- What is Litecoin (LTC)?, it is an open source peer-to-peer internet currency that allows for instant, near-zero cost payments. Litecoin is basically just like bitcoin but only takes 2.5 minutes to confirm transactions not 10 minutes. Litecoin uses a different method of securing transactions that makes it better for GPU mining. This means that it is harder to hack than bitcoin in some ways. This gives a point of difference.
- LTC has examined and lived the Lightning Network transactions along with atomic swap into its own system. This itself is a remarkable revolution in the world of cryptocurrency. The Lightning Network is an off-chain L2 layer protocol via which the funds can be sent faster and at a lower fee with no wait for blockchain confirmation. As a result, this enhances the scalability to thousands and millions of transactions in a second, which is an appreciable element in the crypto market. In terms of the cross-chain atomic swap, this has been programmed and deployed to assist transactions across several blockchains and without involving any third-party or exchange platforms. This reduces the company’s overheads and also maximizes security. Litecoin has now incorporated Lightning Cross-chain Atomic Swaps. Today, the development team of this coin is concentrated around integrating confidential transactions onto their network. This coin is really looking great from a technical perspective. Founder of Litecoin Charles Lee is a computer scientist, best known as the creator of Litecoin. He serves as the chairman and managing director of the Litecoin Foundation. He also works for Coinbase.