Litecoin is a cryptocurrency that is very similar to Bitcoin; however, technically, there are a few differences. It aims to complete a processed block in around a quarter of the time of Bitcoin, for example. This means transactions should always be faster. It has been available since October 2011. It uses the code LTC when trading. As with many other virtual currencies, the currency is based on open source software. It also uses lites, photons, and litoshis as much smaller units of the currency itself.

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