What is Litecoin (LTC)?

Litecoin (LTC)

Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license.Creation and transfer of coins are based on an open source cryptographic protocol and is not managed by any central authority.The coin was inspired by, and in technical details is nearly identical to, Bitcoin (BTC).

The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes. The developers claim that this allows Litecoin to have faster transaction confirmation.Litecoin uses the script in its proof-of-work algorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard. Due to Litecoin's use of the script algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.



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How to buy sell Litecoin (LTC)

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