Litecoin Ultra (LTCU) is a decentralized, peer to peer cryptocurrency. The name of this crypto coin is so designed so that the user may use this digital coin for making a lighter way to send digital currency to her/his desired destination.
The project of Litecoin Ultra was launched by the developers on July 11th, in the year 2017. The first block for LTCU was mined on the same day. The blockchain of Litecoin Ultra is forked from blockchain of Bitcoin. This Litecoin Ultra was launched without providing an Initial Coin Offering or any high pre-mine. There was no pre-allocation of funds made during the launch of Litecoin Ultra. This includes a cent percent fair launch of this crypto coin.
Litecoin Ultra is also an open source project of software. This digital coin, Litecoin Ultra was released by a group of fans of Litecoin, a team of junior developers and some entrepreneurs.
Litecoin Ultra is a decentralized cryptocurrency and is not controlled by either any government, central organization or a central authority. The Litecoin Ultra coins are created and distributed through a cryptographic protocol which is open source in nature. Though Litecoin Ultra was created after being inspired by the concept of Litecoin, the developers of Litecoin Ultra made some distinct technical improvements in Litecoin Ultra over Litecoin. Litecoin Ultra was created differently from maximum other cryptocurrencies. Litecoin Ultra adopted Proof of Stake (PoS) and Proof of Work (PoW) random superblocks.
These technical improvements in Litecoin Ultra enabled the Litecoin Ultra network very to very efficiently process number of transactions within a stipulated period of time. This system helps in very effectively reduce bottlenecks, which is not found in other cryptocurrencies. Litecoin Ultra does not charge any fee for transactions or making payments. The payments by Litecoin Ultra is super-fast as the payment transactions are made at least four times faster than Bitcoin.
The ticker of Litecoin Ultra is LTCU. It uses Scrypt as its algorithm. The Proof of Work (PoW) is having a block time of 5 minutes. The blocks are retargeted at 2000 blocks. The confirmation of transactions is on every 5 blocks. The block reward is 100 coins of LTCU per block. The total supply of Litecoin Ultra coins is 150 million LTCU coins, with a pre-mine of 5%, that is 7.5 million coins. The rewards are halving at block no 400,000. The Proof of Stake is 10% which starts at block no 200,000 and the PoS reward is halving at block no 400,000.
Litecoin Ultra is a mineable coin which can be mined using specialized mining gear. This coin can also be purchased from the listed exchanges.
The potential of Litecoin Ultra as a light, fast and mineable coin, is good in time to come.
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