What is Litecoin?

Litecoin was released via an open-source client on Github on October 7, 2011 by Charlie Lee. a Google employee and former Engineering Director at Coinbase.The Litecoin network went live on October 13, 2011. It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (Scrypt, instead of SHA-256), and a slightly modified GUI.

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.

Litecoin reached a $1 billion market capitalization in November 2013.

Huge market growth

On December 18th 2017, Litecoin reached its all-time high, $360.93, which, when compared to the price one year before ($4.40), was an incredible 8200% rise. This is wholly reflective of a booming cryptocurrency marketplace, whose total market cap ballooned from $17.7bn to around $650bn in just one year, an increase of over 3,600%

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