A Simple Introduction to LiteCoin

What is LiteCoin (LTC)?

  • Purpose of LiteCoin is to be Sound Money which is to be used for every day transactions (e.g. Cash)
  • Bitcoin on the other hand is meant to be used as long-term store of value (e.g. Gold)
  • LiteCoin cuts down block time creation from 10 minutes (BTC) to 2.5 minutes
  • LiteCoin processes 54 transactions / second
  • Code is open source to allow other developers to modify or improve the code as long more than 50% of consensus is reached on the blockchain
  • First blockchain that uses the lightning network
  • Lightning network is a layer solution that makes transactions even faster and cheaper
  • Is a proof of work crypto currency

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Ricky Young

My belief is that financial freedom can only be achieved through a combination of smart investing and passive income. This is my journey to achieve financial freedom.

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