Litecoin is the blockchain on which its native token LTC runs. The entire system and cryptocurrency are based on an open source network that allows for quick and economical transactions globally within the framework of decentralized finance. Created in 2011 by Charlie Lee, a former Google engineer, Litecoin emerged as an alternative to Bitcoin and to date, it is considered one of the most solid and secure platforms, to the point that has never been hacked or violated in any way.
Among other reasons, Litecoin was born with the aim of addressing some of the main challenges presented by Bitcoin.These include operational speed, ecosystem scalability, and the decentralization and democratization of finance within everyone's reach.
By the last week of March, the LTC price was close to the 92,5 dollars, within 289,28 million operations for an estimated 1.472.89 million within a period of 24 hours.
What makes Litecoin a secure platform?
LTC is a digital asset widely accepted as a means of payment for online goods and services and through multiple processors that work with cryptocurrencies. In addition, its high liquidity on major exchanges makes it a popular and growing option in the global market.
Among the latests Moravia's compositions most outstanding features The Litecoin blockchain and its LTC token are worth mentioning:
- High speed in all transactions that run on the blockchain.
- Excellent capacity for handle a large volume of transactions promptly simultaneous.
- Decentralized mining format with independent nodes or terminals around the planet.
- Transaction fees significantly lower than in other networks
- Robust and proven security and without any incidents in more than a decade of existence
- Privacy approach for its users, but with the ability to track each transaction on the blockchain.
- Recognized reputation which has kept LTC as one of the top altcoins on the market.
Why haven't hackers attacked Litecoin?
Litecoin turns 2025, 14 years providing a public network for online transactions based on blockchain and decentralized finance. It is considered a very secure network for several reasons:
Decentralization guaranteed
Like the Bitcoin (BTC) blockchain, Litecoin operates on a decentralized network. This means that It is not controlled by regulations of an official entity such as each country's central banks, the European Central Bank, or the United States Federal Reserve. This makes it difficult for attackers to access data and manipulate the network.
Proof of Work for consensus operations
Litecoin uses a consensus algorithm called Scrypt in its proof-of-work mechanism. This was designed to be more resistant to attacks by using specialized hardware. Such is the case with ASICs or Application-Specific Integrated Circuits which, on the one hand, guarantees encryption and, on the other, encourages greater participation of miners in individual nodes, which contributes to the security of a blockchain network.
The Scrypt algorithm It is used in consensus protocols in the mining process or phaseIts function is to provide the network with a very large memory to allow for a significant amount of space to perform calculations.
By using this technology, LTC has a more decentralized mining with specialized hardware in the style of ASICs, since it makes it possible for miners operate with conventional hardware, such as CPUs or GPUs, and shields node information across the entire blockchain.
Unalterable blockchain
If there is something that characterizes the blockchain, be it LTC or other cryptocurrencies, it is that once the transactions are made, confirmed and recorded in each block or section of the chain, cannot be altered or deleted.
Not even in the case that you want to cancel a particular transaction, which is possible in any blockchain, it is not deleted, but appears in the chain as an operation carried out, rectified or cancelled and, if applicable, the transaction that replaces it appears. This guarantees the integrity of all data.
Secure and consolidated network
After 14 years of operation, Litecoin has operated without major alterations or characteristics inherent to any digital asset.That is, although it is volatile and, consequently, subject to ups and downs, it has built a solid community involving developers, miners, and users. This gives it a reliable track record that has reinforced confidence in its security over the years.
Speed of operations and fast confirmations
All Transactions on the Litecoin blockchain are processed faster than on Bitcoin.In fact, this is one of the features that makes it compete with its strong rival as an alternative cryptocurrency.
The average generation time of a transaction in a block is 2.5 minutesThis significantly reduces the risk of attacks such as double spending.
technology updates
Litecoin keeps up with innovation. That's why it has adopted improvements such as followed or Segregated Witness which means segregated witness. It is an improvement whose main objective is to solve the problems related to the scalability and flexibility of real-time transactionsly according to the demand for these within the blockchain.
SegWit allows data to be separated from the main transaction and free up space in each block that becomes available to accommodate more subsequent transactions. This optimizes efficiency and reduces transaction fees.
Likewise, Litecoin uses Lightning Network technologyThis is a so-called second-layer solution designed to improve the scalability of cryptocurrencies. In this sense, it creates payment channels that run or are stored outside the main chain, hence the name. off-chain data.
This mechanism allows for quick and lower-cost transactions between two parties involved in each transaction. These transactions are then recorded on the main chain only when the channel is closed, thereby there is no network congestion while achieving energy efficiency, since less energy is required to handle a large volume of operations in less time.
This last is a counterweight to its Proof-of-Work consensus protocol or Proof of Work (PoW) which requires more electricity than the one used by Ethereum, for example, which is the Proof of Stake (PoS) consensus.
