The project was born on October 7, 2011. Creates by Charles Lee, a former Google employee. The Cryptocurrency is distributed via an open source client on GitHub.
Does it take inspiration from Bitcoin?
In fact, it was created to bring improvements to Bitcoin itself, to the point that it is called the successor of the undisputed Cryptocurrency queen.
Is it based on a P2P (peer-to-peer) which is based on an open source system and therefore is not under the control of a central authority.
Despite its great potential, LITECOIN has lost a lot of ground due to the growth of ETHEREUM.
LITECOIN, like most cryptocurrencies, also comes to life through mining. One thing that Litecoin has in common with Bitcoin is the number of currency in circulation that was established at the time of its creation. 84 million is the limit imposed (remember that for Bitcoin the limit is 21 million).
Differences between Litecoin and Bitcoin
According to its creator, Charles Lee through Litecoin you can reach a greater number of virtual wallets, as the limit is higher (84 million). Another difference that we can highlight is the algorithm used, as it uses a SCRYPT, or a sequential memory-hard function that requires more memory.
Where to buy it
Of course, the cryptocurrency must be purchased on an Exchange if you want to keep it in your wallet. Just send it from the exchange to your wallet for a small fee
You can buy it on Kraken, coinbase, crypto.com and other exchanges.