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Litecoin is a cryptocurrency that was created in 2011 as a fork of Bitcoin. It is similar to Bitcoin in many ways, but there are also some key differences between the two cryptocurrencies.
Features of Litecoin
Some of the key features of Litecoin include:
Faster transaction times: Litecoin transactions are generally faster than Bitcoin transactions, due in part to the fact that the Litecoin network processes block more quickly than the Bitcoin network.
Different mining algorithm: Litecoin uses a different mining algorithm than Bitcoin, called Scrypt. This means that it is easier for people to mine Litecoin using consumer-grade hardware, like a personal computer or a graphics card.
Greater total supply: There is a greater total supply of Litecoin than there is of Bitcoin. While the total supply of Bitcoin is capped at 21 million coins, the total supply of Litecoin is capped at 84 million coins.
Different development team: Litecoin was created by a different team of developers than Bitcoin, and it has a different lead developer.
Overall, Litecoin is similar to Bitcoin in many ways, but it is designed to offer faster transaction times and to be more accessible to a wider range of people.