What is Litecoin wiki?

Litecoin is another crypto digital currency which is based on the model proposed by the Bitcoin. It was invented in 2011 by a former MIT scholar and an engineer from Google Mr. Charlie Lee. Likewise every other cryptocurrency the underlying model of the blockchain which works as a base for the Litecoin is a public source coded worldwide network of payments which is not in the control of any of the central authorities. The main difference between the Bitcoin and Litecoin is that the Bitcoin’s block generation speed is much lower than the Litecoin’s block generation speed. Also, there is one more significant difference between Litecoin and Bitcoin which is the proof of work methodology of the Litecoin which is known as a SCRYPT.

Famous analogue of gold and silver was put to use to describe the phenomenon known as the Litecoin. Monetary pundits are of the view that while bitcoin could undoubtedly be considered as the gold of the world of cryptocurrencies. But silver is indeed Litecoin! This analogue he is totally apt if we see the current prices of both the cryptocurrencies. Bitcoin being the premium cryptocurrency is selling at a price of $ 17000 to $ 19000 during this period of the surge in the currencies. The main aim why the Litecoin was launched was to fulfill the deficiency where the Bitcoin lacks. It was often said by the investors that Bitcoin lacks fluidity. By its very nature of being the silver of the cryptocurrency world Litecoin has managed to be sufficiently fluid and transferable. This fluidity could also be reflected in the high trading volume which is sometimes not present in other cryptocurrencies. The coin limit which has been put on by the underlying algorithmic constraint over the Litecoin is 84 Million. That is to say; 4 times of the total Bitcoins which could ever be mined; is the total number of Litecoins which could ever be mined!

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