Litecoin: Learning the Basics

Litecoin, much like Litecoin is a digital money that cannot be felt, touched or minted. Litecoin is an internet cryptocurrency than runs on a peer-to-peer basis. This enables an instant payment available to anyone in the world. It is an open source platform that operates decentralized with no central authority governing it. This means that the currency is not by a financial institution and is not affected by monetary and financial policies. Created on October 7, 2011 by Charlie Lee, Litecoin was made to complement Litecoin, an existing and similar exchange software; considered the big brother to Litecoin. This was done to facilitate larger transactions in higher volume and in a faster time frame. There are faster transactions and confirmation times. It also offers improved storage efficiency which does better than other currencies.