LITECOIN (LTC) how it works what it is

LITECOIN (LTC) how it works what it is

By Stat1c | NewCrypto news | 23 Apr 2020


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. 


Stat1c
Stat1c

Traveling prices, taxes, best places (countries) to visit. Happy situations. My opinion.


NewCrypto news
NewCrypto news

All the crypto news that i found. I will try to get on the publish0x blog to inform people about it.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.