What is Litecoin Faucet?

In the terms of cryptocurrency mining faucet refers to the free availability of the cryptocurrency tokens from web portals. These web portals are known as faucet sites which provide cryptocurrency tokens as gifts in lieu of certain task to be performed such as sharing a particular article and liking a particular post over a social media account such as Facebook and Twitter. A great many web portals are dedicated for their promotions which award the user upon performing is certain stipulated task. The Litecoin cryptocurrency is particularly most popular cryptocurrency over such web portals to be provided as gifts from these faucet portals. Litecoin is particularly more important because the transaction time of Litecoin is favorably very lesser as compared to the premium cryptocurrency Bitcoin’s transaction time which amounts to 600 seconds or 10 minutes; to be precise. While in case of Litecoin the transaction time is lessened by 25 % of the transaction time in Bitcoin which is at 150 seconds that is just two and half minutes. This important feature of Litecoin having all the similarities of Bitcoin suggest the robustness of the blockchain plus the Litecoin size makes it ideal solution for faucet portals from which the Litecoin could be provided in in return of doing certain stipulated tasks. Such faucet websites are to be relied by reading the reviews of the users as there exist many portals with just hog your resources and give nothing in return of that. Litecoin is an improved version of the Bitcoin in regards of it having a lighter algorithm which makes it usable for less computing resource hardware. The mining algorithm which is deployed by the Litecoin is Scrypt while in case of Bitcoin the mining algorithm is SHA256. Hence, the mining apparatus needs to be modified to the needs of Scrypt algorithm which is the underlying blockchain of the Litecoin.

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