Litecoin is in principle an improved version of Bitcoin. They two were created with the purpose of serving as a platform on which instant transactions can be made to anywhere at an extremely low transaction fee.
The main areas where Litecoin differs from Bitcoin are:
– Lower block generation time; 2.5 minutes for Litecoin unlike 10 minutes for Bitcoin.
– A larger supply of coins, 84M for Litecoin vs Bitcoin’s 21M.
– Litecoin uses scrypt as its hash algorithm unlike Bitcoin which uses SHA-256.
|Company name:||Litecoin is not an actual company|
|Target audience:||– Consumers
|Total amount created:||84 million|
|Amount in circulation:||55.7 million as of March 2018|
|Market cap:||$8 billion as of March 2018|
|Consensus Protocol:||Proof-of-Work (PoW)|
|Crypto Currency||Price||24H % Change||Supply||Volume||Market Cap|