#LitecoinETF

What is Litecoin (LTC)

How does it work?

Cryptocurrencies

Litecoin is one of the first blockchains to be created; it was originally intended to be faster and more efficient than Bitcoin. Learn about Litecoin and what makes it different from other cryptocurrencies.

In the ever-changing world of cryptocurrencies, understanding the nuances of prominent digital assets is crucial. In this article, you’ll learn about Litecoin, one of the first cryptocurrencies to be created, the underlying technology behind it, and the unique features it offers.

How does Litecoin (LTC) work?

Litecoin (LTC) was created with the goal of being an alternative to Bitcoin, aiming to address some of Bitcoin’s weaknesses. Litecoin runs on a decentralized blockchain, allowing for secure and transparent transactions. The two currencies share several key characteristics, including limited supply, decentralized nature, and the use of cryptographic techniques. What sets Litecoin apart is its use of the Scrypt hashing algorithm, unlike Bitcoin’s SHA-256 algorithm. Scrypt is designed to prevent massive, resource-intensive mining operations, making Litecoin accessible to individual miners, which has helped create a more decentralized network.