litecoin news ltc – Differences between Litecoin and Litecoin ultra – Flash Facts
Most of us know about Litecoin, but not so much about the newer Litecoin ultra. I hope this post provides some insight into this new cryptocurrency and help you decide whether to invest in it or not. Before you make that investment it is essential to learn all about a certain coin because there have been several pump and dump schemes that started out seeming like
Origin and purpose
In 2011, Charles Lee created Litecoin as a fork off bitcoin. In a 2013 interview with CoinDesk, he explained that the creation of Litecoin was intended to bring fairness into the cryptocurrency industry. According to him, the use of ASICs to mine bitcoin had made the process unprofitable for individuals using their personal PCs, even with dedicated graphics cards. To prevent this ‘monopolization’, Litecoin uses a scrypt hashing algorithm while bitcoin uses SHA-256.
