You can learn about the prices of Litecoin in USD and TL with Cointral’s live price charts. To see the parity of 1 LTC against USD, Euro or other cryptocurrencies, check out Cointral Exchange providing high liquidity advantage from international exchanges. You can perform OTC, Exchange transactions and Litecoin trading transactions with cash at our Cointral branches.
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What is Litecoin?
Litecoin (LTC) is a cryptocurrency seen as the “Silver” of the cryptocurrency universe. Litecoin and Bitcoin are similar cryptocurrencies. Litecoin differs from Bitcoin in that it aims to complete the shortcomings in the Bitcoin network.
If you want to see more content about Litecoin and on how to buy Litecoin, visit our blog. You can see how to buy Litecoin with Cointral with this visual guide “Litecoin“.
Litecoin Mining Awards
Litecoin miners are rewarded with 25 LTC per block. This number, like in Bitcoin Halving, is reduced by 50% every 4 years. Litecoin is designed to produce a total of 84 million LTC (Litecoin). This number is 4 times more than Bitcoin.
Differences Between Litecoin and Bitcoin
There are differences between Litecoin and Bitcoin in terms of transaction speed. While the block processing speed in the Bitcoin network is 10 minutes, it takes 2.5 minutes in the LTC network. Due to this time difference, Litecoin has a much faster transaction confirmation feature than Bitcoin. Litecoin prefers the Scrypt algorithm instead of SHA-256 in the “Proof of Work” algorithm.
The reason why Litecoin uses the Scrpyt algorithm is because the ASIC and FPGA devices created for mining operations are used in Bitcoin and designing to SHA-256 will be quite costly.