Litecoin is a peer-to-peer cryptocurrency that was created as a "lighter" version of Bitcoin. Some of the key features of Litecoin include:
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Faster transaction times: Litecoin has faster block generation times of 2.5 minutes compared to Bitcoin's 10 minutes. This allows for quicker transaction confirmations.
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Scrypt hashing algorithm: Litecoin uses the Scrypt algorithm for mining, which is designed to be more memory-intensive and resistant to ASIC mining.
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Increased coin supply: Litecoin has a higher maximum coin supply of 84 million compared to Bitcoin's 21 million, which may result in lower transaction fees.
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Segregated Witness (SegWit): Litecoin was one of the first cryptocurrencies to implement SegWit, a protocol upgrade that increases block size limits and improves scalability.
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Active development and community: Litecoin has a dedicated development team and an active community of supporters, which helps maintain and improve the network over time.
Overall, Litecoin aims to provide a faster and more efficient alternative to Bitcoin while still maintaining the core principles of decentralization and security.
