Litecoin Introduction

Charles Lee created Litecoin in 2011, and it is now the 2 ndor 3rd largest digital currency after Bitcoin. For those already using Bitcoin, Litecoin has a few surprises for you. The main desktop application is an enhancement of Bitcoin-QT Client, and you can download it from Litecoin’s website-you can also use it as a digital wallet.

Litecoin is different from Bitcoin in some ways. To begin with, the cap for Bitcoin is 21 million coins while the cap for Litecoin is 84 million.

Litecoin has begun with a mining reward of 50 coins for every block just like Bitcoin. However, the award for Litecoin halves every 840,000 blocks which is larger than the set 210,000 for Bitcoin.

The Litecoin transaction fee is slightly higher than that of Bitcoin, but again, one Litecoin is worth 0.019BTC.

Where on earth can you get Litecoin? If you are not a miner, you have to purchase Litecoin from one of the few;

* BitBargain UK

* Bittylicious

* Bitfinex

* BTC-e

* BTER

* Kraken

* Cryptsy

* Vircurex

* CoinMKT

Litecoin is still very far from matching Bitcoin’s standards and getting merchants to accept…