EUR/USD 1.15709
-0.060%
Gold 4210.65
-0.003%
Oil 82.881
-2.644%
USD/JPY 160.200
0.149%
GBP/USD 1.34105
-0.037%
GBP/JPY 214.841
0.121%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On June 14th, a special meeting to promote the construction of the Cross-Strait Integrated Development Demonstration Zone was held in Xiamen, Fujian Province on the 13th. Wang Huning, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Chairman of the National Committee of the Chinese Peoples Political Consultative Conference, attended and delivered a speech. He stated that it is necessary to thoroughly implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee, implement General Secretary Xi Jinpings important expositions on Taiwan-related work and the Partys overall strategy for resolving the Taiwan issue in the new era, and build a high-quality Cross-Strait Integrated Development Demonstration Zone to promote greater achievements in cross-strait integrated development during the 15th Five-Year Plan period. Wang Huning stated that during the 15th Five-Year Plan period, deepening cross-strait integrated development and building the Cross-Strait Integrated Development Demonstration Zone will usher in broad development opportunities and prospects. Support should be given to Fujian to explore new mechanisms, new paths, and new models for cross-strait integrated development, promote higher-quality, deeper, and broader integration, and further leverage the leading role of the Cross-Strait Integrated Development Demonstration Zone.June 14th - This morning, the Songjiawan Downward Tunnel and the Pujia Gou Upward Tunnel, two key connecting tunnels located at Lezhi Station in Ziyang, Sichuan Province, were successfully completed, marking a crucial breakthrough in the hub connection project between the Chengdu-Chongqing Central Line High-Speed Railway and the Chengdu-Dazhou-Wanzhou High-Speed Railway. Lezhi Station is a newly built station and the only hub station connecting both high-speed railways simultaneously. The two connecting tunnels link the main lines towards Chengdu and Chongqing respectively, providing convenient conditions for trains to cross lines and turn around for traffic congestion relief.June 14th - According to US sources on the 13th, a US military fighter jet crashed on a mountain in Washington state, triggering a wildfire. The pilot ejected safely. It is understood that the F/A-18 Super Hornet fighter jet, belonging to the US Marine Corps, was conducting "routine training" before the crash.On June 14, it was reported that on June 13, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Mongolian Foreign Minister Battsetseg in Ulaanbaatar. Wang Yi emphasized that China is willing to work with Mongolia, under the strategic guidance of the two heads of state, to continue efforts towards building a community with a shared future of peaceful coexistence, mutual assistance, and win-win cooperation. Chinas foreign policy has always maintained continuity and stability, and China is willing to continue to be a trustworthy and reliable partner for Mongolia, providing sustainable support for Mongolias development and revitalization. Chinas 15th Five-Year Plan provides a comprehensive plan for high-quality development over the next five years and also offers the world a list of opportunities. The Chinese and Mongolian economies are highly complementary, and strengthening the alignment of development strategies is conducive to expanding cooperation areas, tapping cooperation potential, and promoting the economic and social development of both countries. China is willing to work with Mongolia to jointly build the Belt and Road Initiative with high quality, expand economic and trade cooperation, promote the improvement and increase of cooperation in various fields, and achieve more tangible results.June 14th - According to the China State Railway Group, from January to May this year, the national railway system transported a total of 1.67 billion tons of freight, with daily loading volume reaching a record high. Data released by the China State Railway Group shows that in the first five months, the national railway system transported a total of 1.67 billion tons of freight, a year-on-year increase of 1.8%; the average daily loading volume was 186,300 wagons, a year-on-year increase of 2.8%, with 202,400 wagons loaded on May 2nd, setting a new record for daily loading volume.

What Is Litecoin?

LEO

Oct 25, 2021 14:08

neiye.png


Litecoin (LTC)


Litecoin (LTC) is an alternative cryptocurrency created in October 2011 by Charles "Charlie" Lee. Litecoin is a fork of Bitcoin (BTC). 


