What is Litecoin ?
Litecoin has the goal of being the ‘silver’ to bitcoin’s ‘gold’ in the crypto-world.
Litecoin is a modified cryptocurrency of the open-source Bitcoin-blockchain, but with a few technological differences. The key differences between Bitcoin and Litecoin are the faster transaction-times and the larger transaction-volume (increased maximum number of coins) of Litecoin. The mining algorithm of Litecoin (the way new coins are generated) got also changed to ensure anyone could participate in the mining-network.
LTC was never intended to replace Bitcoin, but to complement it like the silver to Bitcoin’s gold.
History – Litecoin Info
Founded: 2011 by Charles Lee (former Google employee)
– October 13, 2011: LTC network went live
– November 2013: LTC reached $1 billion market capacity
– May 2017: LTC became the first of the top 5 cryptocurrencies to adopt “Segregated Witness“
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