Evolution of Litecoin in the world of Cryptocurrency
Evolution of Litecoin in the world of Cryptocurrency In 2011, Litecoin was released. Litecoin is based on the same code as bitcoin, but with a few adjustments to solve two of its predecessor's limitations: transaction speed and access to the mining process. It was created by Charles Lee, a programmer who later helped construct Coinbase, the major cryptocurrency exchange. Litecoin is a cryptocurrency that is similar to bitcoin in that it is constructed on the same underlying code, but with a few differences. The main distinction is that Litecoin is mined using the Scrypt method, which is based on simpler mathematical computations than the SHA-256 algorithm used by bitcoin. As a result, you can mine Litecoin using a competent laptop or desktop PC, especially if it's equipped with a powerful graphics card, rather than the specialised, super-expensive, energy-intensive mining rigs required to mine bitcoin. Litecoin mining is also more faster than bitcoin mining because Scry...