One of the major Bitcoin competitors, Litecoin is a peer-to-peer digital currency that offers faster transaction confirmations, averaging at about 2.5 minutes. It can accommodate 84 million coins, which is 4 times the number of currency units offered by Bitcoin.
The number of coins awarded to miners per block is set to 25 Litecoins for 2017 and will be halved every 4 years or 840,000 blocks. What also sets Litecoin apart from Bitcoin is the fact that it uses the scrypt-based mining proof-of-work algorithm. Thanks to an excellent team of developers, Litecoin is quickly progressing. It was the first among Market Cap Top 5 cryptocurrencies to implement SegWit scaling solution.
Litecoin Exchange Rates
Litecoin’s steady growth and surprising ability to challenge the once so strong dominance of Bitcoin have made it one of the most popular cryptocurrencies on the market. If you want to keep track of this coin’s progress, improve your understanding of the currency, and expand your knowledge on the past, present, and future of Litecoin, you can find a variety of excellent sources of information in our additional Litecoin resources.