What is litecoin

What is Litecoin?

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Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities.

Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.

Find support across a growing number of Litecoin communities:. Find general information as well as a list of services and exchanges that support Litecoin at the Litecoin Wiki.

Up-to-date network statistics can be found at Litecoin Block Explorer Charts. Source code for Litecoin Core and related projects are available on GitHub. The software is released what is litecoin a transparent process that allows for independent verification of binaries and their corresponding source code.

The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future.

As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items. Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending litecoins.

This provides protection from wallet-stealing viruses and trojans what is litecoin well as a sanity check before sending payments.

Miners are what is litecoin awarded with 25 new litecoins per block, an amount which gets halved roughly every 4 years everyblocks. The Litecoin network is therefore scheduled to produce 84 million litecoins, which is 4 times as many currency units as Bitcoin. Community Find support across a growing number of Litecoin communities: Resources Find general information as well as a list of services and exchanges that support Litecoin at the Litecoin What is litecoin.

Blockchain The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin. Wallet Encryption Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending litecoins. Mining Reward Miners are what is litecoin awarded with 25 new litecoins per block, an amount which gets halved roughly every 4 years every what is litecoin, blocks.

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Litecoin was released via an open-source client on GitHub on October 7, by Charlie Lee, a former Google employee. In May , Litecoin became the first of the top 5 by market cap cryptocurrencies to adopt Segregated Witness. In February , the EU online retailer Alza.

From Wikipedia, the free encyclopedia. Litecoin Official Litecoin logo. Archived from the original on Retrieved 24 April Litecoin surpasses billion dollar market capitalization". Retrieved 12 May A guide to some other cryptocurrencies". A decentralized ledger of shared computational resources" PDF. These hash functions can be tuned to require rapid access a very large memory space, making them particularly hard to optimize to specialized massively parallel hardware.

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