What is Litecoin?
A fast and established alternative in the crypto world
Litecoin is an open and decentralized digital asset launched in 2011 by Charlie Lee, a former Google engineer. It is built on similar technology to Bitcoin but designed for faster and cheaper transactions. With over a decade of operation, Litecoin is one of the oldest and most trusted crypto assets on the market. It is often referred to as “digital silver” compared to Bitcoin’s “digital gold” – a testament to its established role within the broader crypto landscape.
Why Litecoin?
Litecoin offers several advantages that have made it a popular choice among both users and investors:
Fast transactions: Transactions on the Litecoin network are confirmed faster than on the Bitcoin network, making it more suitable for everyday payments.
Low fees: Thanks to its efficient structure, Litecoin generally offers low transaction costs, especially compared to older crypto networks. This makes it suitable for everyday transfers, even though some newer blockchains today offer even lower fees.
Proven technology: With a stable operational history and regular updates, Litecoin is known for its reliability.
LTC: The Digital Silver
LTC, or Litecoin, is the native asset of the Litecoin network and serves both as a medium of exchange and a store of value:
Medium of exchange: LTC is used for fast and cost-effective transfers, making it easy to send money across the world without relying on traditional intermediaries.
Fixed supply: Just like Bitcoin, Litecoin has a maximum supply – 84 million LTC – giving it a deflationary nature.
In 2023, Litecoin completed its third halving, reducing the reward for miners. This is a key feature of the network’s fixed-supply model and means that new LTC is now created at a slower rate – a mechanism often highlighted when discussing the long-term design and sustainability of the asset.
Litecoin's Vision
Litecoin was created to complement Bitcoin by offering faster and cheaper transactions without compromising on security. The project aims to promote accessible and efficient payments globally, especially for everyday use. Driven by an open-source community of developers, miners, and users, Litecoin has stayed true to its original vision: to be an easy-to-use and reliable digital currency.
Through continuous development and proven reliability, Litecoin continues to play an important role in the decentralized financial ecosystem.
Invest in Litecoin
Virtune Litecoin ETP is a physically-backed exchange-traded product (ETP) designed to offer investors a secure and cost-effective way to gain exposure to Litecoin (LTC). This is made possible through a transparent and physically-backed structure with institutional-level security.
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