Convert Litecoin LTC to US Dollar USD

Litecoin was created by Charlie Lee, a former Google software engineer and early Bitcoin enthusiast. He launched the project in October 2011 to improve Bitcoin’s efficiency and scalability. Lee now serves as the Managing Director of the Litecoin Foundation, which supports ongoing development and adoption.

Litecoin shares Bitcoin’s core design but differs in several key aspects. It has a block time of 2.5 minutes (compared to Bitcoin’s 10), a total supply limit of 84 million coins (four times Bitcoin’s), and uses the Scrypt hashing algorithm instead of SHA-256. These differences allow for faster confirmations and broader mining accessibility.

Litecoin was designed to serve as a faster and more efficient medium of exchange for peer-to-peer transactions. Its low fees and quick confirmations make it suitable for everyday payments, microtransactions, and merchant use cases around the world.

Litecoin uses a Proof-of-Work (PoW) consensus mechanism, where miners validate transactions and secure the network by solving cryptographic puzzles. Unlike Bitcoin, which favors specialized ASIC hardware, Litecoin’s Scrypt algorithm allows for more decentralized participation by supporting consumer-grade GPUs.

Litecoin has a fixed maximum supply of 84 million coins. This hard cap ensures scarcity over time, mirroring Bitcoin’s deflationary model. As of 2025, over 74 million LTC are already in circulation.

Similar to Bitcoin, Litecoin undergoes a “halving” approximately every four years, reducing the block reward miners receive by 50%. This mechanism slows the creation of new coins and helps maintain scarcity, potentially influencing supply dynamics over time. The most recent halving occurred in August 2023, reducing the reward from 12.5 LTC to 6.25 LTC per block.

The MWEB upgrade, launched in 2022, added optional privacy and fungibility features to the Litecoin network. It allows users to make confidential transactions that conceal amounts while maintaining full network validation. MWEB also improves scalability by optimizing how transaction data is stored and verified.

No. Litecoin transactions are still publicly visible by default. However, through MWEB, users can opt for confidential transfers that enhance privacy without compromising network transparency or compliance.

Litecoin transactions typically confirm in about 2.5 minutes, making it significantly faster than Bitcoin’s 10-minute average. This speed, combined with low fees, supports use cases such as retail payments, remittances, and everyday transfers.

Litecoin’s fees are among the lowest in the crypto ecosystem, typically costing less than a cent per transaction. This makes LTC ideal for small payments and frequent transfers, especially across borders.

Litecoin is supported by a wide range of wallets, including the multichain Bitcoin.com Wallet, Ledger and Trezor hardware wallets, and various mobile and desktop options. Users can securely store, send, and receive LTC across all major platforms.

Yes. Litecoin can be mined using hardware compatible with the Scrypt algorithm. While it was initially mineable with consumer GPUs, specialized Scrypt ASIC miners now dominate the network. Mining rewards are distributed through Litecoin’s PoW mechanism as new blocks are added.

Yes. Litecoin remains one of the most consistently maintained and upgraded cryptocurrencies. The Litecoin Foundation and Core Development Team continue to release improvements, security patches, and network optimizations.

The Litecoin Foundation is a nonprofit organization based in Singapore that promotes Litecoin adoption, development, and education. It coordinates with global partners to expand the coin’s use in payments, commerce, and innovation.

Litecoin’s blockchain is secured through distributed Proof-of-Work mining and robust cryptography. The network’s decentralized hashrate makes it highly resistant to attacks such as double-spends or 51% attacks, ensuring continuous uptime and trustless operation.