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What is Litecoin ?
Litecoin is a cryptocurrency that is nearly identical to Bitcoin with the exception of much lower transaction fees and up to 4x the transaction speed of Bitcoin.
How Litecoin works ?
How it is different from Bitcoin?
On the surface, Bitcoin and Litecoin share a lot in common. Litecoin uses Scrypt algorithm that is ASIC resistant. Apart from that the differences are as follows
Differentiators Bitcoin Litecoin
Blocks 10 mins per block 2.5 mins per block
Supply 21 million coins 84 million coins
Block Rewards Halved every 2,10,000 blocks Halved every 8,40,000 blocks
Creator Satoshi Nakamoto Charlie Lee
Date of Launch 3rd January, 2009 7th October, 2011