A cryptocurrency for payment
Litecoin was created in 2011 by a former Google employee named Charlie Lee. Like many blockchain lovers, Charlie believed that Bitcoin codes were flawed. The purpose of Litecoin was to be a lighter version of Bitcoin. Until now Litecoin has a very high speed and a lower price than Bitcoin.
Best Wallets for LitecoinsKeeping Litecoin in the following wallets, ensures your security.
Best Exchanges to Trade LitecoinBuy & sell Litecoin in the best online exchanges to stay safe and up to date.
Watch Litecoin Live Signals
Beeptory platform has launched litecoin live signals to improve the quality of the trades for traders and help them gain profit. Using signals would be the best way to stop the loss and control assets. Litecoin live signals are available on Beeptory social media. You can buy or sell signals using Beep tokens. There are free signals from experts available too.
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Know more about Litecoin
What is the Litecoin? Two years after the entrance of Bitcoin to the market, another currency was introduced that claimed to be a lighter version of Bitcoin. The Litecoin was created in 2011 by a former Google employee named Charlie Lee. Charlie believed that bitcoin codes had flaws. So by making changes in the code, Litecoin tried not to have bitcoin flaws.
The main goal of the litecoin is to become a global payment system. This means that people can send and receive money locally or internationally. They do not need an intermediary (such as a bank).
The Litecoin Features
The fee for Litecoin transactions is very low. Sometimes it costs nearly nothing!
Litecoin trading time is only 2.5 minutes. While the bitcoin transactions take at least 9 minutes. This difference is because of the time required to complete each block in the blockchain. Block completion speed in Litecoin blockchain is 4 times faster than Bitcoin blockchain.
Litecoin, like many other coins, is decentralized. So you have complete control over your assets.
How to extract Litecoin
Litecoin can be extracted like bitcoin. At first, due to the ease of mining litecoin, using a home CPU also worked. But over time and as the mine equations became more complex, the use of GPUs was replaced; because the power of graphic cards is more to mine litecoin. Litecoin uses the new Scrypt algorithm for mining, which replaces the old bitcoin SHA-256 algorithm. It has also increased the transaction speed.
Like the founders of bitcoin, the creators of litecoin have set boundaries for extracting this coin. Litecoin Company plans to mine the last litecoin in 2142. The maximum number of litecoins that can be extracted is 84 million. The number of extractable bitcoins is 21 million.
In the meantime, Litecoin also rewards mining devices for extraction. The first mining device to verify the block will be rewarded. The amount of the prize also changes over time. First, it was 25 litecoins, currently, it is 12.5 litecoins and is expected to decrease to 6.25 litecoins in 2023.