Litecoin (LTC) Cryptocurrency Economic Model and General Information

What does it do?

Litecoin is a peer-to-peer cryptocurrency forked from Bitcoin. The transaction confirmation time is about 2.5 minutes on average.

Key Features

  • Open source and decentralized.
  • Nearly zero cost transfers.
  • Medium of commerce complementary to Bitcoin.

General information

Company NameLitecoin Foundation Ltd.
Incorporation dateApril 3, 2017
Incorporation Address111 NORTH BRIDGE ROAD
#08-19
PENINSULA PLAZA
SINGAPORE (179098)
Websitehttps://litecoin.com/en/
https://litecoin-foundation.org/
Bloghttps://blog.litecoin.org/
Phonen/a

Economic details

Crypto CurrencyPrice (Euro)24H % Change
LTC
40.290.07%

Initial Funding & Distribution
TickerLTC
Token TypeCryptocurrency
Total Supply SoldThere was no ICO
Total Amount Raisedn/a
Price During the Crowdsalen/a
Hard Capn/a
Whitepapern/a
Initial Token Distributionn/a
Distribution of Funds raisedn/a
Fork DateOctober 13, 2011
Sources: https://en.wikipedia.org/wiki/Litecoin
Top 100 Holders Collectively Own 41.66% (25,103,362.82 Tokens) of LTC. 
Source: https://bitinfocharts.com/top-100-richest-litecoin-addresses.html
Source: https://www.litecoinblockhalf.com/

Social Media

Team

 TitleNameLinkedin
Managing Board DirectorCharlie Lee
Board DirectorXinxi Wang
Board DirectorFranklyn Richards
Board DirectorZing Yang
Director of OperationsKeith Yong
Project DirectorDavid Schwartz
Marketing & CommunicationsJohn Eidson

Development

Total number of Commits67 705 Commits (37 Repositories)

Partners

TokenPay – a payment platform.

Crypto Investor Summit – a blockchain conference.

CoolBitX – a company that created cold storage wallets.

UFC – an American mixed martial arts promotion company.

Aliant Payments Systems – an international mechant services and credit processing company.

TenX – a company that is providing global payments.

CoinGate – a cryptocurrency gateway.

HTC – a consumer electronics company.

Travala – travel booking platform.

Competitors

Bitcoin – a peer to peer technology based cryptocurrency.

Ethereum – a decentralized platform that runs smart contracts and it allows developers to create their own decentralize application.

Bitcoin Cash – a hard fork of Bitcoin with a protocol to fin on-chain capacity.

Stellar – an open source network used to facilitate cross-asset transfers of value.

Decred – a blockchain-based cryptocurrency with a fair system of checks and balances between all parties.

Potential market and clients

The potential of Litecoin adoption depends on the demand for cryptocurrencies in the future. In a scenario when Bitcoin becomes the new gold Litecoin plans to become a silver to it and serve as a medium of exchange.

Utility and economic dynamics

  • LTC can be used as a transfer of value.
  • LTC is also used to pay the fees.