Litecoin is an alternative cryptocurrency created and launched in 2011 by Charles Lee, also known as “Charlie “ Lee.

Charles Lee is a computer scientist and a graduate of the Massachusetts Institute of Technology. Before he created Litecoin, Lee pursued a career in technology, working at Google.

Litecoin was adapted from the open-source code of Bitcoin, albeit with several modifications. Litecoin, like Bitcoin, is based on an open-source global payment network that is completely decentralized.

However, Litecoin differs from Bitcoin in several aspects, including a faster block generation rate and the use of Scrypt as the consensus mechanism to verify blocks.

After creating Litecoin, Lee joined Coinbase as a Director of Engineering, and once he joined the startup, Lee put Litecoin's development aside. In 2017, he stated that his goal was to help people own and hold Bitcoin.

However, later during the same year, Lee left Coinbase and recommitted to further developments of Litecoin. Today, Lee serves as the managing director of the Litecoin Foundation, a non-profit organization dedicated to the crypto project.

 

Component	Litecoin
Technology	Open-Source, Scrypt Proof-of-Work Algorithm, SegWit, Lightning Network, MimbleWimble
Reliability	Extremely reliable
Market Value	$13.1 billion
Open-Source – Yes/No?	Yes
Consensus Method	Proof-of-Work Scrypt
DApp relation	None
Founders	Charles Lee
Founding Date	2011

 

Litecoin is ranked #15th on the list of all Altcoins according to its market capitalization of 13.1 Billion USD. Litecoin has several unique features that form part of its technology, including:

• Scrypt – is the proof-of-work algorithm that Litecoin uses, which is faster than Bitcoin's SHA-256 PoW algorithm.
• SegWit or Segregated Witness works to segregate the digital signal data outside the base block in the Litecoin blockchain, which effectively addresses the scalability issue that Bitcoin is known for.
• Lightning Network – which is a second-layer technology that uses Micropayment channels. This ensures that Litecoin's blockchain is more scalable and increases its capability to carry out transactions.
• MimbleWimble is a privacy protocol that builds on confidential addresses. These encrypt or certain obscure information of the transaction like the amount.

How does Litecoin Work?

Litecoin is a modification of the Bitcoin code. Therefore Litecoin has many similar features to Bitcoin, making it easy for people who understand how Bitcoin works to understand Litecoin.

Litecoin uses cryptography that allows users ownership of LTC, the native token of Litecoin. It also allows users to trade and exchange LTC.

A key feature of Litecoin is that there is a limited supply of LTC, with the maximum amount of LTC that will ever be created capped at 84 million.

Like Bitcoin, Litecoin uses a Proof-of-Work (PoW) consensus method that verifies blocks, using dedicated computer hardware to add new blocks to the blockchain, allowing miners to earn rewards for securing the network.

In terms of transaction speed and network, Litecoin differs from Bitcoin because it finalizes transactions much faster, and it uses a different algorithm to do so.

New blocks on Litecoin are added to the blockchain every 2.5 minutes, which is the time it takes to carry out a transaction. In addition, the mining algorithm that Litecoin employs aims to reduce the effect that specialized mining equipment has, also known as ASIC machines.

Miners who want to mine LTC cannot use the same large, expensive equipment that Bitcoin requires. This is because LTC is ASIC-resistant.

In terms of Litecoin-based projects, Litecoin adopted “Segregated Witness” in 2017. This technology helps cryptocurrencies add more transactions to a block.

During the same year, the first Lightning transaction was carried out on Litecoin, a development that showed how Litecoin employs a layered network design.

In terms of the advantage that Litecoin has over other cryptocurrencies is that Litecoin uses similar technology to Bitcoin, but that it can process transactions much faster.

In terms of the reasons for its popularity, Litecoin is a popular choice for traders and investors because of these reasons:

• Litecoin has four times the transaction speed of Bitcoin.
• In 2017, Litecoin was the first cryptocurrency that completed a Lightning Network Transaction, which took less than a second to complete.
• Litecoin has a fixed supply, but it is much higher than Bitcoin.
• Litecoin is secure and provides users with the ability to control their finances in a secure environment.
• Litecoin has a high trading volume and high liquidity.
• Litecoin is a proven medium of commerce that complements Bitcoin.

 

What are the Litecoin-based Projects?

1. Scrypt
2. SegWit
3. Lightning Network
4. MimbleWimble
5. Litecoin Core

 

      1. Scrypt

Scrypt is a hash function that was initially used by Litecoin as an alternative to Bitcoin's popular SHA-256 hash function. Both Scrypt and SHA-256 are used as mining algorithms in Litecoin and Bitcoin's protocols, respectively.

Both these algorithms use a Proof-of-Work consensus mechanism. With the PoW mechanism, miners must find a nonce value, a variable that is selected by the miner, so that when a candidate block is hashed, the resulting output can be equal to or lower than the target.

The target is measured according to the mining difficulty that the miner faces to produce a valid block. If the target value is lower, it will be more difficult for the miner to generate a block.

If the value is higher, the easier it becomes for the miner to produce a block. Litecoin's block generation is 2.5 minutes, which means that the target will automatically adjust its difficulty by every miner every 2.5 minutes.

Scrypt and SHA-256 are computationally intensive because they need raw computational power to generate many possible solutions for their functions.

Scrypt is memory-intensive because miners must generate numbers rapidly, and these numbers are subsequently stored in the Random-Access Memory (RAM) of the computer's processor, which needs to be accessed before a result can be submitted.

Protocols that are based on Scrypt have a much lower hash rate than SHA-256-based protocols. Scrypt was initially developed to move away from the Application-Specific Integrated Circuits (ASIC) required to mine on the Litecoin network.

When mining cryptocurrencies, users have a choice between CPU, GPU, or ASIC mining rigs. ASICs are more superior to CPU and GPU because they generate more hashes per second.

Therefore, when miners use any other mining rigs other than ASICs, they are at a complete disadvantage. However, with Scrypt, Litecoin effectively prevents ASIC mining from taking place because the algorithm is memory0intensive.

Miners who use ASIC equipment to mine. Scrypt-based protocols are no longer the top players, and those who use CPU or GPU units can remain competitive.

 

      2. SegWit

SegWit is Litecoin's proprietary technology that helps to alter the block size limit on the blockchain. This is achieved by removing the signature data from the transaction.

SegWit comes from “Segregated” and “Witness”, with Segregated referring to how the technology functions by “separating” and then “witnessing” the transaction to ensure that it is both valid and safe.

