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You've likely heard some of the following terms if you've paid attention to the world of finance: Cryptocurrency, Blockchain, Bitcoin, Bitcoin Cash, and Ethereum. But what do they mean? And why is cryptocurrency suddenly so hot? As society become increasingly digital, financial services providers are looking to offer customers the same services to which they're accustomed, but in a more efficient, secure, and cost effective way.
The origins of blockchain are a bit nebulous. A person or group of people known by the pseudonym Satoshi Nakomoto invented and released the tech in as a way to digitally and anonymously send payments between two parties without needing a third party to verify the transaction.
It was initially designed to facilitate, authorize, and log the transfer of bitcoins and other cryptocurrencies. Blockchain tech is actually rather easy to understand at its core. Essentially, it's a shared database populated with entries that must be confirmed and encrypted. Think of it as a kind of highly encrypted and verified shared Google Document, in which each entry in the sheet depends on a logical relationship to all its predecessors.
Blockchain tech offers a way to securely and efficiently create a tamper-proof log of sensitive activity anything from international money transfers to shareholder records. Blockchain's conceptual framework and underlying code is useful for a variety of financial processes because of the potential it has to give companies a secure, digital alternative to banking processes that are typically bureaucratic, time-consuming, paper-heavy, and expensive.
Cryptocurrencies are essentially just digital money, digital tools of exchange that use cryptography and the aforementioned blockchain technology to facilitate secure and anonymous transactions. There had been several iterations of cryptocurrency over the years, but Bitcoin truly thrust cryptocurrencies forward in the late s. There are thousands of cryptocurrencies floating out on the market now, but Bitcoin is far and away the most popular.
Bitcoin, Litecoin, Ethereum, and other cryptocurrencies don't just fall out of the sky. Like any other form of money, it takes work to produce them. And that work comes in the form of mining. But let's take a step back. Satoshi Nakamoto, the founder of Bitcoin, ensured that there would ever only be 21 million Bitcoins in existence.
He or they reached that figure by calculating that people would discover, or "mine," a certain number of blocks of transactions each day. At the moment, that reward is Therefore, the total number of Bitcoins in circulation will approach 21 million but never actually reach that figure. This means Bitcoin will never experience inflation. The downside here is that a hack or cyberattack could be a disaster because it could erase Bitcoin wallets with little hope of getting the value back.
As for mining Bitcoins, the process requires electrical energy. Miners solve complex mathematical problems, and the reward is more Bitcoins generated and awarded to them.
Miners also verify transactions and prevent fraud, so more miners equals faster, more reliable, and more secure transactions. Thanks to Satoshi Nakamoto's designs, Bitcoin mining becomes more difficult as more miners join the fray.
In , a miner could mine Bitcoin in a matter of days. In , it would take approximately 98 years to mine just one, according to 99Bitcoins. But because so many miners have joined in the last few years, it remains difficult to mine loads. The solution is mining pools, groups of miners who band together and are paid relative to their share of the work. Since its inception, Bitcoin has been rather volatile. As the number moves toward the ceiling of 21 million, many expect the profits miners once made from the creation of new blocks to become so low that they will become negligible.
But as more bitcoins enter circulation, transaction fees could rise and offset this. As for blockchain technology itself, it has numerous applications, from banking to the Internet of Things.
It is expected that companies will flesh out their blockchain IoT solutions. Blockchain is a promising tool that will transform parts of the IoT and enable solutions that provide greater insight into assets, operations, and supply chains.
It will also transform how health records and connected medical devices store and transmit data. Blockchain can help to address particular problems, improve workflows, and reduce costs, which are the ultimate goals of any IoT project.
Bitcoin Ethereum Cryptocurrencies Live. Pre-market AM. Bitcoin's slump may have been driven by a billion-dollar Ponzi scheme, miners cashing out, and a volume slump. Some outraged users are asking for his body to be exhumed to prove he's actually dead. Dollar Euro. Chart Bitcoin 7, Page: 1 2 3. Currency Charts. Intraday 1m 3M 6M 1y 5y. Currency Converter More. About cryptocurrencies. What is blockchain technology?
First, we'll explain the blockchain basics. Enter blockchain technology. How does blockchain technology work? What are cryptocurrencies? How do you mine cryptocurrency?
Litecoin Price Prediction in 2019
There are multiple factors that could make it happen. Disclaimer: The opinion expressed here is not investment advice — it is provided for informational purposes. It does not necessarily reflect the opinion of U. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bitcoin is a decentralized digital currency created by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in It does not rely on a central server to process transactions or store funds. There are a maximum of 2,,,,, Bitcoin elements called Satoshis, the unit has been named in collective homage to the original creator , which are currently most commonly measured in units of ,, known as BTC. There will only ever be 21 million Bitcoin BTC to ever be created. As of January , it is the most widely used alternative currency, now with the total market cap around billion US dollars. Bitcoin has no central issuer; instead, the peer-to-peer network regulates Bitcoins, transactions and issuance according to consensus in network software. These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain.
