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What is Litecoin $LTC
Litecoin is one of the first blockchains to be created; it was originally intended to be faster and more efficient than Bitcoin. Learn about Litecoin and what makes it different from other cryptocurrencies.
How does Litecoin (LTC) work?
Litecoin (LTC) was created with the goal of being an alternative to Bitcoin, aiming to address some of Bitcoin’s weaknesses. Litecoin operates on a decentralized blockchain, allowing for secure and transparent transactions. The two currencies share several key characteristics, including a limited supply, decentralized nature, and the use of cryptographic techniques.
What sets Litecoin apart is its use of the Scrypt hashing algorithm, as opposed to Bitcoin’s SHA-256 algorithm. Scrypt is designed to prevent massive, resource-intensive mining operations, making Litecoin accessible to individual miners, creating a more decentralized network.
As one of the first altcoins, Litecoin has made several improvements over Bitcoin. One of the main differences is the quantity of coins: while Bitcoin has a maximum supply of 21 million coins, Litecoin has a maximum supply of 84 million coins.
#CryptoReboundStrategy
Litecoin is one of the first blockchains to be created; it was originally intended to be faster and more efficient than Bitcoin. Learn about Litecoin and what makes it different from other cryptocurrencies.
How does Litecoin (LTC) work?
Litecoin (LTC) was created with the goal of being an alternative to Bitcoin, aiming to address some of Bitcoin’s weaknesses. Litecoin operates on a decentralized blockchain, allowing for secure and transparent transactions. The two currencies share several key characteristics, including a limited supply, decentralized nature, and the use of cryptographic techniques.
What sets Litecoin apart is its use of the Scrypt hashing algorithm, as opposed to Bitcoin’s SHA-256 algorithm. Scrypt is designed to prevent massive, resource-intensive mining operations, making Litecoin accessible to individual miners, creating a more decentralized network.
As one of the first altcoins, Litecoin has made several improvements over Bitcoin. One of the main differences is the quantity of coins: while Bitcoin has a maximum supply of 21 million coins, Litecoin has a maximum supply of 84 million coins.
#CryptoReboundStrategy
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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