Litecoin is a peer-to-peer cryptocurrency based on POW that is used for instant payments at very low costs. Litecoin was created from Bitcoin code base on October 7, 2011 by Charlie Lee, former google collaborator and engineering director of Coinbase. Indeed, Litecoin blockchain generates blocks more frequently with transaction confirmations sent 2.5 times faster. Litecoin therefore offers a more optimized system than Bitcoin and allows faster transactions on top of blockchain technology. On the litecoin blockchain, a transaction block is thus created every 2 and a half minutes, compared to ten minutes for bitcoin.

This data was last updated 2021-01-18 05:03:26 UTC