What You Need to Know About Litecoin LTC#GENIUSActPass

How Does Litecoin Work?

Litecoin is an online network that people can use to send payments from one person to another. Litecoin is a peer-to-peer (P2P) system and it is decentralized, which means it is not controlled by any entity or government. The payment system does not deal with physical currencies (paper or coin), such as dollars or euros, but instead uses its own unit of account, which is also called Litecoin (symbol: Ł or LTC). This is why you will often see Litecoin classified as a virtual currency or digital currency. Litecoin can be bought and sold for traditional cash in a variety of exchanges available online.

Where Did Litecoin Come From?

The supply growth of Litecoin is decentralized and is guided by the Litecoin protocol, which assigns the creation of new digital coins to Litecoin participants. The maximum number of Litecoins is capped at 84 million in total, but not all digital coins of Litecoin have been created yet; there are approximately 69 million Litecoins in circulation, which means there are less than 15 million Litecoins left to mine.

Of course, there is a lot of information about the currency, but it is a very strong project.