Hede.io Entry: Litecoin

Litecoin (LTC) is a cryptocurrency and was a fork of the Bitcoin Core client. According to Wikipedia the litecoin network went live on October 13, 2011 which makes litecoin one of the early altcoins to spin-off from bitcoin.

Litecoins are created and transferred using a mining network and is not managed by any central authority. Litecoin mining uses a different algorithm than bitcoin and has a block generation time of two and a half minutes. The total supply limit for litecoin is 84 million.

Litecoin was released via an open source client by Charlie Lee, a Google employee. The official website for litecoin is litecoin.org.

Photo Source: coinmarketcap.org


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