Litecoin Litecoin (abbreviation: LTC, currency symbol: Ł) is based on "peer to peer" (peer-to-peer) network technology, currency, also MIT / open source software project under the X11 license. It can help users instant payments to anyone in the world. Litecoin inspired by Bitcoin (BTC) and has the same technical realization of the principle, the creation and transfer of litecoin based encryption protocol, an open source, not subject to any central management agencies. Litecoin aimed at improving bit credits, as compared therewith, litecoin with three significant differences. First, the network litecoin every 2.5 minutes (instead of 10 minutes) can handle a block, it can provide faster transaction confirmation. Second, litecoin network is expected to yield 84 million litecoin, Bitcoin network is issued four times the quantity of money. Third, litecoin algorithm used by the encryption algorithm scrypt Colin Percival was first proposed in its effort to prove that this makes compared to Bitcoin, a litecoin easier to dig in on a normal computer. Each litecoin is divided into smaller units 100,000,000, defined by eight decimal places.