Light Litecoin (LTC)
Peering electronic payment system using the same name of the cryptocurrency. Algorithm underlying Litecoin, similar to the algorithm most famous peering currency Bitcoin. The main difference is that in the calculation algorithm Litecoin is used extensively RAM. That makes problematic to develop specialized processors (ASIC) for Litecoin and provides an opportunity efficient use of conventional computers with graphics processors to generate new blocks (Mining). Furthermore, the time required for confirmation of payment from Litecoin at four times shorter (on average 2.5 minutes) than Bitcoin.
Cryptographic hashing algorithm - Scrypt
Generation System - proof of work
Blocks to the complexity recosting - 2016
Expected generation time - 2.5 min
Total coins - 84000000 LTC