Litecoin, the imitator of Bitcoin, rose by more than 121%, and Segregated Witness became the strongest "booster"

Bitcoin is the earliest and most popular virtual currency. Some merchants around the world can use Bitcoin for payment. Litecoin is the most formal and most supported virtual currency besides Bitcoin. Litecoin is a network currency based on "peer-to-peer" technology and an open source software project under the MIT/X11 license.

According to the market data of OKCoin, a well-known domestic Bitcoin trading platform, Litecoin has hardly experienced price fluctuations since February this year, and has been trading sideways near the $4 line for most of the time. Since March, Litecoin has shown a completely different trend from Bitcoin. Affected by the Bitcoin network fork, Bitcoin's trend has been sluggish and downward, from the highest price of 8,554 yuan to the lowest price of 6,151 yuan, a drop of 2,403 yuan. However, since March 30, when Litecoin ended its long sideways trading at a price of 27 yuan, it has started to rise all the way. According to the market data of OKCoin, the largest Bitcoin trading platform in China, Litecoin's highest price today is 63 yuan, with an increase of 121% in two weeks, taking off the hat of "sideways expert" in one fell swoop.

Litecoin was inspired by Bitcoin and has the same technical implementation principle. The creation and transfer of Litecoin is based on an open source encryption protocol and is not managed by any central authority. Litecoin aims to improve Bitcoin. Compared with it, Litecoin has three significant differences. First, the Litecoin network can process a block every 2.5 minutes (rather than 10 minutes), thus providing faster transaction confirmation. Second, the Litecoin network is expected to produce 84 million Litecoins, which is four times the amount of currency issued by the Bitcoin network. Third, Litecoin uses the scrypt encryption algorithm first proposed by Colin Percival in its workload proof algorithm, which makes it easier to mine Litecoin on ordinary computers than Bitcoin. Each Litecoin is divided into 100,000,000 smaller units, defined by eight decimal places.

Bitcoin is regarded as "digital gold", while the founder of Litecoin hopes that Litecoin will become "silver. Last week, the price of Litecoin almost doubled, creating a two-year high, and there was a lot of trading volume on most domestic trading platforms. Litecoin's price exceeded $8 in just 5 days. OKCoin's currency analyst said that the upcoming activation of segregated verification may be the biggest reason for Litecoin's recent price surge. On April 1, F2Pool, the largest mining pool in the Litecoin field, chose to support the activation of segregated verification. It is reported that as of now, the support rate of Litecoin's segregated witness has reached 70%, and the market value has increased by 140 million US dollars overnight.