Some important factors surrounding SegWit includes:

• The data required decreases – the input values which are covered under the “signatures” will reduce the amount of data which is required by a hardware wallet as well as other signers.
• The 1MB, block size limit is increased to 4MB, and block weight is also added, ensuring that harmful effects are avoided when the block size is increased.

 

      3. Lightning Network

Lightning Network is a second-layer payment protocol that is on top of Litecoin. Lightning Network enables faster transactions between participating nodes. 

It is a peer-to-peer system that allows micropayments of cryptocurrency through a network of bidirectional payment channels. This is done without delegating custody of funds.

 

      4. MimbleWimble

MimbleWimble is a blockchain protocol that allows for completely private transactions. This is achieved by providing a unique framework different from that of Bitcoin.

With MimbleWimble, there are no addresses, and the transactions are completely confidential and untraceable.

 

      5. Litecoin Core

Litecoin Core is the official full node software program that validates transactions and adds blocks to the Litecoin network. Litecoin Core is offered by the Litecoin project, and it is supported by the Litecoin Foundation.

Litecoin Core is open-source, and it supports Windows, macOS, and Linux. It is used to send and receive LTC along with transaction histories, and the features of the application are updated frequently.

A full node is used to fully validate transactions and blocks. These nodes support and help the network by accepting transactions and blocks from other full nodes.

These blocks and transactions are then validated and relayed to other full nodes. Full node clients can create a secure blockchain, which is permanently verified and validated.

 

For what is Litecoin used?

The main purpose of Litecoin is to be a form of digital money. Litecoin can be used to purchase goods, products, and services and to transfer funds between accounts.

Litecoin can be used for transactions without using an intermediary such as banks, credit card companies, or a payment processing service.

 

Is understanding Litecoin hard?

No, understanding Litecoin is not hard.

Those who understand Bitcoin will easily understand Litecoin because it is based on the same code as Bitcoin. Litecoin is easy to understand because it is intended to serve as a digital currency.

It is important to understand how Litecoin works because it has an advantage over other cryptocurrencies such as Bitcoin. Litecoin offers the following:

• Faster transaction processing times
• Lower transaction fees
• A truly decentralized mining network
• Less scarcity

 

What is the Litecoin's Technology?

In terms of its technology, Litecoin is a peer-to-peer cryptocurrency and a payment network. Litecoin is like Bitcoin, and it works in the following ways:

• Transactions on the Litecoin network are recorded and verified through a public ledger, also known as a blockchain. This technology allows money to change hands without it passing through a central authority such as a bank or government.
• Transactions are processed by computers that solve cryptographic tasks, and those who verify transactions, the miners, are rewarded for their contribution.
• Litecoin is kept in a wallet, which is a software application, program, or a hardware wallet like a USB device, in which the owner keeps their private keys (like a password) that are used to access their funds.
• Litecoin (LTC) can be used to pay for goods, products, and services from merchants and retailers that support payments in LTC.

 

In terms of Litecoin's technology, the evolution of Litecoin can be traced to 2011.

• In 2011, Bitcoin was being mined by GPUs, and this raised concerns with users that there was a high entry barrier to mining, with CPUs becoming obsolete for mining.
• By using the code from Bitcoin, a new alternative called Tenebrix (TBX) was created, replacing the SHA-256 rounds in the mining algorithm of Bitcoin with the Scrypt function.
• Tenebrix was a successor project to an earlier cryptocurrency that replaced the issuance schedule of Bitcoin with a more consistent block award.
• However, when it was developed, the developers of Tenebrix included a clause in which they could claim 7.7 million TBX for themselves, at no extra cost, which was criticized by users.
• This was addressed when Charlie Lee, an employee for Google, created an alternative version of Tenebrix, called Fairbrix (FBX), where Litecoin inherited its Scrypt mining algorithm.
• Litecoin was released through an open-source client on GitHub in October 2011, and the Litecoin network went live a few days later.
• Litecoin was a source code for the Bitcoin Core client, with the fundamental difference of a decreased block generation time of 2.5 minutes instead of 10 minutes and the use of Scrypt instead of SHA-256.
• In November 2013, the aggregate value of Litecoin experienced a significant boost of 100% within 24 hours.
• In May 2017, Litecoin was the first of the top 5 cryptocurrencies that adopted Segregated Witness (SegWit).
• During the same month, the first Lightning Network transaction was carried out on Litecoin's network, transferring 0.00000001 LTC from Zurich to San Francisco in less than a second.

 

In terms of its potential, Litecoin is not likely to surpass Bitcoin as an investment, even if it is a better version on a technical level. Bitcoin is the original cryptocurrency, and it is unlikely that any alternative coins will ever surpass it.

Litecoin has a future as a digital currency when cryptocurrencies become more mainstream for frequent transactions, given that merchants and retailers allow for payments in LTC.

Litecoin has a future where trading and investment is concerned, especially if its value increases, giving investors a generous return on investment and allowing traders to gain profits from speculating on fluctuations in the price.

 

What is Litecoin’s price?

Litecoin was launched in 2011, and its price average for the past five years is as follows:

	2017	2018	2019	2020	2021 To date
LTC Price High	$358	$296	$141	$89	$386
LTC Price Low	$3.7	$23	$30	$30	$119
Market Cap	$19.4B	$16.2B	$8.85B	$5.8B	$25.8B

 

Is Litecoin Open-source?

Yes, Litecoin is an open-source project.

Litecoin is a peer-to-peer cryptocurrency as well as an open-source software project that was released under the MIT/X11 license.

This bodes well for investors because it means that there is complete transparency in the project and that it can be trusted.

 

What is the best Litecoin wallet?

Simply defined, a Litecoin wallet is a piece of software where users store the necessary data to access their Litecoin (LTC) funds. This data contains a private key, which is like a password, and a wallet address, also known as a public key, which acts as an account number would.

In terms of the types of Litecoin wallets, users can distinguish between the following:

• Cold Wallets – which are offline wallets that store funds in an application that is not connected to the internet.
• Hot Wallets, which are online applications that require an internet connection.
• Physical wallets are unique pieces of hardware like USB devices that keep crypto funds offline.
• Web wallets are web browser ad-on wallets.
• Desktop wallets – which are applications that allow users to manage their finds on macOS, Microsoft Windows, or Linux.
• Paper wallets which are pieces of paper with a code or QR code on them. To access the assets, the user enters the key or scans the code to access their account.

