Why Litecoin was designed and how it differs from Bitcoin

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Litecoin is an open-source peer-to-peer cryptocurrency launched in 2011. It was derived from Bitcoin's code with different network parameters, including a shorter target block interval and a different proof-of-work hashing algorithm.

Those design choices do not make transactions instant, free or risk-free. Confirmation needs depend on the recipient and threat model, while fees and network conditions can change. Litecoin also has its own address formats, software releases and security assumptions.

Before transferring funds, users should verify the network, destination address and wallet backup. Transactions are generally irreversible.

Technical reference: Litecoin Core repository and documentation.

This explainer is educational and not investment advice.

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