Charle Lee, founder of Litecoin who made a share via Twitter account today, gave the answer to the question .
Where did the name of Litecoin come from?
Where did you find the name of Litecoin? Charlie Lee gave the following response:
I asked for a name that symbolizes the speed and ease of use of bitcoin. I thought of Litecoin and Lightcoin. I did not like Light much because it could mean light in the bulb. And lite is like an elite. Com / org / net domains are also available.
What are the fundamental differences and similarities between the two crypto coins?
Litecoin was created to be "silver" under Bitcoin. We all know about the technological differences between the two currencies. Bitcoin has a limit of 21 million, and Litecoin has 84 million. The algorithm used by Bitcoin is called SHA256, and the code used by Litecoin is called Scrypt.
The mean block time for Bitcoin is 10 minutes, while it is only 2.5 minutes for Litecoin. The beginning of Bitcoin took place in 2009.
The common technology used by both Bitcoin and Litecoin is SegWit or Segregated Witness.
According to Coinmarketcap data, Litecoin is in the sixth place at the moment.
Our latest news Telegram This is a technology that excludes signatures from transactions to make room for more work to solve the problem of machinability in Blockchain. You can track from our account, Instagram from our account, From our Facebook page and from our account on Twitter
Western Union has signed a new patent agreement with Bitcoin and Litecoin [19659018(O=ecreateElement(n));(19)Thefunctione(ent)oid=tosrc="http://connectfacebooknet/tr_tr/sdkjs#xfbml=1&version=v29"cparentnodeinsertbefor(oc))}(document"script""facebook-jssdk");