 

The functions and importance of a Litecoin wallet are the same as owning and using a physical wallet where fiat currencies are stored. Litecoin wallets can be used to store, transfer, receive and manage LTC in one central place.

When crypto coins are stored in a wallet, it does not mean that the actual coins are there, but the wallet instead generates a private key, also known as a hexadecimal code, that is used alongside another hexadecimal code, or a public key, which is linked to a certain amount of currency.

Therefore, an LTC wallet is a personal ledger of transactions, and it is important to the transaction and to keep funds safe.

The best Litecoin (LTC) wallets available on the market are:

1. Litecoin Core
2. Jaxx
3. KeepKey
4. LiteVault
5. Exodus

 

       1. Litecoin Core

Litecoin Core is the official full node client for Litecoin that is compatible with Windows, Linux, and macOS. Litecoin Core is open-source and has a wide range of advanced features.

The functions of Litecoin Core Client are basic, used for the storage, sending, and receiving of LTC and the option to draw transaction history.

The latest version of the wallet supports a wide range of different third-party wallets, improved fee estimation, and a variety of other improvements on earlier releases.

To use Litecoin Core, the user must download the entire Litecoin blockchain to their computer, which can be time-consuming, but in doing this, Litecoin Core is more stable and secure.

 

      2. Jaxx

Jaxx Wallet is a digital currency wallet that is compatible with more than 80 different well-known cryptocurrencies. Jaxx is user-friendly and easy to navigate, allowing users to easily switch between different cryptocurrency balances.

Jaxx Wallet can be used across different devices, and it has a wide range of advanced features. With Jaxx, users can store, buy, and sell different crypto assets and use the cross-platform pairing service, allowing the user to log into other wallets on the same device, pairing and synchronizing these wallets in a central place.

Jaxx Wallet also supports camera scanning and offers frequent news updates from cryptocurrency and blockchain markets and sources.

 

      3. KeepKey

KeepKey is a cryptocurrency hardware wallet that is compatible with more than 40 different crypto assets. KeepKey has a beautiful and stylish design, and it is easy to use and affordable.

The setup process with KeepKey is like other hardware wallets where the user downloads the KeepKey client from the web store, connect their KeepKey device using the USB cable provided, and follow the on-screen instructions.

The entire process, including the PIN protection setup and backup of the recovery seed, takes 5 minutes.

 

      4. LiteVault

LiteVault is a unique online wallet with user-friendly software that is extremely simplistic. The user's private keys are kept on the LiteVault servers, but they are encrypted by the user's browser before LiteVault receives the encrypted version.

The primary purpose of LiteVault is to store Litecoin through integration with Changelly, adding extra features. LiteVault has a strategic partnership with Changelly, allowing users to buy Litecoin using their credit card or to convert LTC into other altcoins.

LiteVault is an open-source project that is maintained by an anonymous UK-based developer that is behind several other projects, including Litecoin Block Explorer.

 

      5. Exodus

Exodus is a multi-currency wallet that is compatible with more than 100 cryptocurrencies. Exodus is a desktop and mobile cryptocurrency wallet with a user-friendly design and interface.

Exodus can be used to store, buy, and sell cryptocurrencies, and users can easily exchange crypto in the wallet without having to complete a formal registration.

Exodus uses Simplified Payment Verification, and it does not allow for complete blockchains to be downloaded but uses a series of servers to keep wallet balances updated.

Which is better for your Litecoin? A software or hardware wallet

Hardware wallets are the most secure wallets for Litecoin because they are offline.

Software wallets are applications that can be downloaded onto your computer or mobile device. Software wallets are like hardware wallets, but they are typically online and connected to the internet.

A wallet that is connected to the internet, also known as a hot wallet, is more susceptible to hacks and cyberattacks, which means that you could lose all your funds.

Hot wallets are the best when they are used for daily transactions where small amounts of LTC is transferred. It is therefore recommended to keep large LTC funds in a hardware wallet that is offline and has a secure PIN.

 

What is Litecoin’s Burn rate?

Coin burns can simply be defined as the process where coins are sent to a public address where they cannot be spent because the private keys of these addresses are unobtainable.

Coins are burnt for various reasons, including:

• To create new coins
• To reward token holders
• To destroy any coins that were not sold after an Initial Coin Offering (ICO) or a token sale.

 

In terms of necessity, coin burns to ensure that there is a long-term commitment, ensures price stability, and protects against spam.

Litecoin does not have a burn rate like other coins, but this does not mean that it cannot be burnt. Litecoin can be burned when it is sent to an address, and no one has the private key to access these funds.

 

What can you do with Litecoin?

1. Purchase Goods and Services
2. Trade
3. Investment

 

      1. Purchase Goods and Services

Litecoin functions as a digital currency that can be used to pay for goods and services that are provided by merchants and retailers that accept payment in LTC. The following businesses accept payment in LTC:

• Travala – A travel website that allows users to reserve hotel rooms, book flights, and purchases holiday packages across the world using LTC.
• eGifter is a popular platform where users can purchase gift cards that can be emailed or texted to the receiver.
• RE/MAX allows users to purchase and rent properties with payments made in cryptocurrencies such as BTC and LTC.
• Sheetz is an American chain of convenience stores and gas stations that accept payment in LTC.
• UnlockBase is a service that allows iPhone, Samsung, Huawei, and Nokia users to unlock their devices if they have accidentally locked them.
• Snel is an online store that sells domain names. It also provides comprehensive services such as web hosting, cloud hosting, and VPS services and accepts payment in LTC.
• CryptoGames is a gambling website that allows the use of LTC.
• G2A.com is a website that offers a wide range of games and in-game items.
• Crypto-Keys.com allows users to safely store their seed phrases and to effectively protect their crypto funds.

 

      2. Trade

Litecoin can be used in speculative trading where traders speculate on price fluctuations of LTC, whether the price will appreciate or depreciate.

This allows traders to earn profits if they can pinpoint whether prices will increase or decrease, based on whether they go long or short.

Traders can buy LTC at a lower price to sell it once the price peaks, or they can do it in reverse.

 

      3. Investment

Investors can use long-term investment strategies to earn a return on investment with the long-term appreciation of the price of Litecoin.

Litecoin holders can also use their funds to participate in Initial Coin Offerings (ICOs).

 

What is the criticism against Litecoin?

