What is: Litecoin

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.

Quick facts:
Company name:  Litecoin is not an actual company
Year founded: 2011
Founders: Charlie Lee
Website: https://litecoin.org/
Technology: – Blockchain
Use: – Payments
Target audience: – Consumers
– Retailers
Coin Name: Litecoin
Ticker symbol: LTC
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)
Minable: Yes
Category: Token (Voucher)
Crypto Currency Price24H % Change Supply Volume Market Cap
59.50M LTC

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