Litecoin
by Litecoin
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Litecoin is designed to improve upon some of Bitcoin's limitations. It's based on the Bitcoin protocol, but has faster transaction times, lower fees, and requires less computational power. This makes it a better alternative for everyday use.
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Company Details
- Litecoin
- Founded 2011
- A Faster and Cheaper Bitcoin
Token Stats
About Litecoin
Litecoin is a crytptocurrency that was created to serve as the “silver” to bitcoin’s "gold." It is based on the core Bitcoin protocol, but was designed with several key features that provide it with advantages over Bitcoin.
Litecoin has significantly reduced transaction times by limiting the target block processing time to 2.5 minutes. It also has a total coin supply that is 4 times larger, and utilizes a different hashing algorithm called Scrypt, that requires a smaller workload and less computation power than Bitcoin's SHA-256 algorithm. This enables much faster transactions at a much lower cost to users. These features make Litecoin easier to use and to mine. Since its creation, Litecoin has gained a large market cap and widespread adoption among cryptocurrency users in need of a coin for everyday transactions.