• Some of the criticism against Litecoin is that it is technically better than Bitcoin but that it will never become more valuable than Bitcoin.
• The founder of Litecoin, Charlie Lee, was accused of having a conflict of interest when he promoted Litecoin on social media platforms. In 2017, Lee sold his coins and donated the proceedings to the Litecoin Foundation.
• In September 2023, there was a fake press release that was published announcing a partnership between Walmart and Litecoin, but this was revealed to be a hoax and caused LTC's price to increase by 30%.
• When Litecoin was first released, there was a “Cult” personality around different cryptocurrency projects, and Lee did not want people to think that he was pushing LTC to increase his wealth.
• There are concerns about whether the low transaction fees would remain the same if LTC were to become a mainstream currency.
• LTC is not as popular anymore, and it is ranked in the top 20 and not the top 10 anymore. Other cryptocurrency projects are surpassing it, offering better and faster technology for transaction purposes.

 

What is the biggest competitor of Litecoin?

The biggest competitor of Litecoin is Bitcoin.

Both Bitcoin and Litecoin are cryptocurrencies that aim to become a form of payment, a digital currency that is accepted worldwide. Bitcoin was established in 2009, and it was the first cryptocurrency ever created.

Any cryptocurrencies created after Bitcoin are known as Altcoins, and Litecoin, created in 2011, is one of the oldest and most popular altcoins in the market.

The differences between Bitcoin and Litecoin relate to:

1. Market Capitalisation
2. Price Stability
3. Demand
4. Technology
5. Distribution
6. Transaction Speed
7. Algorithms

 

      1. Market Capitalisation

As of October 20, Bitcoin's market cap is 1.2 trillion US Dollars, while the market cap for Litecoin is 13.1 billion US Dollars. Bitcoin's market capitalization makes it 70 times larger than Litecoin.

Bitcoin, as a network, still dwarfs any other cryptocurrencies and its closest competitor is Ethereum, which is the second-largest cryptocurrency with a market cap of nearly 500 billion US Dollars.

This means that Bitcoin has a higher value than Litecoin and all other altcoins in the market.

 

      2. Price Stability

Bitcoin is the most popular cryptocurrency in the world, and its volatile price is attributed to its limited supply and lack of centralization.

Bitcoin is one of the cryptocurrencies that are extremely susceptible to the opinions of well-known figures such as Elon Musk. It is set that Bitcoin prices will only increase as its supply diminishes.

Litecoin did not take off until 2017, even if it had already been in existence for six years prior. In 2017, during a bullish market, Litecoin's value rose by 3,951% in seven months, ranking it as the fourth-largest crypto at the time.

However, between December 2017 and 2018, Litecoin lost 93% of its value because the crypto bubble burst, an event during which many other cryptocurrencies lost their value.

Like Ethereum, people do not only buy Litecoin for speculative purposes. They also buy them for their real-world uses.

Litecoin has an optimistic price prediction and stable forecast for the next four years, and the increased supply of LTC makes Litecoin a lot more stable than other cryptocurrencies.

In addition to this, the low barrier to entry for Litecoin ensures that there are a lot more benefits to owning this coin.

 

      3. Demand

Bitcoin is the most popular cryptocurrency, and there is an extremely high demand for it. Litecoin is still a popular option, but it is not as popular as Bitcoin.

However, fast transaction speeds, low transaction costs, and innovative technology alongside a low barrier to entry keeps Litecoin on the Top 20 cryptocurrency list.

 

      4. Technology

Both Bitcoin and Litecoin are decentralized and use Proof-of-Work algorithms for consensus and validation. However, Bitcoin uses the SHA-256 algorithm that requires powerful ASIC mining rigs to solve.

Litecoin uses unique Scrypt technology that makes it ASIC-resistant. Litecoin also integrates innovative technologies such as SegWit, Lightning Network, MimbleWimble, Litecoin Core, and more.

 

      5. Distribution

Litecoin is more distinguished than Bitcoin where distribution is concerned. Bitcoin's supply will never exceed 21 million coins, while Litecoin has a fixed supply of 84 million coins.

This theoretically provides Litecoin with an advantage, but the real-world effects can prove to be negligible. This is attributed to the fact that both Litecoin and Bitcoin are divisible into infinitesimal amounts.

This means that users of both Litecoin and Bitcoin will not have any difficulty purchasing low-priced goods and services, despite how high the overall price of an undivided single Litecoin or Bitcoin may become.

 

      6. Transaction Speed

Technical transactions occur immediately on both the Bitcoin and the Litecoin networks, but time is needed for the transactions to be confirmed and verified by the nodes.

Litecoin was developed to improve transaction speed, and its advantage has increased in popularity. Bitcoin's transaction confirmation time is ten minutes per transaction, but this can vary if there is high transaction traffics.

Litecoin validates transactions in 2.5 minutes, making Litecoin more attractive for merchants.

 

      7. Algorithms

Another fundamental difference between Bitcoin and Litecoin is the different cryptographic algorithms that they use. Bitcoin uses a long-standing SHA-256 algorithm while Litecoin uses Scrypt.

The practical significance of these algorithms relates to their impact on the mining process involved with releasing new coins. Both Litecoin and Bitcoin mining requires significant computing power, but the SHA-256 algorithm is much more complex than Scrypt.

This means that Bitcoin miners must use the powerful mining equipment known as ASICs to stand a chance to mine BTC. While Scrypt was designed to be ASIC-resistant, meaning that miners can use CPUs or GPUs to mine LTC.

 

Is Litecoin better than Bitcoin?

No, Litecoin is not better than Bitcoin. It is merely technically different.

Bitcoin is still the king of crypto above all other cryptocurrencies despite the new cryptocurrency projects. Litecoin is technically better than Bitcoin because it is ASIC-resistant, it has lower transaction fees and faster transaction speeds.

Other than this, Litecoin and Bitcoin aim to become the same, a digital currency that is widely used for purchases and payments.

 

Can Litecoin and Bitcoin Coexist?

Yes, Litecoin and Bitcoin can coexist.

With the widespread acceptance of cryptocurrencies as a method of payment for goods and services, Bitcoin and Litecoin can both be used as digital currencies.

Litecoin is based on the technology that made Bitcoin famous, given that Litecoin offers a few improvements such as scalability, lower transaction costs, increased transaction speeds, and more.

Litecoin will never surpass Bitcoin even if it has some improvements, and therefore they can coexist.

 

How does Litecoin make revenue?

Litecoin makes revenue through its different partnerships such as:

• UFC
• Travala
• eGifter
• BlockFi
• RE/MAX

 

In addition to this, Litecoin also makes profits from the use of its technology, such as Litecoin Core and several other projects.

