Litecoin (LTC): how it works, supply and reviews
Layer 1 blockchain
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Key facts
- Ticker
- LTC
- Category
- Layer 1 blockchain
- Network
- own blockchain
- Launched
- 2011-10
- Mining algorithm
- Scrypt
- Official site
- litecoin.org
- Whitepaper
- crypto-risk-metrics.com/wp-content/uploads/2025-04-22-White-paper-Litecoin-FFG-D74JZ1VRD.pdf
- Source code
- 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
- Website: litecoin.com
- Source code: 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
- Litecoin Foundation — litecoin.com home page (Wayback Machine snapshot)
- Litecoin Foundation — About the Foundation (Wayback Machine snapshot)
- Litecoin Foundation — Learning Center (Wayback Machine snapshot)
- Litecoin Core — README
- Litecoin Core — src/amount.h
- Litecoin Core — src/chainparams.cpp
- Litecoin Core — src/validation.cpp
- Litecoin Core 0.21.2 release notes
More in this section
- Cardano (ADA)
- Stellar (XLM)
- Bitcoin Cash (BCH)
- Hedera (HBAR)
- Tether Gold (XAUT)
- Quant (QNT)
- All Crypto projects →
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