Litecoin (LTC) LTC

Litecoin (LTC) is one of the oldest cryptocurrencies still in active use. Launched in October 2011 by former Google engineer Charlie Lee, it was designed as a lighter, faster companion to Bitcoin: blocks every 2.5 minutes, a different mining algorithm and a supply capped at 84 million coins. Today Litecoin is mainly used for payments and transfers, and it is listed on almost every major exchange.

What is Litecoin?

Litecoin is a peer-to-peer digital currency built on a fork of the Bitcoin Core code. Charlie Lee released it as open-source software on GitHub on 7 October 2011, with no pre-mine. The idea was simple: keep what works in Bitcoin and change a few parameters to make transactions confirm faster. For this reason Litecoin is often described as “the silver to Bitcoin’s gold”, a slogan that reflects its history more than any official role.

How Litecoin works

Litecoin uses proof-of-work, like Bitcoin, but with the Scrypt hashing algorithm instead of SHA-256. Specialised Scrypt mining machines now secure the network, and since September 2014 many Litecoin miners also merge-mine Dogecoin, which shares the same algorithm.

Parameter	Litecoin	Bitcoin
Launch	October 2011	January 2009
Algorithm	Scrypt	SHA-256
Target block time	2.5 minutes	10 minutes
Maximum supply	84 million LTC	21 million BTC
Halving interval	840,000 blocks	210,000 blocks

Because blocks come four times as often, a payment receives its first confirmation sooner. The block reward halves roughly every four years (see how halvings work): from 50 to 25 LTC in August 2015, to 12.5 LTC on 5 August 2019 and to 6.25 LTC on 2 August 2023. The next halving, to 3.125 LTC, is projected for around mid-2027.

Key dates in Litecoin’s history

• **7 October 2011:** Charlie Lee releases Litecoin on GitHub.
• **September 2014:** Dogecoin starts merge-mining with Litecoin.
• **May 2017:** Litecoin activates Segregated Witness (SegWit), a few months before Bitcoin, opening the way to the Lightning Network.
• **December 2017:** Charlie Lee announces he has sold or donated his LTC to avoid any conflict of interest.
• **May 2022:** the MimbleWimble Extension Blocks (MWEB) upgrade activates, adding optional confidential transactions.
• **2 August 2023:** third halving, to 6.25 LTC per block.
• **27 October 2025:** inception of the Canary Litecoin ETF (LTCC), a Nasdaq-listed fund that holds LTC directly, according to the issuer’s fund page.

Development continues through Litecoin Core, the reference software, whose code is public on GitHub. The non-profit Litecoin Foundation funds part of the work and promotes adoption.

What Litecoin is used for

Litecoin is mainly a payment coin. Fees are usually low, confirmations are quick and the network has run for well over a decade, which makes LTC a common choice for sending money between exchanges, paying online merchants that accept crypto or moving value across borders. MWEB adds an optional privacy layer: amounts in MWEB transactions are hidden, while ordinary transactions stay fully transparent.

Litecoin vs Bitcoin

Litecoin copies Bitcoin’s monetary model with four times the supply and four times the block rate. It has never tried to be a smart-contract platform: its development is conservative and focused on payments, privacy and reliability. Bitcoin keeps by far the most hash power, liquidity and institutional demand. If you want the background first, read our guide what is Bitcoin.

Risks and criticism

• **Little differentiation:** critics say Litecoin offers few features that Bitcoin, its layer-2 networks or stablecoins do not already cover.
• **Mining concentration:** Scrypt mining relies on a small number of large pools and hardware makers.
• **Privacy and regulation:** the optional MWEB privacy layer can make some exchanges and regulators cautious.
• **Misinformation:** in September 2021 a fake press release about a Walmart partnership briefly moved the LTC market before being exposed as a hoax.
• **Volatility:** LTC can fall sharply, like any crypto-asset.

How to store Litecoin

Litecoin is supported by most multi-coin software wallets and by the major hardware wallets. For long-term holdings, a hardware wallet keeps your private keys offline; our guide on setting up a hardware wallet walks you through it. If you want to use MWEB, check that your wallet supports it, since many do not. Back up your recovery phrase on paper or metal, never in a photo or cloud note.