Since its launch by Charlie Lee in 2011, Litecoin (LTC) has proudly achieved 100% network uptime, a rarity in the volatile world of cryptocurrencies. The Litecoin Foundation affirmed this historic milestone, showcasing the network’s reliability and strength.
Litecoin’s design has been crucial to its success. Utilizing a proof-of-work (PoW) consensus with the Scrypt algorithm, the platform is both energy-efficient and accessible, encouraging broader participation among users and miners.
The network’s robustness was evident as its hashrate hit a record 2 PH/s, signaling strong security and community support. Meanwhile, statistics from IntoTheBlock reflect the growing popularity of Litecoin, with daily active addresses having increased significantly in the past year. Long-term holding patterns among users suggest confidence in the network’s future.
Despite the crypto market’s fluctuations, Litecoin maintains an impressive number of over 8 million addresses with a balance, indicating a solid user base. With 78% of Litecoin holders retaining their coins for more than a year, it’s clear that faith in the network’s long-term prospects is prevalent.
As Litecoin continues to handle nearly 200,000 daily transactions predominantly for payments, its unwavering operation since its inception stands as a testament to its durability and the trust of its community.