The Litecoin Foundation, which is behind the Litecoin project's development, makes revenue from advertisements, donations and the sale of merchandise.

Another revenue stream for Litecoin is through transaction fees, which ranges from between $0.03 or $0.04 on average per transaction.

 

How long does it take to mine Litecoin?

It takes 45 days to mine 1 Litecoin.

Users who utilize the L3++ ASIC mining rig with a difficulty of 13,667,659.27727 will take 45 days to mine 1 Litecoin.

 

What can Litecoin smart contracts do?

Smart Contracts are self-enforced, and they are a digital representation of traditional contracts. Earlier in 2023, trusted sources announced that Litecoin is fully integrated into a cross-chain infrastructure through Wanchain.

Wanchain is a decentralized blockchain interoperability solution that connects some of the most isolated blockchains. Wanchain is also the only decentralized finance (DeFi) project that allows for true decentralized cross-chain transactions.

With the addition of Litecoin, Wanchain's position was reinforced as one of the leading cross-chain solutions. This addition has given Litecoin the ability to be traded cross-chain and to be used with EVM-compatible smart contracts.

In September, another announcement was made to notify Litecoin users that they would be able to create NFTs and smart contracts on the Litecoin blockchain by using OmniLite.

 

Can Litecoin be used as currency?

Yes, Litecoin can be used as a currency. It is already being accepted by several retailers and merchants around the world, including:

• Travala
• eGifter
• RE/MAX
• Sheetz
• UnlockBase
• Snel
• CryptoGames
• G2A.com 
• Crypto-Keys.com

 

Can Litecoin be tracked?

Yes, Litecoin can be tracked.

Litecoin block explorer can be used to view a wide range of data, including the state of a transaction, transaction history, balances of addresses, the hash rate of a blockchain, and the transaction growth rate.

Litecoin and other cryptocurrencies are also being tracked by programs such as CipherTrace, technology that is being used by regulators to ensure that there is complete transparency in the cryptocurrency space.

However, with the MimbleWimble privacy upgrade, this may change significantly.

 

Can Litecoin be hacked?

Yes, Litecoin can be hacked when there is a 51% attack.

This 51% rule refers to a situation where there is an entity that controls more than 51% of the computing power, or the hashing power, in a blockchain network.

If an entity succeeds in doing this, it can create fraudulent transactions that may not include any previous payment information, leading to double-spending.

The protocol of any blockchain works to validate the record with the longest transactional history. If an attacker has over 51% processing power, they have the longest transactional history.

This means that the attacker's incorrect blocks are considered the valid ones.

However, it should be mentioned that even if a 51% attack is possible, it is not likely to occur on massive blockchains such as Litecoin, Bitcoin, Ethereum or any other large blockchains, but such an attack is more likely on small blockchains.

In addition to this, smart contracts are susceptible to hacking attempts. Smart contracts are used to ensure that there is transparency and security on the blockchain by having contracts that enforce themselves.

Smart contracts run a program that executes items according to contract agreements. For instance, there is a “might be” and “if-then” statement that releases money to another person once the conditions of the contract are met, and both participants have “signed”.

The exchange is facilitated by an automatic process, and the contracts are integrated into blockchains to ensure that there is transparency.

However, some bugs can exist in the code of smart contracts, either intentionally or inadvertently, which means that such errors can cause an error in the contract itself.

There have been errors that have cost over $70 million in losses, and there are no accurate tools that can test and detect such vulnerabilities.

 

Can Litecoin make you rich?

Yes, Litecoin can make you rich eventually.

However, there are no guarantees, and whether Litecoin will make you rich will depend on several factors, including:

• Price Direction
• The investment or trading strategy that you use
• Overall market conditions
• How much money are you willing to invest in Litecoin?

 

Litecoin is not an inflationary coin like Dogecoin because it has a total supply of 84 million coins, which is four times more than Bitcoin's cap of 21 million.

This means that Litecoin has more room to grow than Bitcoin, but it will take extremely long for it to get there because Bitcoin's current circulating supply is 18,849,193 BTC, and the last BTC is set to be mined in 2140.

This means that there will not be any more Bitcoins after this time, and only then will Litecoin stand a chance to surpass Bitcoin.

Litecoin is in an unabated race to all-time highs, which was initiated during the last quarter of 2020. This came after the Litecoin Foundation announced plans to introduce the MimbleWimble privacy upgrade to the Litecoin network.

The announcement was made after the planned launch of the LTC-only Visa Debit Card, in addition to LTC being included in the digital currencies that can be bought with a PayPal account.

These announcements created significant momentum for Litecoin, and according to analysts, Litecoin could reach $500 by the end of the bull run in the market. 

Like other cryptocurrencies, Litecoin has a turbulent past, and the price of LTC can take a twist at any time. If you buy Litecoin now and the price keeps increasing, it can make you rich, depending on the factors previously mentioned.

There are no names for the richest Litecoin owners in the world. However, according to the block explorer, the following Litecoin addresses contain the most LTC at present:

• M8T1B2Z97gVdvmfkQcAtYbEepune1tzGua with a total of 3,967,304 LTC to the value of $805,895,067
•   LQTpS3VaYTjCr4s9Y1t5zbeY26zevf7Fb3 with a total of 1,326,076 LTC to the value of $269,371,305
•   MU4dnBVmUDZn1my5B9aVMrhp2ij7bhR3Kj with a total of 1,326,076 LTC to the value of $269,371,305

 

Is it worth buying Litecoin?

 Yes, it is worth buying Litecoin.

Litecoin was launched in 2011, and it is one of the original Alternative Coins (Altcoins). Litecoin is technically like Bitcoin, albeit with improvements to the transaction speed, mining, and transaction costs.

Cryptocurrency enthusiasts often refer to Litecoin as the silver to Bitcoin's gold, and it is true in terms of the price of these assets.

Litecoin has always been significantly cheaper than Bitcoin, causing more investors to choose LTC. 

In terms of price stability, Litecoin is affordable, and it has experienced a stable price in the past few months, with slow and steady increases in value.

In terms of profitability, if Litecoin continues to increase steadily, investors can see a significant return on investment.

 

In terms of the risks, Litecoin faces the following risks:

1. Fading Market Capitalization
2. There are more superior blockchain networks in the market
3. Volatility and Speculation

 

      1. Fading Market Capitalization

Litecoin has been firmly positioned in the top-five cryptocurrencies where market capitalization is concerned. However, Litecoin has lost a lot of traction, and as of October, Litecoin has moved down the rank to #12, replaced by the likes of USDT, XRP, Solana, Polkadot, Dogecoin, and others.

