It is a cryptocurrency value that is decentralized and traded on an open-source blockchain system. It achieved great success in its first period and gained an important place among other crypto money values.
Litecoin was developed in 2011 by a former Google employee, Charlie Lee. Although it basically has the same working principle as Bitcoin, there are some differences between them. It emerged in order to eliminate some errors in the Bitcoin system and has been successful in this area.
It is a cryptocurrency value that is decentralized and traded on an open-source blockchain system. It achieved great success in the first days of its existence and gained an important place among other crypto currency values.
Litecoin, which is the first altcoin, currently has a market value of over $ 1 billion. It has emerged with the aim of transferring money at very low costs. It offers more storage possibilities than other cryptocurrencies.
Unlike the Bitcoin blockchain, the Litecoin blockchain creates blocks faster. The blocking speed allows Litecoin to be faster in confirming transactions.
Although it uses the same system as other cryptocurrencies such as Bitcoin, Litecoin has some advantages compared to other cryptocurrencies. Litecoin, inspired by Bitcoin's open source software, uses a different algorithm.
Thanks to this algorithm, mining operations can be done more easily and by keeping system requirements to a minimum. This advantage in mining operations significantly reduces transaction confirmation times and greatly affects the delivery speed.
Litecoin mining is done with devices called ASICs, which are specially produced for mining operations, which are used in Bitcoin mining. You can also mine with the graphics card on your personal computers, but your profit rate will decrease significantly.
Litecoin mining is constantly getting harder due to the increase in the number of miners and the increase in processor capacity demand.
• While each block takes 10 minutes in Bitcoin transactions, it is 2.5 minutes in the Litecoin system. This difference significantly affects the transaction approval speed.
• Thanks to the algorithm used by the Litecoin system, continuous mining can be done with personal computers. In Bitcoin mining, mining cannot be done with your personal computers.
• While the total number of Bitcoins in circulation is limited to 21 million, this limit is 84 million in Litecoin.
In Turkey, buying Litecoin with Turkish Lira is a very easy and fast process, contrary to popular belief. You can buy Litecoin without the need for any technical knowledge. You can easily buy Litecoin in three steps from our Buy Litecoin page that we have prepared for you.
