What is Litecoin and how does it work?

Litecoin is a peer-to-peer (P2P) virtual currency, which means it is not governed by a central authority. Litecoin's network offers instant, near-zero cost payments that can be conducted by individuals or institutions across the globe.

What is the currency code for Litecoin?

Currency codes for representing litecoin is LTC. Its Unicode character is Ł. One litecoin is divisible to eight decimal places.

When will Litecoin halve?

So when Litecoin first launched, the miner reward for adding a new block to Litecoin’s blockchain was 50 LTC. Over the past few years, that reward has decreased via halving to 12.5 LTC as a block award. The next LTC halving is expected to happen in 2023. How Is Litecoin Used? Litecoin is highly liquid, which makes it a crypto for easier trades.

Is Litecoin still popular?

However, as the cryptocurrency market has become much more saturated and competitive in recent years with new offerings, Litecoin's popularity has waned somewhat. Litecoin has always been viewed as a reaction to Bitcoin. In fact, when Lee announced the debut of Litecoin on a popular Bitcoin forum, he called it the "lite version of Bitcoin."