Let’s learn a little bit about the three Litecoin features. If you didn’t know already, Litecoin is an open-source platform with binaries and source codes that can be independently verified.
Blockchain
The first Litecoin feature is the blockchain, which is programmed to handle many transactions without difficulty. The network works on high volume and does not require a software update because it operates under frequent block generation, lightning, and segregated witness (SegWit). All these aspects make Litecoin an efficient and fast network attracting merchants seeking quick confirmation times and, therefore, lower fees.
Mining
The second feature of Litecoin is Mining. Litecoin works under an algorithm called Scrypt. This algorithm gives way to a high degree of processing. It is usually more accessible for beginner miners than any other algorithm. Scrypt enables Litecoin mining without the ASIC-based mining hardware required to mine coins using the SHA-256 algorithm. At the moment, miners receive 25 new Litecoins per block. The coins are split in half every four years or every 84,000 blocks. The Litecoin network, which produces 84 million Litecoin, is four times more than Bitcoins’ maximum supply.
Industry Integration
The last Litecoin feature is Industry Integration. As we know, Litecoin came about as a fork from the Bitcoin network. Therefore, they have a lot of similarities. As a result, Litecoin is one of the most well-integrated cryptocurrencies in the market, with widespread support across the board. Exchanges, ATMs, online and offline retailers, web casinos, and developers support Litecoin. A dedicated and enthusiastic community also supports it.
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