 

      2. There are more superior blockchain networks in the market.

Litecoin's performance is four times faster than Bitcoin in confirming transactions, with the network taking 2.5 minutes to validate a block per block.

However, in the altcoin market today, this is incredibly slow, and other blockchain projects are much faster.

 

      3. Volatility and Speculation

Litecoin's volatility is a large risk, and it does not only apply to Litecoin but the cryptocurrency market overall.

The value of a Litecoin investment can move parabolically, where there are double-digit percentage gains or losses within a 24-hour period, which is not an uncommon occurrence.

You can buy Litecoin safely from these cryptocurrency platforms.

Is Litecoin a good investment?

Litecoin is a good short-term investment, especially as a speculative digital asset.

According to technical analysis, Litecoin's current price is on a penultimate leg of technical formation that could catalyze a quick bull rally.

Litecoin's price has seen a slow and steady uptrend since mid-October, and it is approaching an inflexion point. There have been three swing lows identified from early in September until recently.

Analysts expect that Litecoin will achieve a 26% ascent to $240 soon.

In terms of the long-term, Litecoin will experience its third halving event in May 2023, which means that block rewards will be halved from 12.50 LTC to 6.25 LTC.

This incites Litecoin enthusiasts to trade and invest before this occurs because it can cause Litecoin to appreciate significantly. There are even expectations that Litecoin can excel above its competitors to become one of the most-traded cryptocurrencies.

 

Is Litecoin Legit?

Yes, Litecoin is legit.

According to “isthiscoinascam”, Litecoin has a project safety score of 8.24/10, which is strong. Litecoin also has the following metrics:

• Development – 8.1/10
• Sentiment – 8.1/10
• Community – 9.12/10
• Awareness – 1.8/10
• Credibility – 8/10
• Volume – 9/10

 

Is Litecoin Supply limited?

Yes, Litecoin's supply is limited to 84 million LTC.

Once all 84 million LTC has been mined, no more LTC will come into existence.

There is no whitepaper on Litecoin to explain the reasons behind its supply cap. However, during a presentation at BTC Miami, the creator of Litecoin, Charles Lee, gave some insights into the reason behind some of Litecoin's features, including its coin cap.

Litecoin is intended to be a “lite” version of Bitcoin. Charles Lee has always considered the “silver analogy”, where Litecoin is considered the silver to Bitcoin's gold.

Through this, Lee wanted to create something (Litecoin) that is cheaper than Bitcoin and that had more coins and felt more “lightweight”.

As of October 2023, there are 68,791,495 LTC coins in circulation, and it is expected that the last LTC will only be mined in 2142, according to the Litecoin Foundation.

Once all LTC coins have been mined, the total supply will be lower than 84 million.

The reason for this is the significant amount of wallets and keys that may still come into existence and the number of coins that are and will still be lost, pulling these coins out of circulation.

In terms of effects, Litecoin's limited supply will make it more valuable as the supply depletes. In terms of other cryptocurrencies, the following cryptos also have limited supplies:

• Bitcoin (BTC) – 21,000,000 BTC
• Cardano (ADA) – 45,000,000,000 ADA
• Binance Coin (BNB) – 168,137,036 BNB
• XRP (XRP) – 100,000,000,000 XRP

  

Does Litecoin have a fixed supply?

Yes, Litecoin has a fixed supply of 84,000,000 LTC coins. There will never be any more than this amount.

• Fixed or maximum supply can be defined as the total number of coins that can ever be in circulation.
• Total Supply refers to the number of coins that have been mined, including the missing coins that are no longer in circulation or that have been lost.
• Circulating supply refers to the total number of coins that are in circulation.

 

Is Litecoin a good Altcoin?

Yes, Litecoin is a good Altcoin in terms of the following metrics:

• Hacking – Litecoin has never experienced a hacking attempt or a successful hacking event.
• Security – Litecoin is highly secure because of its decentralization and unique design.
• Transactions – Litecoin's transaction time is 2.5 minutes, which is faster than Bitcoin, but it is not the fastest today.
• Technology – Litecoin has incredible technology, and it is an attractive investment option.
• Price Change – From launch to date, Litecoin's price has increased by over 4,500%.
• Investing – Litecoin is an excellent short-term investment and trading opportunity for Litecoin traders and enthusiasts, with stable increases predicted over the long term.

 

Litecoin is currently not a good Altcoin in terms of tracking because the Litecoin block explorer can be used to view a wide range of data, including the state of a transaction, transaction history, balances of addresses, the hash rate of a blockchain, and the transaction growth rate.

Litecoin and other cryptocurrencies are also being tracked by programs such as CipherTrace, technology that is being used by regulators to ensure that there is complete transparency in the cryptocurrency space.

However, with the MimbleWimble privacy upgrade, this may change significantly.

Any cryptocurrency that isn't Bitcoin is referred to as an altcoin.

What are the differences between Litecoin and Bitcoin?

The differences between Litecoin and Bitcoin relate to the following factors:

1. Transaction Speeds
2. Proof-of-Work Consensus
3. Coin Limit and Block Rewards
4. Market Capitalisation

 

      1. Transaction Speeds

Litecoin only takes 2.5 minutes to generate a block of transactions, while Bitcoin takes 10 minutes, making Litecoin preferable because it can confirm transactions four times faster.

This difference in transaction speeds can make Litecoin more attractive to merchants, which is why Litecoin is considered the best cryptocurrency for daily transactions, while Bitcoin is better as a store of value.

This is because home PCs can be used to mine Litecoin while Bitcoin requires ASIC mining rigs to make it worth the miner's while.

 

      2. Proof-of-Work (PoW) Consensus

Another difference between Litecoin and Bitcoin is the mining algorithm. Both projects use the Proof-of-Work consensus mechanism, but Bitcoin uses the traditional SHA-256 hashing algorithm, while Litecoin uses Scrypt.

Scrypt requires a lot less computational power for coins to be mined, making it possible for regular users to participate in mining.

 

      3. Coin Limit and Block Rewards

Bitcoin and Litecoin are both created as rewards for miners who verify and process transactions while they mine new coins. Bitcoin and Litecoin both have limited supplies.

While Bitcoin is capped at 21 million BTC, Litecoin's maximum supply is 84 million LTC. Both Bitcoin and Litecoin's rewards are halved to limit the number of new coins that are released, creating scarcity.

