About Litecoin (LTC)
Litecoin, symbol LTC, is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory-intensive Scrypt proof of work mining algorithm, which allows consumer-grade hardware such as GPU to mine those coins.
Litecoin is a cryptocurrency that has evolved from Bitcoin but with some notable differences. One of the significant differences is the time it takes for Litecoin to generate a block or transaction, which is 2.5 minutes compared to Bitcoin's 10 minutes. This faster block time reduces the risk of double spending attacks when both networks have the same hashing power. Additionally, Litecoin's larger block size and more coins in circulation make it more affordable and swift when transacting compared to Bitcoin.
The transaction confirmation time for Litecoin is about 2.5 minutes on average, compared to Bitcoin's 10 minutes. The Litecoin network is scheduled to cap at 84 million currency units. Litecoin has inspired many other popular alternative currencies, such as Dogecoin, because of its Scrypt hashing algorithm that prevents ASIC miners from mining those coins. However, it is expected that Scrypt ASICs will enter the mass market by the end of this year.
Where to Buy Litecoin
Litecoin is listed on various cryptocurrency exchanges, including Azbit, CoinTR Pro, MEXC, DigiFinex, WhiteBIT, Coinbase Exchange, Binance, OKX, and more. These exchanges provide a platform for users to buy, sell, and trade Litecoin.
For More Information
Visit the official Litecoin website to learn more about Litecoin, its features, and the latest updates.