Litecoin is often referred to as the 'silver' to Bitcoin’s 'gold'. This is because Litecoin uses much of the same code as Bitcoin and therefore shares many similarities, but it is currently faster and cheaper. While Litecoin shares the same protocol as Bitcoin, it operates on its own separate blockchain.


Charlie Lee is a graduate of the Massachusetts Institute of Technology and a former Google engineer who became interested in Bitcoin in 2011. According to Lee, "In October of 2011, I was playing around with the Bitcoin code base, and I guess the short of it was that I was just trying to create...a fork of Bitcoin. It was mainly a fun side project.”


Bitcoin vs. Litecoin


Although Litecoin shares many similarities to Bitcoin, it has a number of differences in terms of the mining algorithm it uses, fees, supply and speed at which transactions are confirmed.


bitcoin VS lit.png

Photo: investopedia


Transaction differences


One of the primary differences between the two cryptocurrencies is that Litecoin takes 2.5 minutes to generate a block of transactions, as opposed to Bitcoins 10 minutes. This means that Litecoin can confirm transactions roughly four times faster than Bitcoin. This difference in transaction time could make Litecoin more attractive to merchants, which is why Litecoin is often regarded as a currency for day-to-day transactions while Bitcoin is currently considered more of a store of value. 


Proof-of-work algorithm


While both are proof of work, Bitcoin uses the traditional SHA-256 hashing algorithm. Litecoin uses a comparatively new algorithm known as Scrypt. Another key difference between the two is that Scrypt requires less computing power, making it possible for regular users to participate in mining with less complexity.


Coin limit and block rewards


The total limit for Bitcoin is 21 million, while Litecoin has a limit of 84 million. Once these limits are reached, no new coins will be created. These rewards are halved in order to limit the number of new coins released into the circulating supply to create scarcity. Bitcoin block rewards are halved every 210,000 blocks, while Litecoin block rewards are halved every 840,000 blocks.


What factors affect litecoin’s price?


Litecoin’s volatility is likely to be driven by similar factors to bitcoin, for example:


Regulation


Cryptocurrencies are currently unregulated by governments and central banks. There are questions about how this could change in this next few years, and what impact this could have on value.


Supply


There is a finite number of litecoin available to be mined (84 million). Availability can also fluctuate depending on the rate at which the coins enter the market.


Press


Prices of litecoin can be affected by public perception, security, longevity and the prices of other cryptocurrencies such as bitcoin.


Adoption


Litecoin hasn’t currently been adopted by businesses or consumers as a method of payment. But, some see potential in the blockchain technology and think this could become more widely adopted in the future.


How to invest Litecoin (LTC)?


Coinbase is the most popular and easiest place to buy and sell Bitcoin, Bitcoin Cash, Ethereum, and Litecoin all in their app 


Also, you can invest Litecoin CFD; while there is no actual ownership, an Litecoin CFD gives investors exposure to the risk and rewards associated with owning Litecoin.


Trading Ethereum CFDs allows you to perform trades quickly, without the need to sign up for a cryptocurrency wallet or register on a cryptocurrency exchange.


Litecoin price prediction


According to long-term forecasters such as the Economy Forecast Agency (EFA), Litecoin predictions 2021-2025 indicate that it could remain around $150 during the first quarter of 2021 and rise to a new peak of $260 in January 2022 then slowly glide back to lower levels the rest of the year to almost $100 in October 2022. 


LTC is expected to spike in the first quarter of 2023 with a peak in March at $193. A downward trend is forecasted for the remainder of the year and in most of 2024. Finally another rise is a main point of Litecoin’s price prediction 2025 with a climb to $174 in January of that year.


Meanwhile, Walletinvestor, known for its conservative forecasts, believes in a bullish Litecoin price forecast in 2021. It believes that in 12 months’ time the LTC price will rise up to $219, making it a good long-term investment.

Suggestion