When Was Litecoin (LTC) Created?

Given the popularity of Litecoin, the simple question of when was Litecoin created has emerged numerous times. So, in this article, we will discuss when and how Litecoin was created.

Charlie Lee invented Litecoin in October 2011.


Lee was a former Google employee who left his job to focus on Litecoin’s development. It is a fork of Bitcoin, although there are several differences. Lee sought to build a network comparable to Bitcoin’s but focused on quick payments.

A brief history of Litecoin

LTC is one of the first cryptocurrencies to emerge in the wake of crypto fever. Since its launch, it has constantly been among the top 10 holdings in terms of market capitalization. It most closely resembles Bitcoin in terms of market and coverage. Therefore, you can expect it to follow Bitcoin’s cycles. Litecoin ranks seventh on Coinmarketcap.

One of the original altcoins to enter the market, Litecoin has survived while many other altcoins from the years 2011 to 2013 are now extinct, Litecoin has endured largely thanks to relatively tiny but helpful and well-considered changes that kept it relevant and desirable to the market.

Initially, Litecoin gave the impression of being stand-alone money, not supporting the main currency. But then Charlie Lee quit Google and focused exclusively on the development of Litecoin. Along with Lee, a few additional developers were also part of the team working on the creation and release of this coin.

Charlie Lee’s main aim was to provide a quicker and more affordable alternative to Bitcoin. By 2013, Litecoin had a great active community and had gained popularity in the cryptocurrency industry. This was largely thanks to having a now well-known founder and clever marketing. Lee temporarily got a job at Coinbase in July 2013, which undoubtedly increased Litecoin’s notoriety. However, the cost of LTC began to soar as 2013 drew to a close.

It took a few years, but in May 2017, Coinbase included Litecoin. This resulted in a soaring price rise that saw Litecoin rocket to an all-time high. Due to its similarities with Bitcoin, Litecoin was frequently seen as a test network. For example, some programmers who wished to add new features to Bitcoin originally added them to Litecoin. This is a routine that is still in use today by many programmers.


Lee’s aim for Litecoin was to create a cryptocurrency that was more practical for daily use and usable for less expensive transactions. So, there are a plethora of important technologies that keep it working properly. Some of these are briefly discussed below.


Litecoin uses open-source, cryptographic technology, to create and transfer digital coins. It keeps a decentralized, public ledger of all transactions using blockchain technology.

Blockchain is basically a shared digital ledger. It essentially contains a record of every Litecoin transaction. Miners compile recent cryptocurrency transactions into blocks. Before linking the blocks to the current blockchain, they first go through a cryptographic safeguarding process.


Each block on the current blockchain goes through the mining process. This process basically secures the block. Miners use a variety of mining software. Validating blockchain transactions, then closing the current block and starting a new one, is the process involved in Litecoin mining.

The issue of new units takes place after securing a block. These units can be immediately injected back into the market by miners. Litecoin has a block generation speed that is four times faster than Bitcoin. It takes only 2.5 minutes per block as opposed to 10 minutes for Bitcoin. You can find a number of Litecoin mining platforms online that will really help you if you want to mine Litecoins.

Scrypt PoW

Litecoin uses the proof-of-work (PoW) technique to protect its networks. In essence, PoW requires that one party demonstrates to the other network participants that the necessary amount of computational effort has been made.

Scrypt PoW is a less resource-demanding algorithm. It is a key derivation function that uses passwords. Lee created Scrypt primarily to make sophisticated hardware attacks on the money more challenging. Furthermore, Scrypt hinders parallel processing because it requires a lot of random access memory (RAM).

Litecoin creation — summary

Litecoin, a fork of Bitcoin, was invented in 2011 and first launched online in April 2013. Its launch price was $4.30 or 0.031 BTC. The price of Litecoin has enjoyed a roller coaster ride, reaching early highs of $44 in early 2014, before dropping back to previous levels.

Since then, this crypto has weathered many storms and its value has continued a steady rise. Offering cheaper, faster transactions than Bitcoin, LTC looks set to stay.