Litecoin (LTC) is a cryptocurrency that was designed by Charlie Lee as an alternative to the original cryptocoin, Bitcoin. Litecoin’s value is also determined solely by the market, the coin has no central issuer or governance. Litecoin mining is performed via the scrypt algorithm instead of Bitcoin’s sha-256. As a “lighter version” of Bitcoin, Litecoin possesses a couple of advantages over its predecessor. Litecoin mining is easier on the gear, its transactions are faster and its block generation time is shorter.
The first significant growth in Litecoin’s price happened in the late autumn of 2013 when the Litecoin price increased two times in the course of one day. The Litecoin to USD ratio is currently one of the major indicators of the market. Litecoin news remains very important for the whole industry.