LITECOIN

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What is Litecoin?

Litecoin is one of the most popular and oldest cryptocurrencies. It is pronounced "Lite"coin not "lit" coin.

Litecoin is a global currency that is not owned or created by the government. This is one of the features that makes litecoin special.

Litecoin was founded by Charlie Lee in 2011, as the “silver to Bitcoin’s gold”,  Litecoin is a near identical twin to bitcoin with a few specific changes. Litecoin was developed using a different mining algorithm as to not compete with bitcoin miners, it's blocks are 4x faster at the baselayer and therefore litecoin will always settle faster than bitcoin on-chain, litecoin's fees are much lower than bitcoins allowing for developing countries to use litecoin as a medium of exchange on-chain.

 

Litecoin still uses the same hard and sound monetary properties of bitcoin with a fixed supply of 84 million and ~4 year block rewards halvings. Litecoin also has a faster difficulty adjustment at 3.5 days instead of 2 weeks allowing for better recovery to drastic changes in hashrate. Litecoin was the first to adopt SegWit and the first to implement a lighting transaction.

 

Litecoin developers also proposed a change to dogecoin to allow for merge mining. This is a strategic move that now provides a constant inflation to pay for litecoin/dogecoin miners in the future.

 

Litecoin also uses bitcoin as a testbed and can implement all of the bitcoin development.  Most recently, for example taproot was tested on bitcoin before being activated on litecoin. Likewise bitcoin can use litecoin as a testbed.

Litecoin will also be the first of the two to add a privacy technology that allows for confidential transactions, which in turn will make litecoin fungible. This is the last missing characteristic of great money.

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Litecoin is 4x faster than bitcoin, with 4x the total supply. 

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Litecoin Wallet App (LiteWallet)

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Litewallet is the first standalone Litecoin Wallet built for iOS & Android with a focus on accessibility, security and simplicity. Developed by the Litecoin Foundation, Litewallet makes getting started with Litecoin easier than ever!

HARDWARE WALLETS

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Hardware wallets are secure devices to hold your litecoin

BACKUP RECOVERY WORDS

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Crypto-Keys®

When creating a new wallet either software or hardware, it is important to write down and backup the recovery seed phrase. One option is from Crypto-Keys®

HOW TO PAY WITH LITECOIN

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SPEDN

SPEDN apps use the existing gift card network to allow you to pay with litecoin

CRYPTO PODCASTs

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Hosts Ben Askren and John Kim sit down to educate the masses about Bitcoin, Litecoin, and cryptocurrencies funky style

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Litecoin underground podcast is the best podcast about all things litecoin.