LiteCoin is aimed to be a true alternative to the BitCoin. Litecoin was initially released via Github in 2011, which makes it one of the oldest ALT Coins available in Crypto Markets.
Litecoin and Bitcoin are almost similar and they both have very slight differences:
- Proof of Work(PoW) Algorithm is different for these. In BTC, SHA 256 Algorithm is used, whereas in Litecoin, a memory-hard function named "Scrypt" is used as validation for Proof of Work.
- Litecoin transactions are processed much faster than Bitcoin. It takes around 2 minutes & 30 seconds for generating a new block for Litecoin. In the case of BTC, the average time required to add a new block into the Blockchain is around 10 Minutes.
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Ticker Symbol for Lite Coin is LTC in Crypto Trading Markets.
LTC enjoyed its all time peak price during the period December-2017 to January-2018. Looking at the current trend, in the coming months it might reach a new all time high (not an advice, just an estimated forecast).
Here is a Live Chart of Trading rates for Buying and Selling LTC:
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