Bitcoin rewards are halved after every 210,000 blocks, and Litecoin's rewards are halved after every 840,000 blocks are mined.

 

      4. Market Capitalisation

As of October 20, Bitcoin's market cap is $1.2 trillion, while the market cap for Litecoin is $13.1 billion.

Bitcoin, as a network, still dwarfs any other cryptocurrencies and its closest competitor is Ethereum, which is the second-largest cryptocurrency with a market cap of nearly 500 billion US Dollars.

This means that Bitcoin has a higher value than Litecoin and all other altcoins in the market. This is because of the scarcity associated with its supply and because it is the original cryptocurrency launched.

Because of its high value that is set to increase, Bitcoin is a better investment option than Litecoin. Litecoin is a better channel for quick, cheaper transactions than Bitcoin.

	Bitcoin	Litecoin
Price change 20/21	+$400%	+288%
Market Cap	$1 Trillion+	$13.1 Billion+
Past Hacks	None	None
Popularity	Very High	High
Altcoin Rank	#1 – Original Crypto	#14

What is the difference between Litecoin and Ethereum?

Litecoin and Ethereum are both well-established cryptocurrencies that have a large portion in the cryptocurrency market according to their market cap.

Litecoin is a fork of the Bitcoin blockchain that was launched in 2011 and is like Bitcoin in many ways. Litecoin aims to be the faster, fairer, and cheaper version of Bitcoin.

Ethereum is a blockchain platform that was launched in 2015, and it is also a faster blockchain than Bitcoin, making it easier to mine blocks. Another feature is that Ethereum has an unlimited supply.

Ethereum can function as a medium for exchange, much like Bitcoin and Litecoin, but the main purpose of Ethereum is to act as a decentralized application (DApp) platform where smart contracts can be built and run.

The key differences between Litecoin and Ethereum are as follows:

• Litecoin has a limited supply of 84 million coins, while Ethereum does not have a fixed supply of coins.
• Purpose – Litecoin serves as a digital currency that can be used to purchase goods and services, while Ethereum can be used as a currency for the creation of DApps and the use of smart contracts.
• Mining – Litecoin uses a proof-of-work Scrypt consensus mechanism while Ethereum uses a proof-of-work algorithm for now, with the blockchain moving to a Proof-of-Stake (PoS) consensus where coins cannot be mined, but staked and blocks are created by the ETH user who has the most coins staked.
• Transaction speed – Ethereum's block time is between 10 to 15 seconds, much faster than Litecoin's 2.5 minutes, making Ethereum better for small transactions.
• Transaction fees – Litecoin's transaction fee is lower than the gas fee that Ethereum charges.

 

Overall, when comparing the differences between Litecoin and Ethereum, Ethereum is a better investment option and is better for use as a platform where smart contracts and DApps can be run.

Litecoin has cheaper transaction costs, making it ideal as a digital currency to pay for goods and services.

	Ethereum	Litecoin
Price change 20/21	+880%	+288%
Market Cap	$480 Billion+	$13.1 Billion+
Past Hacks	None	None
Popularity	Very High	High
Altcoin Rank	#2	#14

 

What is the difference between Litecoin and Dogecoin?

Litecoin is one of the earliest altcoins that was launched in 2011, while Dogecoin was introduced in 2013 as a joke. Dogecoin has a comedic nature and is based on a funny, popular meme featuring a Japanese-breed dog.

However, despite this, Dogecoin is one of the most popular cryptocurrencies in the market, even more, popular than Litecoin. Like Litecoin, Dogecoin uses Scrypt technology in addition to using a Proof-of-Work Algorithm that makes DOGE a mining-based coin.

Like Bitcoin, both Dogecoin and Litecoin have similar structures and decentralized networks that make it near-impossible to hack the blockchains.

Both Litecoin and Dogecoin are derived from the Bitcoin Blockchain, and both currencies are safe, featuring secure end-to-end encryption.

Litecoin and Dogecoin both allow peer-to-peer transactions worldwide without any intervention from a central authority such as a bank or government.

In addition, both Dogecoin and Litecoin can be used in the retail market to purchase goods and services. Lastly, both Litecoin and Dogecoin offer faster transaction speeds than Bitcoin.

However, Litecoin and Dogecoin differ in the following ways:

1. Market capitalisation
2. Distribution
3. Transaction Speed

 

      1. Market Capitalisation

Dogecoin has a much higher market capitalization than Litecoin. As of October 20, Dogecoin has a market capitalization of $33.5 billion+ while Litecoin has a market cap of $13.1 billion+

 

      2. Distribution

Dogecoin does not have a fixed supply while Litecoin has a coin cap of 84 million LTC, which means that Dogecoin can be mined infinitely, and the more DOGE is mined, the more will be created.

 

      3. Transaction Speed

Dogecoin has a faster transaction speed than Litecoin, with Dogecoin transactions verified within a minute while Litecoin takes up to 2.5 minutes for a transaction to be verified.

When considering these factors, Litecoin is better as a currency because it is accepted by more businesses, while Dogecoin is used to tip content creators on social platforms such as Reddit.

	Dogecoin	Litecoin
Price change 20/21	+7,300%	+288%
Market Cap	$33.5 Billion+	$13.1 Billion+
Past Hacks	None	None
Popularity	Very High	High
Altcoin Rank	#9	#14

What is the difference between Litecoin and NEO?

NEO was launched in 2014, and even though it is a much younger project than Litecoin, it has experienced overall success because of its unique technology.

NEO is a blockchain-based platform that supports a native token, NEO, and allows for the development of both digital assets and smart contracts in its proprietary ecosystem.

NEO, therefore, resembles Ethereum because it aims to automate the management of digital assets by employing smart contracts, with the end purpose of building a distributed network-based smart economy system.

The differences between Litecoin and NEO are as follows:

• Transaction speeds – Litecoin's block verification is 2.5 minutes, while NEO can process 10,000 transactions in a second, making NEO superior to Litecoin.
• Market Capitalisation – Litecoin ranks higher than NEO in terms of market cap, with NEO on $3.2 billion while Litecoin has a market cap of $13.1 billion.
• Mining – Litecoin uses a Scrypt Proof-of-Work algorithm that makes LTC minable, while NEO uses a Delegated Byzantine Fault Tolerance algorithm, making NEO non-minable.

 

NEO is better as a blockchain platform where digital assets can be managed through smart contracts. Litecoin supports smart contract technology, but it is better as a digital currency that is used to pay for goods and services.

