Litecoin created in 2011.
Software purse is distributed with open source, so anyone can check how it works. If the Bitcoin - is "e-gold" is litecoin - "electronic money". At the moment, a fork is quite stable, and it is worth noting that in the LTC markets are readily convertible to BTC.
Litecoin Scrypt uses the algorithm proof of work, this algorithm works intensively with memory.
Differences Litecoin from the Bitcoin :
Litecoin more efficient use of the CPU for calculations than the Bitcoin, the superiority of mining on the GPU is less pronounced.
Blocks Litecoin generated on average every 2.5 minutes, which allows you to confirm the transaction quickly.
When ASIC miners Litecoin not get mine with the same efficiency as Bitcoin due to high memory requirements.
Miner litecoin, built-in web-site will pay for itself faster than the Bitcoin miner, which is needed for efficient operation of access to GPU.
Due to the accelerated generation Litecoin client blocks in the block verification mode may be longer than the Bitcoin client computers with weak processors.
The Litecoin wallet there is the possibility of mining SOLO or in the pool, including P2P.
Zloumyshlinikam difficult to conduct double the cost of the rapid generation units (on average 4 times faster than in the Bitcoin network).
Difficulty recalculated roughly once every 3.5 days.
Total network may exist 84000000 LTC, which is 4 times greater than the maximum amount of BTC.
Remuneration in the generation of new units is reduced by half every 840 000 units.