Litecoin (LTC) is a second Bitcoin's fork cryptocurrency after Namecoin. Litecoin is the second most popular cryptocurrency in the world after Bitcoin. Popular Bitcoin forks also include Ripple. Creator of digital currency Litecoin is Charles Lee. Litecoin was introduced on October 7, 2011. The Segwit (Segregated Witness) protocol was used creating Litecoin. It was widely used in Bitcoin forks to solve the problem of scaling and increasing the speed of transactions. Segwit changes the transaction format by splitting the transaction into two segments and moving the unblocking signature into a separate final segment with a 4 times size reduction.
Lightcoin features
1. Stability. For the entire existence of this cryptocurrency there were no extreme fluctuations in its exchange rate.
2. A rather high transaction processing speed. It is 2.5 minutes Ripple versus 10 minutes Bitcoin.
3. Decentralization.
4. Open access to information on transactions with complete user anonymity.
5. High memory requirements. Hash function "scrypt" uses the Bitcoin SHA256 hash function as a subroutine increasing the number of arithmetic operations and requiring quick access to lots of memory space.
