Litecoin is a peer-to-peercryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open sourcecryptographic protocol and is not managed by any central authority.While inspired by, and in most regards technically nearly identical to Bitcoin (BTC), Litecoin has some minor technical differences compared to Bitcoin and other major cryptocurrencies.
Litecoin is different in some ways from Bitcoin.
The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes. The developers claim that this allows Litecoin to have faster transaction confirmation.
Litecoin uses scrypt in its proof-of-workalgorithm, a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.
With digital currency Bitcoin taking the spotlight in 2017, it’s hard to remember the other cryptocurrencies that have been growing in its shadow.
An increasingly-prominent example: Litecoin. The fourth largest digital currency by market capitalization has gone positively vertical this year, with Litecoin prices breaching $320 for the first time Tuesday. Since the start of 2017, Litecoin has risen 7,291% against bitcoin’s 1,731%.
So why the rise? There doesn’t seem to be a single event—though the recent surge in interest surrounding cryptocurrencies may have pushed some investors into becoming more adventurous. Some investors may also think the price of bitcoin is overdone—and are seeking other investment opportunities. Meanwhile, Litecoin only became somewhat easier to purchase earlier this year, with Coinbase adding the cryptocurrency to its listing.
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Source:- http://fortune.com/2017/12/12/litecoin-bitcoin-price-2018/
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https://googleweblight.com/i?u=https://en.m.wikipedia.org/wiki/Litecoin&grqid=ZxZ3U4rX&hl=en-IN