What is Litecoin?
Litecoin is a Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that. 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.
Blockchain, Wallet Encryption, Mining Reward, Open Source Software
Since its inception, Litecoin has closely followed Bitcoin closely. Litecoin’s core protocol updates are mostly based on Bitcoin’s core protocol updates.
Why is Litecoin unique?
Behind Bitcoin, Litecoin is the second most popular pure cryptocurrency. This success can be largely attributed to its simplicity and clear utility benefits, its main benefit comes from its speed and cost-effectiveness. Litecoin transactions are typically confirmed in just minutes, and transaction fees are nearly negligible. This makes it an attractive alternative to Bitcoin in developing countries, where transaction fees may be the deciding factor on which cryptocurrency to support