![]() The same is true if you make a Litecoin purchase on Gemini - Gemini will store your Litecoin within a Gemini Litecoin wallet. If you use a popular exchange such as Coinbase to purchase Litecoin, your Litecoin will be stored within your personal Coinbase Litecoin wallet. A Litecoin wallet may be set up privately - on a computer or smart device, or with special hardware - or within a cryptocurrency exchange. Litecoin is always held within a Litecoin wallet. *With the forthcoming Mimble Wimble Extension Block (MWEB) upgrade, Litecoin confidential transactions will be shielded from the public Litecoin ledger. Our favorites are Blockchair, Litecoin Block Explorer, Blockcypher and Litecoin Space. There are several Litecoin block explorers today, and these allow anyone to search all new and historical Litecoin transactions. Requests can be a transaction identification number (TXID) or a wallet address. Put simply, a block explorer is like an internet search engine - it lets anyone enter a request and search for results. This is where block explorers are of value. This means all activity on the Litecoin Network is open for full review. (Charlie Lee mined the genesis Litecoin block on October 8, 2011.) Litecoin's blockchain has been expanding every 2.5 minutes since October 13, 2011, when the network was opened. On the Litecoin Network, blocks are cleared every 2.5 minutes which means that new Litecoin transactions are clustered and cleared every two and a half minutes. A block consists of Litecoin transaction data. As its name suggests, a blockchain is a chain (or sequence) of blocks. ![]() Litecoin is a blockchain technology and the Litecoin Network is a blockchain network. ![]()
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