Litecoin Finance is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin Finance is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin Finance features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin Finance is a proven medium of commerce complementary to Bitcoin.
Litecoin Finance is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.
The Litecoin Finance blockchain is capable of
handling higher transaction volume than its counterpart - Bitcoin. Due to more
frequent block generation, the network supports more transactions without a need
to modify the software in the future.
As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.
Wallet encryption allows you to secure your
wallet, so that you can view transactions and your account balance, but are
required to enter your password before spending Litecoin Finances.
This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments.
Litecoin Finance is a CPU only mining algorithm
called YesPoWerR16. Miners are currently awarded with 50 (this value returned after hardfork at block 1858800) new Litecoin Finances
per block, an amount which gets halved roughly every 840,000
The Litecoin Finance network is therefore scheduled to produce 170835000 Litecoin Finance coins.