[Crypto projects](https://revain.org/projects/) › Litecoin # Litecoin (LTC): how it works, supply and reviews Layer 1 blockchain ## Key facts - **Ticker**: LTC - **Category**: Layer 1 blockchain - **Network**: own blockchain - **Launched**: 2011-10 - **Mining algorithm**: Scrypt - **Official site**: [litecoin.org](http://litecoin.org) - **Whitepaper**: [crypto-risk-metrics.com/wp-content/uploads/2025-04-22-White-paper-Litecoin-FFG-D74JZ1VRD.pdf](https://crypto-risk-metrics.com/wp-content/uploads/2025-04-22-White-paper-Litecoin-FFG-D74JZ1VRD.pdf) - **Source code**: [github.com/litecoin-project/litecoin](https://github.com/litecoin-project/litecoin) Data: CoinGecko, 2026-10-27. Only projects that still trade with meaningful volume are listed. ## What is Litecoin Litecoin is a peer-to-peer digital currency launched in October 2011 and designed for everyday payments. It is a proof-of-work blockchain derived from Bitcoin, with faster 2.5-minute blocks, the Scrypt mining algorithm and a cap of 84 million LTC. Since 2022 it also supports MWEB, an optional privacy and scaling layer. ## Network and consensus | Parameter | Details | |---|---| | Type | Peer-to-peer digital currency with its own blockchain; no central authority issues coins | | Consensus | Proof of work using the memory-intensive Scrypt algorithm; merge-mined with Dogecoin since 2014 | | Block time | About 2.5 minutes; difficulty adjusts every 3.5 days | | Launched | October 2011 | | Smart contracts | No general-purpose smart contracts; optional confidential transactions through the MimbleWimble Extension Block (MWEB) | | Programming language | Reference client Litecoin Core, open source under the MIT licence | ## Supply and issuance | Parameter | Details | |---|---| | Maximum supply | 84,000,000 LTC, enforced by the consensus code | | Issuance | New coins are issued to miners as a block reward that started at 50 LTC per block | | Halving | Block reward halves every 840,000 blocks, roughly every four years | ## What LTC is used for - Payments, remittances and peer-to-peer transfers. - Paying transaction fees to miners. - Optional confidential transfers through MWEB. ## Who develops and governs Litecoin - **Founders**: Charlie Lee, then a Google engineer, created Litecoin - **Foundation**: Litecoin Foundation, a nonprofit established in 2017 that supports development and adoption; Charlie Lee is a director - **Legal entity**: Litecoin Foundation Ltd. (Singapore, UEN 201709179W) and Litecoin Foundation Inc. (United States, 501(c)(3) nonprofit) - **Developer**: Litecoin Core is developed in the open by contributors in the litecoin-project GitHub organisation - **Open source**: Yes, MIT licence ## History | Date | Event | |---|---| | October 2011 | Litecoin launched; its genesis block quotes a 5 October 2011 New York Times headline. | | 2014 | Merged mining with Dogecoin began. | | 2017 | Segregated Witness (SegWit) activated on Litecoin in late April, about four months before Bitcoin. | | 2017 | The Litecoin Foundation was established as a registered nonprofit. | | 8 May 2022 | Litecoin Core 0.21.2 released with full node, wallet and mining support for MWEB. | ## Security and audits - The Litecoin Foundation states the network has had no downtime in more than 14 years of operation. - MWEB was activated by soft fork, so older clients remain compatible. ## Risks and caveats - The Litecoin Core README describes Litecoin as an experimental digital currency. - MWEB privacy is opt-in and limited: funds moving into and out of the extension block remain visible, which can link users in some cases. ## Official links - Website: [litecoin.org](https://litecoin.org/) - Website: [litecoin.com](https://litecoin.com/) - Source code: [github.com/litecoin-project/litecoin](https://github.com/litecoin-project/litecoin) ## Questions and answers **What is Litecoin (LTC)?** Litecoin is a peer-to-peer proof-of-work digital currency launched in October 2011 for everyday payments, with 2.5-minute blocks and optional MWEB privacy. **Who created Litecoin?** Litecoin was created by Charlie Lee, then a Google engineer. The nonprofit Litecoin Foundation, founded in 2017, supports its development. **What is the maximum supply of Litecoin?** 84 million LTC. The block reward started at 50 LTC and halves every 840,000 blocks, roughly every four years. **How does Litecoin work?** Miners secure the network with Scrypt proof of work and earn new LTC plus fees. A new block is produced about every 2.5 minutes. ## Sources - [CoinGecko — Litecoin](https://www.coingecko.com/en/coins/litecoin) - [Litecoin Foundation — litecoin.com home page (Wayback Machine snapshot)](https://web.archive.org/web/2026/https://litecoin.com/) - [Litecoin Foundation — About the Foundation (Wayback Machine snapshot)](https://web.archive.org/web/2026/https://litecoin.com/litecoin-foundation) - [Litecoin Foundation — Learning Center (Wayback Machine snapshot)](https://web.archive.org/web/2026/https://litecoin.com/learningcenter) - [Litecoin Core — README](https://raw.githubusercontent.com/litecoin-project/litecoin/master/README.md) - [Litecoin Core — src/amount.h](https://raw.githubusercontent.com/litecoin-project/litecoin/master/src/amount.h) - [Litecoin Core — src/chainparams.cpp](https://raw.githubusercontent.com/litecoin-project/litecoin/master/src/chainparams.cpp) - [Litecoin Core — src/validation.cpp](https://raw.githubusercontent.com/litecoin-project/litecoin/master/src/validation.cpp) - [Litecoin Core 0.21.2 release notes](https://github.com/litecoin-project/litecoin/releases/tag/v0.21.2) ## More in this section - [Cardano (ADA)](https://revain.org/projects/cardano/) - [Stellar (XLM)](https://revain.org/projects/stellar/) - [Bitcoin Cash (BCH)](https://revain.org/projects/bitcoin-cash/) - [Hedera (HBAR)](https://revain.org/projects/hedera-hashgraph/) - [Tether Gold (XAUT)](https://revain.org/projects/tether-gold/) - [Quant (QNT)](https://revain.org/projects/quant/) - [All Crypto projects →](https://revain.org/projects/) ## How voting works Votes are anonymous and carry no text. 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