Tag: Litecoin (LTC)

Litecoin (LTC) is an open source peer-to-peer cryptocurrency. It is one of the oldest and most popular used digital tokens in the modern world. The coin is widely referred to as ‘Silver,’ bitcoin being Gold. The infrastructure on which this system is built is similar to that of Bitcoin.

Over the years, Litecoin (LTC) has risen to be the most commonly used coin after Bitcoin. As like BTC, LTC gets created by the process called mining. It facilitates quick transactions between one party and the other.

Initially, this coin was created to cover up the flaws of Bitcoin (which is its predecessor). Even though the technology associated with it is pretty similar to that of Bitcoin, it has more advanced and exciting features.

Litecoin uses scripts in its proof-of-work algorithm. It also processes a block after every 2.5 minutes compared to its predecessor’s 10 minutes. That all make the business fast and more affordable.

Litecoin (LTC) has the edge over most of the other cryptocurrencies because it’s easier to use and the transactions get done swiftly, too. Above all, it’s secure and has minimal transaction fees.