DiLitecoin (LTC) is a cryptocurrency based on the basic principles and software of Bitcoin. Often Litecoin is prophesied to be a digital surplus.
The main difference between LightCoin and Bitcoin:
Blocks are created much faster (2.5 minutes).
It uses a function (scrypt) for primary hashing during mining to form the key.
Litecoin was released in October 2011. The creator of Litecoin is former Google employee Charlie Lee. He took bitcoin's programming code as the basis, creating a cryptocurrency that takes 2.5 minutes to generate a block - four times faster than bitcoin. Litecoin addresses start with the letter "L" in connection with the version number, then generation occurs in the same way as bitcoin addresses.
The maximum number of coins is 84,000,000 LTC.
The Proof Of Work algorithm was used for this, as well as a cyclic hashing algorithm.
It is estimated that 3/4 of all coins will be mined in 2020.gital Silver-Litecoin