Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Just like Bitcoin. Litecoin is an open source, it is a network for global payment without a center authority. It is completely free from government and central banks control.
Litecoin is a cryptocurrency that Mathematically secure its own network and enpowers individuals to have absolut control over their own finaces. It features a transaction that is fast in confirmation, and has an efficient improved storage. After Bitcoin, Litecoin follows with a voluminious industry support.
FEATURES OF LITECOIN
1. Community Support:
To have more insights about this cryptocurrency, you will have to join and find support from a fast growing number of Litecoin communities. To do this you will have to search for users on Reddit and Twitter.
2. About The Resources:
You can get general information including a list of services and exchanges that supports this cryptocurrency at the Litecoin Wiki. The updated statistics of this cryptocurrency can be found on its explorer charts.
3. Its an Open Source Software:
It’s free from government policies and control, therefore making it an open source software. The software project is released under the MIT/X11 license which enables it to gives you the power to modify, run, and copy the software and to even distribute it.
You can distribute the modified copies to friends or other fellow users of your choice. The software is ussually released in an open process so that it can enable independent verification of number systems and their corresponding source code.
4. Provision of Blockchain:
Just like a food chain, where higher animals feeds on lower ones. The blockchain provides a handler of transactions like its big brother Bitcoin. Because of often block generation, the network is built in a way that it supports lots of transactions without the compulsory need of software modification. This resulted in fast confirmation of merchants ticket, they don’t have to wait too long for confirmation.
5. Wallet Encryption:
Wallet encryption helps to conceal and secure your wallet. It does this via codification, in other to give you security against scammers. There-by giving you absolute control over your account balance just like the normal banking system.
6. Mining Rewards:
Just like Bitcoins, this cryptocurrency has a mining feature, that allows you to mine for coins. It’s like a puzzle where miners are awarded with 25 new litecoins per block, it’s not a fixed amount, because it is always reduced into half every 4 years.
It’s quit important I conclude with bringing to your notice that some Bitcoin deposits are not yet available for Bitcoin, For some transactions, you will have to purchase Bitcoins before transfering them in Litcoins, though it’s optional. For more information go to www.litecoins.com