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What is Litecoin API?

API stands for application programming interface. In general terms, the meaning of API is the set of rules upon which a third party application layer based protocol could be generated. For example, in the case of social media giant Facebook, the meaning of API would be those set of rules upon which a third party application of Facebook could be made and the functionality of Facebook could be retained. Therefore the meaning of Litecoin API would be a third party protocol based upon which the outward application could be made so that application such as wallets and mining apps could be made upon the underlying algorithm of the Litecoin. The Litecoin could easily be considered as the silver in the world of cryptocurrencies where the Bitcoin would be undoubtedly gold. There is a social difference between the Litecoin and the Bitcoin. The difference lies in the algorithm as well as the total capping has been placed by the algorithm of the total coins which could be produced ever. Litecoin started as a movement to improve upon the features of Bitcoin. It came to the advent as a practical implementation of the white paper put up by Mr. Satoshi Nakamoto which for the first time defined the concept of the blockchain. Litecoin implemented scrypt algorithm as an improvement over the Bitcoin which uses SHA256 algorithm for its mining. Also, the total number of coins which could be generated by the Litecoin algorithm is 84000 coins while by using the blockchain technology of the Bitcoin the total number of Bitcoins which could be ever generated is equal to 21 million coins. Therefore the API of the Litecoin can help to build third-party applications which would be hosted on varied platforms such as iOS and Android. This third party apps deploy the underlying system as described in the algorithm of a Litecoin and makeup apps such as wallets and mining software which act as a frontend for the processing which is going underground.

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