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What is Litecoin?

Litecoin was invented in an effort khổng lồ create an alternative cryptocurrency similar khổng lồ Bitcoin. Charlie Lee, a computer scientist, took Bitcoin’s core code and made modifications lớn them. He launched the project in October 2011 through a message he posted on a Bitcoin forums.

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As technically almost identical to the cryptocurrency created by Satoshi Nakamoto, people often think of Litecoin (LTC) as the lite version of Bitcoin. Similarly, Litecoin is also designed to be a deflationary asmix, with only 84 million LTC tokens that will ever be created.

As an open-source software project, Litecoin uses an open-source blockchain protocol that’s không tính tiền from third parties’ meddling in the token creation & transfer process. Creating a Litecoin token involves a process called mining that employs a memory-intensive sầu hashing algorithm called Scrypt. It takes roughly 2.5 minutes khổng lồ produce one Litecoin bloông xã in the Litecoin mining process, which is four times faster than it does for Bitcoin.

Why Litecoin

A faster bloông chồng confirmation means more transactions can be processed within the same timeframe. This capability, added with the option to lớn accept transactions without the need to lớn wait for any confirmations, is considered Litecoin’s competitive sầu advantage that potentially makes it an attractive sầu choice for merchants. In the long run, it could mean more use cases and potential for growth, which may lead khổng lồ broader adoption.

The Litecoin Network has also adopted several technologies that bring significant improvements to lớn the network, such as Segregated Witness or SegWit, the Lightning Network, & Atomic Swaps.

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How to lớn buy Litecoin on hozo.vn

A crypkhổng lồ exchange is one of the best places khổng lồ buy cryptocurrency. On hozo.vn, the process is simple and straightforward, with different payment methods và platforms khổng lồ accommodate your needs.

1. Log in to your hozo.vn account or sign up lớn create one.

2. Go khổng lồ the Deposit page.

3. In the Cryptocurrencies section, choose the cryplớn you want khổng lồ buy LTC with và create a deposit address on the Exchange wallet.

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5. Once the funds arrive in your wallet, you can use them lớn buy LTC. Learn how khổng lồ trade on hozo.vn here.


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