A point-to-point cryptocurrency, also an open source software project under the MIT/X11 license, was released as early as October 7, 2011 through Github's open source client.
Currency symbol: Lite Coin is inspired by Bitcoin and has the same implementation principle in technology. The creation and transfer of Lite Coin are based on an open source encryption protocol and are not subject to the management of any central authority. Litcoin aims to improve Bitcoin. Compared with Litcoin, it has three significant differences: first, Litcoin network processes one block every 2.5 minutes, so it can provide faster transaction confirmation; ]Second, the Litcoin network is expected to produce 84 million Litcoin, four times more than the amount of money issued by Bitcoin network; Third, Litcoin uses the Scrypt encryption algorithm first proposed by Colin Percival in its workload proof algorithm. Before the birth of ASIC mining machine, compared with Bitcoin, it was easier to mine Litcoin on ordinary computers.
