What is: Litecoin

0
418
Litecoin (LTC) logo - grey and white

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
Headquarters: ?
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)
Name Price24H % Supply Volume Market Cap
eltcoin
Eltcoin
$0.000097
-12.89%
90.00M ELTCOIN
$938.11
$8,780.15

Recommended for you

What is: Blockchain

What is: Bitcoin

LEAVE A REPLY

Please enter your comment!
Please enter your name here