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Litecoin (LTC) is one of the oldest cryptocurrencies in the ecosystem without a doubt. Let’s have a closer look at Litecoin which was developed as an alternative to Bitcoin and now stays in the top 10 list.
How Does Litecoin Work?
Litecoin was founded by Charlie Lee in 2013. LTC, which was identified as “P2P internet currency” on its website, offers an instant and low-cost transaction opportunity for everyone. With no central official, it works in a completely decentralized way and has an open-sourced blockchain network.
Litecoin, which was seen as a “Bitcoin’s brother” by many, can be considered as digital silver too. Since many call digital gold to Bitcoin, the digital silver term probably came from this term. There is a statement about LTC’s transaction speed’s being faster than Bitcoin’s transaction speed in Litecoin’s official web site, too. Moreover, it is also stated that Litecoin is a subsidiary for Bitcoin with its community support, transaction volume, and liquidity. In short, it is pointed out that Bitcoin and Litecoin are no rivals.
Since Litecoin has faster block production speed, it can support more transactions without any software update. Litecoin has a block reward halving just like Bitcoin too and it reduces half of its block reward every 4 years or 840.000 blocks. One of the main differences of the Litecoin is the maximum of 84 million supply limits.
How & Where To Buy Litecoin?
Litecoin (LTC) is listed in many exchanges and you can buy it from Binance with high transaction volume.
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