Litecoin has become the second most popular digital currency after Bitcoin. From the technical standpoint, it’s the best copy of the initial cryptocurrency with minimal modifications. Developing Litecoin, Charley Lee pursued the objective of creating an alternative to silver in the digital money market in addition to Bitcoin, which is associated with gold.
With Litecoin, the issuance limit was increased to 84,000,000 units, and the mining speed was set at 25 coins per second. In addition to the apparent changes, there are some internal modifications. Thus, the calculation process has undergone an adjustment. In the Litecoin system, the owners of top-performance equipment are not guaranteed the largest profits; all users are actually equal in possibilities. Besides, transactions are completed four times as fast as with Bitcoins.