Litecoin Wallets

What is Litecoin?

Created in 2011 by its founder Charly Lee. Litecoin functions as a lite weight version of Bitcoin. Having the blockchain hard forked of Bitcoin. With a faster block time, it can validate transactions faster on its base level. Litecoin, just like Bitcoin, uses a proof of work consensus mechanism. This means the so-called miners have to spend electricity and computer power to validate transactions. Litecoin, sometimes also called the silver to Bitcoins gold. Can just like the Bitcoin base layer not transact fast enough for regular payments. Because of this Litecoin adopted the Lightning Network as well. With the first-ever lightning transactions to have taken place on Litecoin.

These days Litecoin is used a lot when Bitcoins transaction prices go up. As the Blockchain has cheaper fees and a faster block time. Many people use digital currency to just make a simple transfer of value without paying too much.

The future of Litecoin

Litecoin has proven the test of time so far and stands as one of the top cryptocurrencies. Because Litecoin still has a big developer group it will most likely see upgrades in the future. With many people around suggesting to make Litecoin more privacy-focused. Besides its own use cases, many Bitcoiners see Litecoin as a testnet to Bitcoin and prefer to test new code on Litecoin first before deploying it on Bitcoin. This does not give Litecoin its value of today but does give it more relevance heading into the future. But with a strong community around it, no one can really say what upgrades the network will undergo in the future.

CAN’T FIND YOUR WALLET?

If you are looking for a specific Litecoin wallet on our platform but can not find it. Feel free to let us know by submitting a new Litecoin wallet and/or a change to an existing wallet through our contact page. This way we can provide you with the best quality wallet listing service in the world!