Litecoin (LTC) / USD

About Litecoin (LTC)

Litecoin was introduced in 2011 by an MIT graduate and former Google engineer Charles Lee. It is an altcoin based on the open-source code of Bitcoin, with a few amendments made to enhance the same. Though both Bitcoin and Litecoin are decentralised payment networks, the latter stands out with the methodologies used. Litecoin is grounded on Scrypt for its proof of work pattern and performs much faster when it comes to the generation of blocks. Scrypt is based on a key-derivative function that is password protected. Litecoin was among the foremost altcoins (alternate coins to Bitcoin) that were developed using the open-source code of Bitcoin. Like all other crypto assets, Litecoin is not issued by any conventional bank or government authority but created through a process called ‘mining’ based on an elaborate set of transactions using cryptography. These transactions are decentralized as they work on the common consensus verification process.

Litecoin has the acronym of LTC, and the maximum to ever be in circulation is fixed at 84 million coins. Litecoin works as a series of blocks that are generated on the network. These blocks are ledger entries of Litecoin transactions, and typically, a new block is produced every 2.5 minutes. As it is an open-source network, these Litecoin blocks are visible to all and verified by a mining software by participants referred to as miners. The blocks can only enter the Litecoin chain if a miner has approved it, and this acts as a record for all LTC coins that enter the system. The contribution of miners is rewarded with LTC coins, and to regulate the circulation, the number of coins given as incentive reduces over time. The first successful contribution was rewarded with 50 LTC, and this number stands to be halved at regular intervals until the maximum LTC coin cap is reached. The current reward stands at around 12.5 Litecoins, and halved at every 840,000 block interval.

In terms of market capitalization, Litecoin usually ranks between the top 15 to 20 on the list of crypto assets, and currently (March 2022), the live price of LTC is $126.09 USD, with a trading volume of $586,783,345 USD within 24 hours. Presently, approximately 69,933,106 Litecoins are in circulation, and the market capitalization is around $8,818,200,395 USD. Litecoin has gained immense popularity since it was introduced, and more than 2,000 retailers and merchants accept LTC as a form of payment across the globe. The testing of Mimblewimble transactions on Litecoin has led to the Mimblewimble Extension Block (MWEB) upgrade, bringing about measurable benefits in terms of its scalability and fungibility.

How to Buy Litecoin With ZebPay?

You can get started with just a few easy steps:

• Register on ZebPay crypto exchange, and create an account.
• As standard verification, upload your documents and complete the KYC process.
• Choose the amount of money you want to invest and load your virtual wallet.
• Buy Litecoin (LTC) with the deposited funds.

Why Buy Litecoin With ZebPay?

• ZebPay has completed over 10 billion transactions and has an active user base of over 5 million traders.
• The interface and information available make it extremely easy for one to open an account.
• Guidelines are available to ensure you benefit from maximum capital gains.
• ZebPay currently has a user rating of 4.1 and offers additional features for passive income such as lending and HODL.