Core Concepts

Created by Admin KL, Modified on Tue, 6 Feb at 8:44 PM by Admin KL

What is a Blockchain?

  • A blockchain is a decentralized ledger recording all transactions across a network, ensuring integrity and order through cryptographic techniques.

What is Litecoin?

  • Litecoin is a decentralized cryptocurrency for instant, near-zero cost payments globally, featuring faster transactions than Bitcoin.

What is LTC?

  • LTC is Litecoin's native cryptocurrency, rewarding miners in the proof-of-work consensus mechanism for securing transactions.

Litecoin's Technology and Features:

  • Focuses on speed with 2.5-minute block times.

  • Does not support smart contracts, focusing on digital currency use.

  • Introduced MWEB in 2022 for optional transaction privacy.


  • Blockchain: Public ledger of the Litecoin network.

  • LTC: Cryptocurrency used for transactions and rewards.

  • Transactions: Movements of LTC recorded on the blockchain.

  • Secure Digital Assets (SDA): NFTs on Litecoin with low fees and store-of-value properties.

  • Blocks: Grouped transactions added to the blockchain regularly.

  • Mining: Process of validating transactions, rewarded in LTC.

  • Genesis Block: The first block in a blockchain, foundational for all subsequent blocks.

  • Halving: Event reducing mining rewards by half to control inflation and extend cryptocurrency life.

Was this article helpful?

That’s Great!

Thank you for your feedback

Sorry! We couldn't be helpful

Thank you for your feedback

Let us know how can we improve this article!

Select at least one of the reasons
CAPTCHA verification is required.

Feedback sent

We appreciate your effort and will try to fix the article