Litecoin (LTC)
A proof-of-work coin that runs Bitcoin-style rules with different settings. Here are those settings, read straight from Litecoin Core's source code.
On this page
- Litecoin's genesis block carries a timestamp of 7 October 2011 in Litecoin Core's chain parameters.[1]
- Litecoin targets a block every 2.5 minutes and mines with the scrypt hash function rather than Bitcoin's SHA-256.[4]
- The block subsidy starts at 50 LTC and halves every 840,000 blocks, adding up to just under 84 million LTC.[2]
- MWEB, proposed in 2019, lets users opt into transactions that hide amounts; ordinary transactions stay public.[7]
What is Litecoin and who created it?
Litecoin is a proof-of-work cryptocurrency, and LTC is its unit. Its reference software, Litecoin Core, sets the first (genesis) block's timestamp to 7 October 2011, and the genesis block embeds a newspaper headline dated 5 October 2011.[1]
Litecoin Core's block-reward function has the same shape as Bitcoin Core's: a 50-coin starting subsidy cut in half at a fixed block interval.[2][8] Its code comments even keep Bitcoin's wording, such as the 210,000-block interval and the 21 million BTC reference, even though Litecoin's own parameters differ.[2][3]
The primary sources we checked do not name a founder. Charlie Lee is listed, with Andrew Yang and David Burkett, as an author of the improvement proposals that added MWEB.[5] For the Bitcoin rules Litecoin adapts, see our Bitcoin profile.
How does Litecoin work?
Miners compete to produce blocks with a valid proof-of-work. Litecoin computes that proof with the scrypt function, called scrypt_1024_1_1_256 in the code, where Bitcoin uses SHA-256.[4][9] Read more on hash functions and proof-of-work vs proof-of-stake.
| Setting | Litecoin | Bitcoin |
|---|---|---|
| Target block time | 2.5 minutes | 10 minutes |
| Proof-of-work hash | scrypt | SHA-256 |
| Halving interval | 840,000 blocks | 210,000 blocks |
| Starting subsidy | 50 LTC | 50 BTC |
| Total from subsidies | just under 84 million | just under 21 million |
Litecoin's settings come from its chain parameters and subsidy code;[1][2] Bitcoin's from Bitcoin Core.[8] Litecoin re-targets difficulty over a 3.5-day window, which at 2.5 minutes a block is 2,016 blocks, the same block count Bitcoin uses over two weeks.[1]
How are new litecoins created?
New LTC enters circulation as a block subsidy paid to miners. The subsidy started at 50 LTC and halves every 840,000 blocks.[2][1] At the 2.5-minute target, 840,000 blocks take about 1,458 days, just under four years.[1]
| Subsidy era | Starts at block | LTC per block | Total issued by end of era |
|---|---|---|---|
| 1st | 0 | 50 | 42 million |
| 2nd | 840,000 | 25 | 63 million |
| 3rd | 1,680,000 | 12.5 | 73.5 million |
| 4th | 2,520,000 | 6.25 | 78.75 million |
| 5th | 3,360,000 | 3.125 | 81.375 million |
Totals are our calculation from the subsidy code; summed over every era they come to 83,999,999.9 LTC.[2] The 84 million figure in the code, MAX_MONEY, is a validity check, not a count of coins in existence.[3]
What is LTC used for?
LTC is the unit Litecoin transactions move and the unit the protocol pays to miners.[2] Two upgrades extended what those transactions can do:
- SegWit. Litecoin Core activates Segregated Witness rules from block 1,201,536.[1]
- MWEB (MimbleWimble Extension Blocks). LIP-2 and LIP-3, created on 20 October 2019, add an opt-in transaction format in extension blocks that hides amounts.[7] Coins move into the extension block with peg-in transactions and back out with peg-outs, and the change can be added as a soft fork: older software sees only the coins anchored on the main chain.[6] See forks for what a soft fork means.
What are the key dates in Litecoin's history?
