What is LTC (Litecoin) ?
Litecoin (LTC) is a cryptocurrency created from a fork of the Bitcoin blockchain in 2011. It was initially designed to address the developer's concerns that Bitcoin was becoming too centrally controlled and to make it more difficult for large-scale mining firms to gain the upper hand in mining. While eventually unsuccessful in preventing enterprise miners from taking over the lion's share of Litecoin mining, the cryptocurrency has reworked itself into a minable coin and a peer-to-peer payment system.
Litecoin is a cryptocurrency founded in 2011, two years after Bitcoin, by a former Google engineer named Charlie Lee.
It shares similar features with Bitcoin but has a different algorithm. The cryptocurrency's goal is to become a medium for daily transactions.
Litecoin has a faster transaction processing time than Bitcoin.
Although it is a Bitcoin forkIn 2011, Bitcoin was becoming more popular with enterprise-sized miners because of its potential price appreciation. It appeared that businesses were going to take control of mining because it was quickly becoming computationally unfeasible for individuals to participate.
To some, this looming centralization went against one of the original concepts behind the cryptocurrency
Litecoin Toiday⬇️
85.70USD
−2.54 (2.88%)today
