WHAT IS LITECOIN?
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.
Litecoin vs Bitcoin
Litecoin differs from Bitcoin in three ways.
The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin’s 10 minutes. Litecoin, therefore, allows for faster transaction confirmation.
Litecoin uses Scrypt in its proof-of-work algorithm. That is a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.
The Litecoin Network will produce 84 million Litecoins That is four times as many currency units as will be issued by the Bitcoin Network.
Where can I discuss Litecoin?
The Litecoin community is extremely kind and robust. There are many forums and places where you can discuss Litecoin with others who are interested in the currency. Here are the main ones:
| Litecoin Markets Subreddit |
| Discord |
| Official Forum |
| IRC |
While the adults are all fighting over whether crypto will be real or not, the kids are quietly building the future.
Don’t listen to the noise. Watch the talent.
For people outside my network that want to get in touch with me, I can now be reached at https://t.co/NKXiLNKt4l
How are Litecoins created?
Miners are currently awarded with 25 new litecoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks).
The Litecoin network is therefore scheduled to produce 84 million litecoins, which is 4 times as many currency units as Bitcoin.
Resources
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.
Where can I spend Litecoin?
Litecoin is in the top ten of all cryptocurrencies by market capitalization. Websites are rapidly adopting Litecoin as a method of payment as well. If you yourself want to accept LTC as a business, you can refer to these merchant manuals. Alternatively, if you would like to explore websites that accept Litecoin, head over to /r/AcceptingLTC.
Here are also several of our favorite merchants accepting Litecoin.
Find support across a growing number of Litecoin communities:
- Litecoin Forums
- Litecoin Telegram
- Reddit Litecoin
- Search for Users on Twitter
- IRC FreeNode network channels #litecoin (for general users) and #litecoin-dev (for developers).
Ethereum Blog blog.ethereum.org
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