Litecoin Prices-
About Litecoin-
Litecoin describes itself as a peer-to-peer cryptocurrency that enables instant, near-zero cost payments to anyone in the world It is a fully decentralized, open source global payment network based on blockchain technology. Transaction times are often faster with litecoin transaction confirmations.
Litecoin boasts “substantial industry support, trade volume and liquidity” and touts itself as a proven medium of commerce comparable to bitcoin. Like bitcoin, litecoin is not issued or backed by any government. Litecoins are created by mining. Litecoin miners process a list of litecoin transactions, which authenticates the transactions and creates the currency. Unlike government issued currency, the supply of litecoin and similar cryptocurrency is fixed. Litecoin is capped at 84 million. One block is generated approximately every two and a half minutes, much shorter than the ten minute average for generating a bitcoin block. This block holds a list of recent litecoin transactions that have been verified through the mining process, and made visible to any miner who wants to see it. Once it has been verified, the block is attached to the chain, which, like bitcoin, holds a recored of every transaction ever made with the cryptocurrency.
One difference between bitcoin and litecoin is the mining process. Litecoin can be mined with a simple, high-quality desktop computer, whereas bitcoin requires much more processing power. Of course, the more processing power, the more profit, even for litecoin users. Litecoin is not the leading cryptocurrency right now, but as cryptocurrency becomes more universally accepted, is positioned to be in the top few.
If you would like to learn more about litecoin, check out the Litecoin website: https://litecoin.org/.