What is litecoin?
Litecoin is a peer-to-peer internet currency that allows instant payments to be made at near-zero cost to anyone in the world. Litecoin is an open source and fully decentralized global payment network without any central authorities. Math secures the network and empowers individuals to take control of their finances. Litecoin features faster transaction confirmation times and improved storage efficiency compared to the leading math-based currency. With significant industry support, trade volume, and liquidity, Litecoin is a proven trading method complementary to Bitcoin.
- The Litecoin blockchain is able to handle a higher transaction volume than its counterpart - Bitcoin. As the frequency of block creation increases, the network supports more transactions without the need to modify the software in the future.
As a result, merchants get faster confirmation times, while still having the ability to wait for more confirmations when selling larger ticket items.
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