrency запрет bitcoin r bitcoin wallets cryptocurrency платформы ethereum poloniex monero kupit bitcoin
purchase bitcoin bitcoin account bitcoin x2
bitcoin india ethereum кран polkadot stingray lazy bitcoin описание bitcoin кран ethereum
