Litecoin

Due to the size of its market capitalisation, Litecoin is rendered to be the third biggest cryptocurrency after Bitcoin and XRP. Users go to Litecoin to transfer currencies from one to another but in units of Litecoin, as opposed to USD. Just like the other cryptos, Litecoin is not issued by the government instead they are created through a process known as 'mining'. There are only meant to be 54 million Litecoins in circulation after this, the process will cease. There are incentives provided for miners who successfully verify something called a block. A block is a record of all recent Litecoin transactions throughout the world. Litecoin is known to be in high correlation with Bitcoin sort of like Gold and Silver when trading precious metals.

Litecoin sangatlah mirip dengan Bitcoin, namun dengan beberapa fitur unik. Satu transaksi dalam jaringan Litecoin diproses hanya dalam waktu 25% dari waktu yang dibutuhkan untuk memproses satu transaksi pada jaringan blockchain Bitcoin. Litecoin juga lebih mudah untuk ditambang, dimana pencipta Litecoin berharap hal ini akan membuat jaringan Litecoin akan semakin terdesentralisasi.