What is Litecoin LTC? 101: Introduction
Litecoin is considered the digital silver to Bitcoin’s digital gold.
Litecoin was one of the first “altcoins” created by Charlie Lee from the original Bitcoin code, but with significantly different properties:
- Litecoin’s block time was reduced to 2.5 minutes, 4x faster than Bitcoin
- Total supply was increased to 64 million instead of Bitcoin’s 21 million.
- Mining difficultly changes ever 3.5 days compared to Bitcoin’s 2 weeks.
With these key differences in place, litecoin was the leader in fast payments and transactions in the early blockchain and cryptocurrency space.
Now, Litecoin is still a well known and respected altcoin in the space with a foundation, large developer following and constantly receiving community software updates.
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