10 Fun Litecoin Facts
By Beluga Research July 24, 2023
- The Litecoin network has been live for twelve years
- In that time, the cryptocurrency has been involved with some key sponsorships, including with the NFL and MMA
- Over $1.2 trillion in transactions has been processed via the Litecoin network
- Litecoin has been a key testing ground for the Lightning Network, which facilitates fast crypto transactions
Here are 10 interesting facts about Litecoin that you may not know:
#1 Always Up
Litecoin has had 100% uptime from creation to now - just under twevle years. No other major blockchain can say this, including Bitcoin.
#2 NFL and UFC Sponsorships
Litecoin was the first cryptocurrency to have a partnership/sponsorship with both an NFL team (Miami Dolphins) and the UFC (UFC 232).
#3 Confidential Transactions
Initiated MWEB (Mimblewimble Extension Blocks) in 2022, providing optional confidential transactions and storage of Litecoin.
#4 Best BitPay Option
Litecoin passed bitcoin as the most used payment method on Bitpay, the world's leading crypto payments processing platform, in June of 2023.
#5 Lightning Network Trailblazer
Litecoin was the first blockchain to integrate and use Segwit (Segregated Witness), a precursor to using the lightning network
#6 Big Investors
Many famous individuals have invested in litecoin over the years. These include such names as Anthony Mackie (Twisted Metal, Captain America), future NFL Hall of Famer Cam Jordan (New Orleans Saints), Gene Simmons (KISS), Ben Askren (MMA), Cris Cyborg (MMA), Landon Cassill (NASCAR) and Danielle Moinet (former WWE Superstar).
#7 Over One Trillion Served
Litecoin has processed over $1.2 trillion in transactions over its twelve year history.
#8 PayPal Friendly
One of only 4 major cryptocurrencies available on PayPal and Venmo.
#9 The First Lightning Transaction
The first lightning network transaction was done on Litecoin, when Strike co-founder Jack Mallers sent Charlie Lee 0.1 LTC.
#10 A Dip of the Doge
Litecoin, the dominant cryptocurrency mined on the Scrypt hashing algorithm, is merge mined with dogecoin, allowing miners to receive both cryptocurrencies as a mining reward
Ed. Note: These facts were provided to Beluga from Litecoin Marketing.