Litecoin is a cryptocurrency that was created in 2011 as a fork of the Bitcoin protocol. It was created by Charlie Lee, a former Google engineer. Litecoin is the second-largest cryptocurrency by market capitalization, after Bitcoin.
The main difference between Litecoin and Bitcoin is the speed of transaction confirmation. Litecoin has a faster block time than Bitcoin, which means that transactions are confirmed faster. This makes Litecoin more suitable for everyday use for smaller transactions.
The Litecoin blockchain is based on the same principles as Bitcoin, but it has some important differences. It uses a different hashing algorithm called Scrypt, which is designed to be more memory-intensive than Bitcoin’s SHA-256 algorithm. This makes it more difficult to create hardware that can mine Litecoin.
Litecoin also has a larger total supply of coins than Bitcoin, which means that there are more coins in circulation. This makes it easier to purchase and trade, and it also makes it more resistant to price manipulation.
Founder: Charlie Lee
Launched On: 2011-10-10
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