Litecoin

As of today, Litecoin is now available to buy, sell, and trade through Fidelity Crypto®. Litecoin is the third cryptocurrency to be offered by Fidelity Digital Assets℠, along with bitcoin and ethereum. If you&#39;re not familiar with litecoin, here&#39;s what you should know.What is litecoin?Litecoin is a cryptocurrency that aims to be a leaner, faster, and more affordable version of bitcoin. Its supporters believe it could be more efficient as a transactional currency. It was created by computer scientist Charlie Lee, who modeled it after bitcoin&#39;s source code, and its network was launched in October 2011, nearly 3 years after bitcoin went live.How does litecoin work?It&#39;s available through a peer-to-peer network, which means users can send litecoin directly to other users without a third-party intermediary. It also runs on a decentralized proof-of-work blockchain that’s verified and updated by individuals around the world. Like bitcoin, it has preprogrammed halvings that occur roughly every 4 years, with the goal of slowing the rate of litecoin production to prevent inflation. The maximum supply is capped at 84 million litecoins, which is considerably more than bitcoin, which is designed to eventually max out at 21 million.What are some special features of litecoin?<ul><li>It has a unique privacy feature called MimbleWimble Extension Blocks–or MWEB for short–that makes it so people who receive litecoin can’t see how much is in the sender’s wallet.</li><li>Litecoin is optimized for speed and processes transactions in roughly 2.5 minutes. This is much faster but potentially less secure than bitcoin transactions; proof-of-work blockchains typically achieve greater speed by making mining puzzles less complex, but they are not as fast as those of other altcoins that don&#39;t use proof-of-work systems.</li><li>The transaction fees are a lot less expensive on average than those of bitcoin and other blockchains.</li></ul>You can learn more about litecoin in this article <a href="https://www.fidelity.com/learning-center/trading-investing/what-is-litecoin?ccmedia&#61;reddit_crypto&amp;ccchannel&#61;social_organic&amp;cccampaign&#61;litecoin&amp;ccdate&#61;20240717&amp;cccreative&#61;litecoin&amp;ccformat&#61;text" rel="noopener noreferrer nofollow">on the Fidelity site</a>.

Litecoin is now available through Fidelity Crypto®

litecoin

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