Litecoin is a blockchain-based cryptocurrency which operates similarly to Bitcoin and Ethereum. Litecoin is a P2P coin which allows instant transaction between a sender and a receiver. This is a decentralized payment network that has neither processing center nor Manager. Like others blockchains, the network is provided by math algorithms. Users can control their own finances without third parties — banks or other financial organization. Since Litecoin has more frequent generation of blocks it’s blockchain can handle a higher transaction volume than Bitcoin. Litecoin network supports more transactions without having to change the software in the future. As a result, traders enjoy a faster confirmation time. The blockchain total issue limit is 84 million Litecoins — it is in four times more than the limit of Bitcoins
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