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What Does Litecoin Solve (Litecoin Zhihu)

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What problem does Litecoin solve? According to bitcoinist, the main solutions t

What Does Litecoin Solve (Litecoin Zhihu)

What problem does Litecoin solve? According to bitcoinist, the main solutions that Litecoin provides include increasing block size, reducing block time, improving network performance, and lowering transaction fees.

Litecoin adopts a unique consensus algorithm (proof-of-work mechanism) to improve the scalability of the blockchain. Its design purpose is to ensure that the security and decentralization features of Bitcoin can be widely applied in commerce. In the past few years, Litecoin has successfully achieved its goals of maximum scalability and security.

Litecoin Zhihu

According to official sources, Litecoin Zhihu went online on August 17th. It is described as a new form of digital asset composed of various types of cryptocurrencies, with the main characteristics of easy transfer and circulation, divisibility, anonymity, and security.

On the eve of Litecoin’s mainnet launch in late 2017, Litecoin’s founder, Charlie Lee, stated that LTC has the potential to become an important component of the global payment system. It will enable people to use Bitcoin and some of the most mainstream cryptocurrencies at a lower price. He believes that, over time, Litecoin will be accepted by the public in the coming years.

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