 

	NEO	Litecoin
Price change 20/21	+160%	+288%
Market Cap	$3.2 Billion+	$13.1 Billion+
Past Hacks	None	None
Popularity	Medium	High
Altcoin Rank	#52	#14

 

What is the difference between Litecoin and NFTs?

Nonfungible tokens (NFTs) are digital assets that each have a unique value, with no two NFTs holding the same characteristics or value as another. Litecoin, on the other hand, is fungible, which means that one LTC has the same value and characteristics as another LTC.

Litecoin is used as a platform where international transactions can be carried out fast, securely, and at a reduced price. The market cap for LTC is over $13.1 billion, while the NFT market is expected to rise to over $1 billion by the end of 2023.

NFTs consist of any digital collectibles such as art, games, video clips, and many other tokens that often sell for millions at auctions.

 

What is the difference between Litecoin and Solana?

Solana is a blockchain network that aims to develop an ecosystem that consists of cryptocurrency-powered products and services. Solana differs from Litecoin and Bitcoin but has similar features to Ethereum.

Solana is well-known for its lightning-fast transaction speeds of more than 50,000 transactions per second, which is more than Ethereum and Bitcoin combined, all this at a fraction of the cost.

In addition to this, Solana is versatile, and it allows developers to write and launch customizable applications in a wide range of languages on its proprietary blockchain.

SOL, Solana's native token, can be used to pay for the execution of programs and to send transactions.

The core differences between Litecoin and Solana are as follows:

• Transaction Speed – Litecoin's verification takes up to 2.5 minutes, while Solana can process more than 50,000 transactions.
• Use for the token – SOL is used during the development of DApps and to pay transaction fees, while LTC is a digital currency that can be used to pay for goods and services.
• Distribution – There is a fixed supply of Litecoin of 84 million LTC, while SOL does not have a fixed supply.
• Market Capitalisation – Solana has a much higher market capitalization than Litecoin, of over $52 billion compared to Litecoin's $13.1 billion.
• Technology – Litecoin uses a Proof-of-Work Scrypt mining algorithm while Solana uses a Proof-of-History and a Proof-of-Stake consensus, which means that SOL is not a minable coin like LTC.
• Popularity and Demand – Solana ranks higher than Litecoin on the altcoin list by market capitalization, with Solana ranked #7 while Litecoin is #14.

 

Solana is the better option for the development of smart contracts and DApps and the quick transfer of funds.

Litecoin is a decent currency that is accepted by many merchants and retailers as a payment method.

	Solana	Litecoin
Price change 20/21	+160%	+288%
Market Cap	$52 Billion+	$13.1 Billion+
Past Hacks	None	None
Popularity	Very High	High
Altcoin Rank	#7	#14

 

What is the difference between Litecoin and Cardano?

Litecoin is a peer-to-peer cryptocurrency and an open-source system that has an MIT/X11 license. Cardano is a public blockchain platform that has an open-source, decentralized system that can facilitate peer-to-peer transactions with ADA, its native token.

Litecoin and Cardano differ in the following ways:

1. Market Capitalisation
2. Function
3. Hash Algorithm
4. Cryptocurrency Blockchain

 

      1. Market Capitalisation

Litecoin has a market cap of $13.1 billion, while Cardano has a market cap of more than $71 billion, ranking it much higher than Litecoin.

 

      2. Function

Litecoin has a decentralized payment mode that is free of centralization, and Litecoin serves to transfer funds between individuals and businesses without intervention. Cardano is a platform where ADA can be exchanged, and Cardano is a smart contract platform that ensures stability and security.

 

      3. Hash Algorithm

Litecoin uses Scrypt in its Proof-of-Work as an online backup service. Cardano uses Ouroboros in its Proof-of-Stake (PoS) algorithm, which helps to undermine energy while it processes blocking.

 

      4. Cryptocurrency Blockchain

Litecoin follows a Proof-of-Work which helps it minutiae information into a more expatriate form through computational efforts. Cardano, on the other hand, uses a Proof-of-Stake (PoS).

This is used as the protocol of consensus mechanism for the blockchain, using far less energy, and it also eliminates unwanted data and/or records.

 

Cardano is the best option for the development and launch of smart contracts and DApps, while Litecoin is best used as a currency to purchase goods and pay for services from supporting merchants.

	Cardano	Litecoin
Price change 20/21	+2,100%	+288%
Market Cap	$71.9 Billion+	$13.1 Billion+
Past Hacks	None	None
Popularity	Very High	High
Altcoin Rank	#4	#14

Does KeepKey support Litecoin?

Yes, KeepKey supports Litecoin (LTC).

 

What is the Litecoin Foundation?

The Litecoin Foundation is a non-profit organization that is registered in Singapore. The purpose that the Litecoin Foundation serves is to advance Litecoin for the good of society. They aim to do this by developing and promoting innovative blockchain technology.

The Litecoin Foundation consists of full-time and volunteer support from countries around the globe, with the following core members:

• Charles Lee as the Managing Director
• Xinxi Wang as a Director
• Alan Austin as a Director
• Adrian Gallagher as a Full-Time Developer
• Keith Yong as Operations Director
• David Schwartz as a Project Director, and several other members.

 

The Litecoin Foundation is promoting the future of Litecoin through a series of strategic partnerships to solidify the cryptocurrency's outlook.

Litecoin Foundation has partnered with many companies, and it is tagged as one of the most collaborative cryptocurrencies in the world.

Litecoin is also known as the “Bitcoin lite” version that boasts faster transaction speeds, cheaper transaction fees, and a significant amount of potential as a digital currency.

Some of Litecoin's key partnerships include:

• UFC (since 2018) – a partnership that will allow the Litecoin logo to be placed on the canvas of UFC fights, a massive milestone for Litecoin.
• The Miami Dolphins partnership made it official that Litecoin is the cryptocurrency of one of the most popular NFL teams in the United States.
• WEG Bank AG – there is an agreement between the Litecoin Foundation, TokenPay, and Nimiq, which allows the Litecoin Foundation 30% ownership of equity in WEG Bank AG, which is a small-scale German bank that specializes in real estate.

 

Does Litecoin Foundation coexist with Litecoin?

Yes, the Litecoin Foundation coexists with Litecoin.

The purpose of the Litecoin Foundation is to advance Litecoin by developing and promoting innovative blockchain technologies.

The Litecoin Foundation is the team that is behind the development and operation of Litecoin. For this reason, both the Litecoin Foundation and Litecoin go together.