Litecoin Core records its changes mostly by block height rather than calendar date. The dated events below come from its code and its proposals repository; the block-height milestones follow in the table.
| When | Event |
|---|---|
| 5 October 2011 | Date of the newspaper headline embedded in the genesis block[1] |
| 7 October 2011 | Genesis block timestamp (07:31:05 UTC)[1] |
| Block 840,000 | First halving: subsidy 50 → 25 LTC[2] |
| Block 1,201,536 | SegWit rules active[1] |
| 20 October 2019 | LIP-2 and LIP-3 (MWEB) created[7] |
| Block 2,217,600 | Start of the MWEB deployment window in the code[1] |
| Block 2,520,000 | Third halving: subsidy 12.5 → 6.25 LTC[2] |
As of October 2026, the LIP index lists the MWEB proposals as Final.[5]
What are the specific risks of holding litecoin?
- Proof-of-work security. Litecoin Core rejects blocks without a valid proof-of-work.[4] In the model the Bitcoin white paper sets out, such a chain stays secure only while honest participants control most of the computing power.[9]
- Privacy is partial. MWEB is opt-in; transactions on the main chain are not covered by its amount hiding.[7]
- Asset-specific risk. The SEC notes that crypto-assets vary widely and each presents different risks, so research LTC on its own terms.[10]
- Custody. Lost or hacked self-custody wallets can mean permanent loss; a custodian can be hacked or go bankrupt.[11] See seed phrases explained.
What mistakes do beginners make with litecoin?
- Reading the 84 million constant as an exact supply. The code calls
MAX_MONEYa sanity check; the subsidies add up to slightly less.[3] - Assuming every LTC transaction is private. Only transactions that opt into MWEB get its confidential amounts.[7]
- Treating halving dates as fixed. Halvings happen at block heights; the four-year spacing is only the 2.5-minute target at work.[1]
- Mixing up LTC and BTC addresses or networks. They are separate blockchains with separate rules; check the network before sending.
Questions readers ask
How many litecoins will there be?
Just under 84 million from block subsidies: 50 LTC per block, halving every 840,000 blocks.[2] The 84 million constant in the code is a validity limit, not a coin count.[3]
How is Litecoin different from Bitcoin?
It keeps the same subsidy structure but uses scrypt instead of SHA-256, a 2.5-minute instead of 10-minute block target, and a halving every 840,000 instead of 210,000 blocks.[1][8]
What is MWEB?
MimbleWimble Extension Blocks: an opt-in transaction format, proposed in LIP-3, that hides transaction amounts inside extension blocks linked to the main chain.[7]
Who created Litecoin?
The Litecoin Core code and proposals we checked do not name a founder. Charlie Lee is a listed co-author of the MWEB proposals.[5]
Litecoin runs Bitcoin's issuance pattern on a faster clock: 2.5-minute blocks, scrypt mining and halvings every 840,000 blocks toward just under 84 million LTC.[2] Its MWEB upgrade adds optional privacy rather than default privacy.[7] Judge it on those rules and on how you would store it, not on its age or name.
Sources
- Litecoin Core, Litecoin Core source: mainnet chain parameters (chainparams.cpp) (2026)Primary source
- Litecoin Core, Litecoin Core source: GetBlockSubsidy (validation.cpp) (2026)Primary source
- Litecoin Core, Litecoin Core source: amount.h (COIN, MAX_MONEY) (2026)Primary source
- Litecoin Core, Litecoin Core source: GetPoWHash (primitives/block.cpp) (2026)Primary source
- Litecoin Project, Litecoin Improvement Proposals (index) (2026)Primary source
- Litecoin Project, LIP-0002: Extension Blocks (Consensus layer) (2019)Primary source
- Litecoin Project, LIP-0003: MimbleWimble via Extension Blocks (Consensus layer) (2019)Primary source
- Bitcoin Core, Bitcoin Core source: GetBlockSubsidy (validation.cpp) and mainnet chain parameters (2026)Primary source
- Satoshi Nakamoto (bitcoin.org), Bitcoin: A Peer-to-Peer Electronic Cash System (2008)Primary source
- US Securities and Exchange Commission (Investor.gov), Crypto Assets (Investor.gov spotlight) (2025)Primary source
- US Securities and Exchange Commission (Investor.gov), Crypto Asset Custody Basics for Retail Investors (2025)Primary source
Educational content only — not financial, investment, legal or tax advice. Crypto-assets are high-risk and you could lose all the money you put in. Rules differ by country; check with your national regulator. See our risk disclosure and editorial policy.
Read next
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- Mining, Staking & Infrastructure · Beginner
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