What does Litecoin mean..a cryptocurrency in the footsteps of Bitcoin


Cryptocurrencies vary between the most famous and highest value Bitcoin to other currencies such as Litecoin, which has many advantages for the user over other similar currencies, but it still has a lot to become more reliable as well, and here we provide you with the details of this currency, according to the “Investopedia” website. .

Litecoin, launched in 2011, is among the first cryptocurrencies to follow in the footsteps of Bitcoin and is often referred to, created by Charlie Lee, an MIT graduate and former engineer at Google.

Litecoin is based on an open source global payment network that is not under the control of any central authority and uses “scrypt” as proof of work, which can be decrypted with the help of consumer-level CPUs.

Although Litecoin is similar to Bitcoin in many ways, it has a faster rate of block generation and thus provides a faster transaction confirmation time.

A large number of merchants accept Litecoin, and as of January 2021, Litecoin has a market capitalization of $10.1 billion and each token worth $153.88, making it the sixth largest cryptocurrency in the world.


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