Litecoin (LTC)

Charlie Lee is the creator of Litecoin (LTC). Litecoin is a peer-to-peer cryptocurrency that enables instant payments to anyone in the world almost free. Litecoin is an open source, global payment network that is fully decentralized. That means no central authorities controls the network. Mathematical algorithms secure the network. That empowers individuals to control their own finances. Litecoin features faster transaction confirmation times than Bitcoin. Litecoin also has improved storage efficiency than Bitcoin. Litecoin (LTC) has a great support, volume and liquidity in the markets and is both a complementary and a competitor to Bitcoin


Litecoin vs Bitcoin

Litecoin differs from Bitcoin in three ways.

The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin’s 10 minutes. Litecoin, therefore, allows for faster transaction confirmation.

Litecoin uses Scrypt in its proof-of-work algorithm. That is a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.

The Litecoin Network will produce 84 million Litecoins That is four times as many currency units as will be issued by the Bitcoin Network.

Close Menu