Update: 2018-02-15


Litecoin introduction

Full disclosure, my first cryptocurrency purchase was litecoin and I’ve been an advocate ever since. There is a possibility that I have a bit of a bias towards litecoin. I’ll do my best to provide you with unbiased info

I’m the type of person that always roots for the underdog. They always carry more passion and determination that anyone that has already made it. That raw and uncut grit makes underdogs have the potential to bring down the big dogs.

When I started reading about blockchain and cryptocurrencies litecoin was the coin that I felt was the underdog. It sat in the shadows of bitcoin. Litecoin had everything and more than bitcoin did. It had everything to prove and nothing to lose.

Litecoin’s creator Charlie Lee took the original code from Bitcoin and tweaked it to create litecoin.

His idea was to take bitcoin and make it faster, better, and cheaper. All three of his original goals still hold true till today.

Here is a quick bitcoin to litecoin comparison

Litecoin Overview

Created in 2011 by Charlie Lee a former Google Engineer

Video of Charlie Lee explaining Litecoin and why it was created

  • Peer to Peer Open Source Cryptocurrency

  • 84 million coins can be mined vs 21 million

  • 4x faster than bitcoin

  • Block confirmation timings from 10 min to 2.5 min

  • Scrypt hashing vs SHA256

Litecoin Timeline

2011 – Created

2013 – Charlie Lee started working at coinbase

Early 2017 – Charlie went Part time @ coinbase to work on Segwit

May 2017 – Segregated Witness (Segwit)

May 2017 – Litecoin added to coinbase

Dec 2017  Charlie selling coins



What makes litecoin different?


Thousand cryptos on the market

Litecoin is Payments focused

Gold Vs. Silver Analogy

Smaller payments – Litecoin

Larger payments – Bitcoin

Lightning network testing phase.  Lightning labs performed atomic swap between Bitcoin/Litecoin off chain.  Meaning coins it didn’t record on any blockchain

Focus now is 



Litepay – Feb 26th launch date

Arizona Senate Bil 1091 – Pay tax liabilities with cryptocurrency such as litecoin or bitcoin

Coinbase – Initial platform for most users

  Pricepoint – beginners look at price rather than market cap.  Litecoin is easier to digest, get a full coin, pyschology

  Plugin to accept payments – being released to allow websites to easily accept crypto payments

Future focus is

Smart contracts RSK and payments –

Litecoin Links









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Tony | Blockchain & Cryptocurrency enthusiast