|Coin Proof||Proof of Work|
The Litecoin Project was conceived and created by Charles Lee with support of members in the Bitcoin community. It was pre-announced and was launched on October 13th, 2011.
Based on Bitcoin’s peer-to-peer protocol, Litecoin brings a number of features viewed by its development team as improvements over Bitcoin’s implementation.
The main feature is use of Scrypt as its proof-of-work algorithm. A proof-of-work algorithm creates a computational challenge to be solved by the network of computers in order to “certify” a “block” of transactions.
Scrypt was developed in 2009 by Colin Percival of Tarsnap Inc., and –in contrast with Bitcoin’s SHA-256d– serves to inhibit hardware scalability by requiring a significant amount of memory when performing its calculations. - source
Litecoin Core v0.14.2 released! This is an important update, all users are advised to upgrade t.co/WzW1mzSlS6
SegWit & CSV activation imminent. All users, especially miners and exchanges are advised to upgrade to 0.13.2 ASAP! t.co/rTAM2atpFh
SegWit has activated on testnet! If you mine on testnet and haven't upgraded, please do so ASAP! Release info here: t.co/I5GWPmSWTZ