litecoin logo download PNG or SVG

Information about litecoin

Litecoin is a decentralized digital currency that operates on a peer-to-peer network similar to Bitcoin. It was created in 2011 by Charlie Lee, a former Google engineer. Litecoin was designed to facilitate faster and more efficient transactions compared to Bitcoin, with a goal of processing blocks every 2.5 minutes as opposed to Bitcoin's 10-minute block time.

Litecoin utilizes a different hashing algorithm called "Scrypt" instead of Bitcoin's SHA-256, making it more accessible to casual miners. The total supply of Litecoin is capped at 84 million coins, four times that of Bitcoin's 21 million. This higher supply limit and faster block generation offer certain advantages like low transaction fees and quicker confirmation times.

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