LiteCoin

Crypto Currency LiteCoin

When Bitcoin got a lot of successfully in the digital world the other people and developers try to present new digital coins and now we want to introduce Litecoin.

In the history some company try to create their own digital currency but they did not successful because all of them has one problem and it was clients money under their control but crypto currencies are decentralize no  central servers involved and no central controlling authority or company or government this system is the people system.

The other problem on classic currencies is verification the clients it’s good for fraud problems, but all peoples are not thief! Many people don’t like long verifications process to open a simple account or send or receive money from the other people in digital currency you don’t need any verifications to open your wallet all you need is a simple email address some digital currencies are easier all you need is download their application and install it on your mobile phone or desktop.

To send money from one country to other country you don’t need verify anything send money is very easy and simple buy just a few click.

Safety and prevent fraud is very important in crypto currencies and double-spending will control by blockchain technology (to learn more about blockchain technology click here) (لینک مقاله قبلی رو بگذار)

 Spending the same amount twice means double-spending and this is a fraudulent technique. The classic solution was a trusted third party company like banks. Third party Company kept records of the balances and transactions. This method was good but what will happen if Third Party Company try to scam their clients?! Third party companies has full control on your funds and they can misuse all your personal details too.

What is Litecoin?

Litecoin is the Bitcoin brothers. Litecoin was released on GitHub on October 7, 2011 by Charlie Lee. It was a fork of the Bitcoin Core client, Litecoin have different hashing algorithm it calls “Scrypt”. It can generate blocks four times faster than Bitcoin and litecoin maximum number is 84 million coins. Like the Bitcoin it is peer-to-peer Internet currency and its open source and fully decentralized. Litecoin symbol is LTC.

When litecoin released the litecoin price was 0.01$ and today 12 April 2018 the litecoin price is 113$ on December 2017 the litecoin price was 354$! It means after about 6 years it grows 3.5 Million percent!

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