Litecoin LTC
Cryptocurrency · Layer 1 · Proof of Work (PoW) · launched in 2011
№21of 40 004
- $52.89
- Price −2.86%
- $4.43 billion
- Capitalization
- $195.86 million
- Volume over 24 hours
- 0.16%
- Dominance
About the coin
- Circulating supply
- 77.76 million LTC
- Total supply
- 84 million LTC
- Maximum supply
- 84 million LTC
- Fully diluted capitalization
- $4.78 billion
- 24h high
- $54.80
- 24h low
- $52.31
Litecoin (LTC) is one of the oldest and most reliable tier-one cryptocurrencies, created by former Google engineer Charlie Lee in 2011. The project was developed based on Bitcoin's open-source code as a technological improvement to the original network. Thanks to reduced block generation time (just 2.5 minutes), Litecoin provides significantly higher transaction confirmation speed and minimal network fees.
The network operates on a Proof-of-Work (PoW) consensus algorithm using the Scrypt hash function. Limited issuance of 84 million coins and a reputation as a stable payment method have established Litecoin's status as "digital silver" in the market.
Additional information
FAQ
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Litecoin is one of the first and most successful cryptocurrencies in history, launched in October 2011. It is a decentralized peer-to-peer payment network created based on Bitcoin's open-source code. The project was conceived as a lightweight and fast alternative to the leading cryptocurrency for conducting everyday micropayments.
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While Bitcoin, due to its scarcity, high cost, and slow transaction speed, earned the status of "digital gold" (an asset for capital preservation), Litecoin was created as a tool for everyday spending — "digital silver". It is a more accessible, faster, and cheaper coin for transfers, ideal for retail trade.
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There are three main differences: speed, volume, and algorithm. A block in the Litecoin network is formed in just 2.5 minutes (4 times faster than BTC's 10 minutes), ensuring fast transaction confirmation. The maximum LTC emission is 4 times larger at 84 million coins. Additionally, Litecoin uses the Scrypt hashing algorithm instead of SHA-256.
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In 2022, the Litecoin network successfully activated a major MimbleWimble Extension Block (MWEB) upgrade. This technology allows users to optionally make confidential transactions, completely hiding sender and recipient addresses and exact transfer amounts from outside observers, significantly enhancing financial privacy.
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Yes, Litecoin operates on a Proof-of-Work (PoW) consensus algorithm. Due to its use of the Scrypt function, it is mined using specialized ASIC miners (often through merged mining simultaneously with Dogecoin). To protect against inflation, the network undergoes halving every 4 years (every 840,000 blocks), reducing miner block rewards by half.
Legal status of crypto assets in Uzbekistan
This section is for reference only and shows global market data. MONIQ is not a crypto asset service provider, does not carry out operations with crypto assets and does not give individual investment advice.
- Crypto assets are not legal tender in the Republic of Uzbekistan: they cannot be used to pay for goods and services, except in cases directly established by law.
- Residents may buy, sell and exchange crypto assets only through providers licensed by the NAPP — crypto exchanges, crypto shops, crypto depositories and mining pools registered as legal entities resident in Uzbekistan.
- The register of licences is maintained by the National Agency of Perspective Projects. Licences are issued and revoked, so the composition of the register changes — check the status of a venue at the moment of the transaction.
- Until 1 January 2029 transactions with crypto assets are not subject to taxation, and income from them is not included in aggregate income.
- Crypto assets are not traded on the RSE «Toshkent» and are not available through a broker account. There are no guaranteed returns, investments are not insured, and the price may change by tens of percent in a short time.
The information does not replace legal advice. Regulation changes — before any transaction check the current wording of the law and the register of licences at .