Lightcoin (LTC)

1.

Lightcoin (LTC) is a cryptographic virtual (electronic) coin
based on Bitcoin software and similar principles (anonymity,
security, high transaction speed).
The system was developed by former Google
employee Charles Lee in 2011, and two years later
it was positioned as an alternative to the existing
Bitcoin.
The defining feature of the cryptocurrency is its open
source code, which allows anyone to change or copy the
software.
Litecoin's simplicity compared to Bitcoin
makes it well-suited for exchange trading

2.

How is litecoin different from
bitcoin?
Looking at the original purpose of bitcoin, we see
that in their purpose, lightcoin and bitcoin are
almost identical. However, there are some notable
differences in functionality. The litecoin blockchain
is capable of handling a larger volume of
transactions than the bitcoin blockchain. By
generating blocks more frequently, the network
supports more transactions without the need to
modify the software in the future. As a result,
payment confirmations are quickly received by
sellers, but sales of large amounts have to wait
longer for additional confirmations.

3.

LiteCoin's
advantages over
bitcoin.
• 1. Looking at the speed of transaction
confirmation, we can say that it is about 4
times faster in the LightCoin network
than in the Bitcoin network. Money sent
through LightCoin usually appears in your
wallet within a few minutes, whereas a
Bitcoin transaction can take 10-15
minutes.
• 2. LiteCoin transaction fees are much
lower. The larger the block, the more you
have to pay miners for transactions.
LightCoin has fewer blocks compared to
bitcoin, hence miners charge less
commission.
• 3. LightCoin has notable technical
improvements such as Segregated
Witness (SegWit) and Lightning Network.
• 4. LightCoin is better at handling high
transaction volumes, while bitcoin has
serious problems with that.