There are multiple factors that could make it happen. Disclaimer: The opinion expressed here is not investment advice — it is provided for informational purposes. Whaat does not necessarily reflect the opinion of Wgat. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose. Litecoin, the early Bitcoin spin-off that appeared on the market back in Octoberholds fourth place on the CoinMarketCap CMC list of the biggest cryptocurrencies by market capitalization.
In this article, U. Today is brushing the dust off its crystal ball to determine what is holding up for Litecoin in one or five years.
The biggest challenge for Litecoin is to prove why investors should ditch Bitcoin, the crypto trailblazer, for one of its later versions. The cryptocurrency emerged as Bitcoin-Lite, which essentially explains the name of the coin. Litecoin does have plenty of similarities with its older brother, but it offers 2.
Litecoin has always been there alongside Pricee. For instance, LTC was the second biggest cryptocurrency as of April 28,with a market capitalization of On Sep. As of March 9,what is the price of bitcoin lite occupies fourth place with a market capitalization of 3. As of late, Litecoin is placing more emphasis on privacy in an attempt to become an anonymous version of Bitcoin that would rival the likes of Monero and Zcash.
Litecoin founder Charlie Lee earlier himself revealed that the network would add Confidential Transactions as early as in If that happens, one should expect a significant price increase. If Litecoin continues to move in that direction, its price will continue increasing throughout and Just like Bitcoin, Litecoin is a Proof-of-Work PoW currency, and mining rewards are the bread and butter of cryptocurrency miners. The upcoming block reward reduction will have a significant impact on its price.
Miners will not be selling the same amount of LTC, which will drastically reduce the supply of the coin. If the demands remain at the same level, the supply reduction will make the LTC price skyrocket.
The Litecoin halving is expected to occur in August The mining reward will go from 25 LTC to Since history tends to repeat itself, it is reasonable to expect a brand-new ATH in Charlie Lee had headlines around the globe after selling off all of his Litecoin holdings at the peak of orice bull market. However, Lee later claimed that his decision to jump ship was motivated by solely good intentions — he wanted to express his opinion about the state of the cryptocurrency market without being accused of manipulation.
Very few people bought the excuse with some even suggesting that the mammoth-sized sell-off was an inside job. As reported earlier by U. Gitcoin, he is currently focusing on streamlining the merchant adoption of Litecoin. When it comes to long-term price predictions, not a single expert could give a definitive answer. The pace of Litecoin adoption if LTC fails to break into the mainstream, there is a very pricee chance that its price will shoot through iw roof. The team and management infighting is never good for any project, and Litecoin has to avoid any conflicts and disagreements within the team.
The state of the cryptocurrency market altcoins greatly depend on the price of Bitcoin, and the growing institutional interest could give LTC a huge boost. Cryptocurrency regulations tge the globe if regulators crack down on Bitcoin, it will drag down altcoins as. It is worth mentioning that a lot of folks in the cryptocurrency space see Litecoin LTC as the best option pirce long-term investment given that this digital asset can serve as a what is 0001 bitcoin worth of value.
Bitcoin is often called digital gold while Litecoin is digital silver. No matter how many new coins appear in the crypto space, Bitcoin and Litecoin are the two O.
Yes, there are many factors that could push the price of Litecoin up what is the price of bitcoin lite feature, halving, increased adoption. Unless top altcoins stop tracking Bitcoin, it is highly likely that LTC will follow the cryptocurrency market. Over the past few years, cryptocurrency enthusiasts have learned that there is nothing impossible, but one thing litf certain — no one can predict for sure how much Litecoin is going to cost in Alex Dovbnya aka AlexMorris is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption.
Alex authored more than 1, stories for U. Today, CryptoComes and other fintech media outlets. What to expect from BTC in the near future? We can say about the RSI indicator, which is about to get in the oversold what is the price of bitcoin lite. What does it mean for us? Of course, for most people, a reasonable question is where the correction ends One of the possible ways, you can find on the chart. And this corresponds to the expectations of trading legend Peter Brandt.
It could mean that we are in an extended flat pattern. If that scenario is correct, we are about to see some growth. The weekly chart of the total market cap looks bearish. On a what is the price of bitcoin lite chart, the situation looks much better because here we have already broken the negative trend and this can be interpreted as a return of some demand oite we are talking about the SPOT market.
In general, the situation is quite interesting. Lots of traders would like to see another panic sale, but perhaps Bitcoin will not present give us such a gift this time.
Dmitry has over four years of cryptocurrency trading, experience in partnering with crypto funds and internal business intelligence of exchanges such as Starexchangealliance, in particular with Exrates.
Alex Dovbnya. Cover image via www. Imabe by pexels. About the author Alex Dovbnya. Log in to leave comment:. Recommended articles. IQ MIning.
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Related Articles. Chart Bitcoin 7, Whereas state currencies such as the U. This is where Litecoin distinguishes. Bitcoin is lacking a clear directional bias for the eighth consecutive day as litecoin continues to surge. Miners solve complex mathematical problems, and the reward is more Bitcoins generated and awarded to. Partner Links. Essentially, it's a shared database populated with entries that must be confirmed and encrypted. Therefore, the total number of Bitcoins in circulation will approach 21 million but never actually reach that figure.