Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Litecoin Forum => Topic started by: Ricky on May 06, 2021, 11:03:21 AM
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Since 2011, Litecoin has been closely associated with its founder and creator, Charlie Lee, a computer scientist and graduate of the Massachusetts Institute of Technology.
Lee would go on to a career in technology before creating Litecoin, working at Internet giant Google. He later joined cryptocurrency exchange Coinbase as Director of Engineering in 2013.
Once joining the startup, Lee largely put the development of Litecoin aside, saying in 2017 that he thought his most important goal at the time was to help people “own bitcoin and hold bitcoin.”
In late 2017, Lee departed Coinbase to pursue Litecoin development full time. Lee now serves as the managing director of the Litecoin Foundation, a non-profit dedicated to the project.
Source Link: + (More Information)
https://www.kraken.com/learn/what-is-litecoin-ltc
How much do you know about this? Looking forward to everyone's important feedback.
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Thank you for sharing such an informative post. There are many members of that forum who don't know about this topic yet. Hopefully this post has been one of the most instructive for them. I hope many people will know about this by reading this post.
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What is Litecoin (LTC)?
Sharing similarities with Bitcoin, it works on a Proof-of-Workconsensus mechanism. But the platform involves complex computational algorithms to mine blocks that are then fastened to the blockchain of the network, which is a public ledger.
For mining, the platform uses the Scrypt protocol which helps in maintaining extra decentralization. Also, powering confidential transactions, Litecoin turned out to be the network that proved every participant can exchange currencies with zero cost!
Every transaction made on the blockchain remains irreversible and gets stored there forever! Like conventional blockchain technology, literally, nobody has edit access to the data/transaction on the Litecoin blockchain, thereby ensuring security and transparency. Also, on rare conditions where currencies may be looted, the network has a trace print which will make identifying the hacked currencies easy!
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Thank you so much brother for making such a valuable post about this. Because there is always a curiosity in all of us who is making light coins. Maybe there are many of us who do not know due to lack of proper information. But in the way you have explained here, maybe everyone will know or understand this better. No one else should have any problem in this regard
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Thank you so much for sharing so much important information with us.I did not know the details about lite coins in such a way but I hope I have learned a lot about these coins by looking at your post.Lite coins are considered to be one of the best coins in the cryptocurrency market.
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Everyone knows that Satoshi Nakamoto made Bitcoin but very few people know who made Light Coin. Because people don't talk about light coins as much as bitcoins. But of course you deserve a thank you. Because you have presented a very informative post here. Hopefully those who are interested to know about this will definitely know about it if they read your post.
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Litecoin was created by Charlie Lee. Having created Litecoin in the fall of 2011, a peer-to-peer decentralized network that does not require pre-mining. It differed from Bitcoin in two ways: the speed of block creation in the chain and the hashing function. Litecoin uses the scrypt algorithm, which makes crypto mining with ASICs (ASIC applications) and video cards quite difficult. At the same time, a transaction block is formed in Litecoin in 2.5 minutes, which is 4 times less than in the Bitcoin network. At first, cryptocurrency was just a hobby, to which Charlie devoted a small part of his working time, but already in 2013 he had to leave his main job at Google in order to devote himself entirely to the topic of cryptocurrencies. On this occasion, he wrote: “I didn’t want my comments to be interpreted as“ Google approves Bitcoin or Litecoin ”. Litecoin is simply an open source project that I work on in my spare time. Now that I no longer work at Google, I can talk about it more openly. "
Source link: https://tehnoobzor.com/cryptolife/litecoin/2013-kto-sozdatel-laytkoina-istoriya-poyavleniya-kriptovalyuty-charli-li.html
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As far as i know, litecoin was created from the theory of bitcoin and it has called bitcoin fork, next silver bitcoin or something else . But i think the major reason why litecoin created is , the founder of it wanted to show others crypto lover that bitcoin is not the only crypto which people should use only . But litecoin is much easier to use , make transaction , less fee, high speed of transaction and so on reason . I think this is the main reason why litecoin has created . Also i think that litecoin easier to use in case of payment system .
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The light coin maker may not have been as famous as Satoshi Nakamoto. That's why we don't know his name very well. However, those who want to know the name of the person who made the light coin can read this post carefully if they want. If anyone reads this post carefully then you will know better about everything about light coins here.
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MetaverseME gives you the freedom to be yourself, no matter how you appear on the outside. For people who wish to be themselves in the virtual world, this appears to be a good idea.
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GameFi's are quite popular and, in my opinion, very profitable. Their Mint is also live now, according to Twitter. A good choice for increased revenues.