What is Litecoin?
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.
Find support across a growing number of Litecoin communities:
- Litecoin Forums
- Reddit Litecoin
- Search for Users on Twitter
- IRC FreeNode network channels #litecoin (for general users) and #litecoin-dev (for developers).
Open Source Software
Litecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.
As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.
This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments.
The Litecoin network is therefore scheduled to produce 84 million litecoins, which is 4 times as many currency units as Bitcoin.