Comment
Author: Admin | 2025-04-28
Litcoin Price (LTC) LTC to USD $126.52 Resources About Litcoin Litecoin was created as a fork of Bitcoin in October 2011 by Charlie Lee, a former Google software engineer. Like Bitcoin, Litecoin operates on a decentralized blockchain to facilitate transactions across the globe. When Litecoin was first launched there were few competitors to Bitcoin. Bitcoin, at the time, was just starting to gain market traction, and other big blockchains today, like Ethereum, had not even been conceived yet. Litecoin took to the world as one of the first true “altcoins”. Lee’s vision for Litecoin was to build on the security of the Bitcoin blockchain, but at the same time make it possible to conduct faster and cheaper digital transactions. The goal was to be a lightweight version of Bitcoin which would make blockchain technology more accessible for things like digital payments. The Litcoin Network Litecoin is a peer-to-peer, open-source, decentralized cryptocurrency. Litecoin miners verify the transactions on its blockchain, secure the network, and avoid duplicate transactions. To verify transactions, miners use a proof-of-work (PoW) algorithm to record all the blockchain’s data, known as “blocks.” As they add new blocks to the chain, miners receive a block reward of Litecoin. Litecoin differs from Bitcoin in three primary ways. It has a supply cap of 84 million coins, four times the amount of Bitcoin, and it has a block time of just 2.5 minutes, compared to Bitcoin’s 10 minute block time. It also uses an alternate hash function, known as Script. Litcoin Community and Culture The Litecoin Foundation is steadily working globally to incorporate litecoin into digital payments infrastructure. The foundation uses partnerships and education to help increase the visibility and adoption of litecoin around the world. It is often said that if Bitcoin is digital gold, then Litecoin is digital silver.
Add Comment