Issued: 2011-10-13
Added to Inlock: 2019-01-16
Available services: Savings, Swap, Tokenmarket pair, Loan Collateral
Preferred block explorer:

Litecoin was the first alternative cryptocurrency, based on Bitcoin codebase. In the original version, the creator modify some relevant consensus parameter on the original Bitcoin code, like: reduce block time from ~10 minutes to average 2.5 minutes and also modify the hashing algorithm to create a more ASIC resilient protocol (unsuccessfully). Litecoin was created by Massachusetts Institute of Technology graduate Charlie Lee. Lee is a former Google engineer who became interested in Bitcoin in 2011 and would, after creating Litecoin, join cryptocurrency exchange Coinbase as director of engineering in 2013. Today Litecoin is the cheaper version of Bitcoin, usually popular when Bitcoin network fees are high.