Last updated: October 27, 2017 edit

What is Litecoin?

Industry Decentralised payment network
Similar to Bitcoin

Litecoin was released in order to address several issues that founder Charlie Lee saw with Bitcoin’s potential to act as a mainstream currency. This included a shorter block time of 2.5 minutes (compared to Bitcoin’s 10 minutes) and a greater cap of 84 million coins. Lastly, Litecoin implemented the Scrypt hashing algorithm instead of SHA-256 to remove the advantage GPUs have in mining.

About LTC

Genesis Date 7 October 2011
Type Currency
Protocol Scrypt (PoW)
Available supply LTC
Total supply LTC

Purpose of the token

The LTC token serves as the native currency on the Litecoin blockchain network, this means that you transact with others using Litecoin when using the Litecoin network.

Latest Litecoin (LTC) News

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