Litecoin (CRYPTO: LTC), the cryptocurrency that was conceived to offer quick, safe, and low-cost funds by means of the blockchain has turned 10 years outdated.
The Coin: LTC was launched on Oct. 7, 2011, and the community went dwell 5 days in a while Oct. 13, 2011.
At this time, it’s the fifteenth largest coin by market capitalization and scores 0.54% when it comes to market dominance, as per CoinMarketCap information.
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 in regards to the early days of LTC in a Twitter thread. The LTC founder stated there have been plenty of early altcoins that did not survive like Namecoin, Ixcoin, Locoin, Solidcoin, and many others.
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“I mainly took the whole lot 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 identify 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 in regards to 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 identify 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 received to see a younger & unknown (on the time) @VitalikButerin hating on the identify. I desire 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 Could and is buying and selling 56.46% beneath these ranges. At press time, over 24 hours, LTC traded 2.82% larger at $180.18.
Since 2021 started, LTC has gained 43.29%. As compared, BTC has risen 84.58% in the identical time-frame.
The earliest CoinMarketCap information out there reveals that LTC traded at $4.35 on April 28, 2013. If an investor would have caught with their funding since then, they might have gained a whopping 4042.06% till now.
This implies $1,000 invested on the time would have bought 229.88 LTC, which immediately can be price $41,420.69.
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