LTC - Silver to Bitcoin’s Gold
Block time： 2.5min
Public sale start date：2011/11/9
Reward halfing：4 years
What is LTC?
Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license.
By far the most fundamental technical difference between Bitcoin and Litecoin are the different cryptographic algorithms which they employ. Bitcoin makes use of the longstanding SHA-256 algorithm, whereas Litecoin makes use of a comparatively new algorithm known as Scrypt.
Litecoin aims to be a more advanced version of Bitcoin. It has 3 main advantages:
1. The equivalent figure for Litecoin is roughly 2.5 minutes, this difference in confirmation time could make Litecoin more attractive for merchants.
2. Litecoin can accommodate up to 84 million coins, 4 times of Bitcoin's.
3. Litecoin makes use of a comparatively new algorithm known as Scrypt, introduced by Colin Percival, which makes mining easily accessible.