Litecoin | crypto currencies | Litecoin cryptocurrency explained | new cryptocurrency
As we discussed about the crypto currency in the recent post i.e., only about one type of crytocurrency BITCOIN... here the recent post link>>>> about Bitcoin in detail today in this post we see in detail about the currencies inspired by the BITCOIN collectively called the altcoins... LITECOIN Litecoin , launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin ’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer grade. Although Litecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation. Other than developers, there are a growing number of merchants who a...