Litecoin Lite (in short: LTC, currency symbol: Ł) is a network currency based on "peer-to-peer" technology and an open source software project under the MIT/X11 license. It helps users pay instantly to anyone in the world. The Litecoin is inspired by Bitcoin (BTC) and technically has the same implementation principle. The creation and transfer of Litecoin is based on an open source encryption protocol that is not managed by any central authority. The Litecoin aims to improve Bitcoin, compared to the Litecoin, which has three significant differences. First, the Litecoin network can process one block every 2.5 minutes (rather than 10 minutes), thus providing faster transaction confirmation. Second, the Litecoin network is expected to produce 84 million Litecoins, which is four times the amount of money issued by the Bitcoin network. Third, Litecoin uses the scrypt encryption algorithm first proposed by Colin Percival in its workload proof algorithm, which makes it easier to drill Litecoin on a regular computer compared to Bitcoin. Each Litecoin is divided into 100,000,000 smaller units, defined by eight decimals. Design Purpose It is based on the Bitcoin protocol, but unlike Bitcoin, even at this stage, it is possible to “mining” efficiently through consumer-grade hardware. Litecoin provides you with faster transaction confirmation (average 2.5 minutes), which uses hard memory and a mining workload proofing algorithm based on scrypt (an encryption algorithm), which is used by most people for ordinary computers and graphics processors (GPUs). ). The Litecoin network is expected to produce 84 million currency units. One of Litecoin's design goals is to provide a mining algorithm that enables it to be run simultaneously on machines that mine Bitcoin. While the application of integrated circuits (ASICs) designed to tap bitcoin is on the rise, Litecoin is also following the evolution of technology. But before the Litecoin currency is widely used, it is unlikely that an application-specific integrated circuit (ASIC) designed specifically for Litecoin will appear.
Release time: 2011-11-09
Total supply: 62,780,443 LTC
Liquidity (LTC): 62,782,918
Official website: https://litecoin.com/
Block Browser: http://explorer.litecoin.net/chain/Litecoin
White paper: https://litecoin.com/