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Litecoin (LTC)

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 26 Apr 2023

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Litecoin (LTC)

Litecoin (LTC) is a cryptocurrency created in 2011 by Charlie Lee, a former Google employee. It is a decentralized, open-source payment network that is not controlled by any central authority. It is a peer-to-peer network that allows users to send and receive payments without the need for a third-party intermediary. Litecoin is based on the same technology as Bitcoin, but it has a faster block generation rate and a larger total supply. It also has a different hashing algorithm, which makes it more resistant to ASIC mining.

History of Litecoin

Litecoin was created in 2011 by Charlie Lee, a former Google employee. It was created as an alternative to Bitcoin, with the goal of providing faster transaction times and lower fees. Since its launch, Litecoin has become one of the most popular cryptocurrencies in the world. It is currently the sixth-largest cryptocurrency by market capitalization.

Comparison Table

Cryptocurrency Block Time Total Supply Hashing Algorithm
Bitcoin 10 minutes 21 million SHA-256
Litecoin 2.5 minutes 84 million Scrypt

Summary

Litecoin is a cryptocurrency created in 2011 by Charlie Lee, a former Google employee. It is a decentralized, open-source payment network that is not controlled by any central authority. It is based on the same technology as Bitcoin, but it has a faster block generation rate and a larger total supply. It also has a different hashing algorithm, which makes it more resistant to ASIC mining. For more information about Litecoin, you can visit the official website at https://litecoin.org/.

See Also

  • Bitcoin
  • Cryptocurrency
  • Blockchain
  • Mining
  • Ethereum
  • Ripple
  • Dogecoin
  • Monero
  • Dash
  • Zcash

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