More detail: https://ohiobitcoin.com/coins/litecoin-ultra
LITECOIN ULTRA (Symbol: LTCU) is a peer-to-peer cryptocurrency and open source software project released by a group of litecoin fans, entrepreneurs, and junior developers. Creation & transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. While inspired by, and in most regards technically nearly identical to Litecoin (LTC), Litecoin Ultra has some technical improvements over Litecoin, and most other major cryptocurrencies, such as the adoption of Proof Of Stake (PoS) and Proof Of Work (PoW) random superblocks. These effectively allow a greater amount of transactions to be processed by the network in a given time, reducing potential bottlenecks, as seen with other cryptos. Litecoin Ultra also has near zero payment costs and facilitates payments approximately four times faster than bitcoin. The Litecoin Ultra project was launched on the 11th July 2017 when the first block of LTCU was mined. The Litecoin Ultra blockchain is a fork of the bitcoin blockchain and was launched without an initial coin offering (ICO), high pre-mine, or pre-allocation of funds. Including a 100% fair unstamined launch. With a small initial pool of funds to draw from, and pay development expenses, Litecoin Ultra is and will continue to be a ‘labour of love’ of its developers and community.
