Litecoin (CRYPTO: LTC), the cryptocurrency that was conceived to offer quick, safe, and low-cost funds via the blockchain has turned 10 years previous.
The Coin: LTC was launched on Oct. 7, 2011, and the community went reside 5 days afterward Oct. 13, 2011.
In the present day, it’s the fifteenth largest coin by market capitalization and scores 0.54% when it comes to market dominance, as per CoinMarketCap knowledge.
LTC has a market cap of roughly $12.35 billion and a circulating provide of 68.7 million tokens.
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The Early Days: LTC, which is an early fork of Bitcoin (CRYPTO: BTC), was based by Charlie Lee, a former worker of the Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) subsidiary Google.
On Thursday, Lee reminisced concerning the early days of LTC in a Twitter thread. The LTC founder stated there have been quite a lot of early altcoins that did not survive like Namecoin, Ixcoin, Locoin, Solidcoin, and so on.
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“I principally took all the pieces that is good from these altcoins (pace, CPU mining) and did a good launch. And that is why Litecoin succeeded the place others failed,” wrote Lee.
“The title Litecoin got here to me fairly shortly. I considered one thing like an Elitecoin first. Then Litecoin jumped out.”
Lee additionally shared the launch thread that was first printed on Bitcointalk.org. He revealed that the New York Instances headline concerning the demise of Apple Inc (NASDAQ:AAPL) co-founder Steve Jobs was included within the genesis hash of LTC.
So I needed to do some reverse engineering and managed to create the genesis block on 10/7/11https://t.co/lArbbucLGU
What lots of people did not know is that I put the headline of Steve Job’s demise within the genesis hash. This proves that the genesis block was created after 10/5/11. pic.twitter.com/Zn7tnRBgUM
— Charlie Lee (@SatoshiLite) October 7, 2021
Lee couldn’t assist however take a dig at Ethereum co-founder Vitalik Buterin, who had criticized the selection of title for Litecoin.
I forgot to say that I selected Litecoin as a result of Litecoin is the lighter model of Bitcoin. It is sooner, cheaper, and simpler to make use of.
And we acquired to see a younger & unknown (on the time) @VitalikButerin hating on the title. I favor Litecoin over Etherium. Wait, is it Ethereum? pic.twitter.com/kCLUUNbiel
— Charlie Lee (@SatoshiLite) October 7, 2021
The Funding: LTC hit an all-time excessive of $412.96 in Might and is buying and selling 56.46% beneath these ranges. At press time, over 24 hours, LTC traded 2.82% greater at $180.18.
Since 2021 started, LTC has gained 43.29%. Compared, BTC has risen 84.58% in the identical time-frame.
The earliest CoinMarketCap knowledge accessible reveals that LTC traded at $4.35 on April 28, 2013. If an investor would have caught with their funding since then, they’d have gained a whopping 4042.06% till now.
This implies $1,000 invested on the time would have bought 229.88 LTC, which as we speak can be price $41,420.69.
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