What is Litecoin

Litecoin — The Twisted, and Better Version of Bitcoin

Frequently alluded to as the younger sibling of bitcoin, litecoin is a shared digital currency that has picked up genuinely broad selection since its initiation in 2011. A type of computerized cash that uses a blockchain to effortlessly keep up an open record of all exchanges, litecoin is utilized to exchange finances straightforwardly between people or organizations without the requirement for a mediator, for example, a bank or installment handling administration.

What Makes Litecoin Different?

Three things make Litecoin unique:

  • Speed
  • Number of Coins
  • Market Cap

Speed

Litecoin depends on a similar open source code behind bitcoin, with some striking contrasts. Made by Charlie Lee to be the silver to bitcoin’s gold, one of the primary abberations between the two digital forms of money lies in their exchange speeds.

Since it produces blocks around four times speedier than bitcoin, litecoin can affirm the authenticity of exchanges a considerable measure snappier and also process a significantly higher number of them over a similar time period.

Number of Coins

One reason some digital forms of money hold characteristic esteem is a direct result of their constrained supply. Once a specific number of bitcoin (btc) or litecoin (ltc) are made, that is it. There can be not any more new coins by then.

While bitcoin has an utmost of 21 million coins, litecoin will maximize at the 84 million stamp.

Market Cap

Despite the fact that its market cap could not hope to compare to bitcoin, litecoin still positions among the best 5 digital forms of money at the season of production.

 

Close