Litecoin (LTC) is a peer-to-peer cryptocurrency and one of the first altcoins to be created. LTC was released in 2011 as a fork of the pre-existing Bitcoin core client but differs by possessing a reduced block generation time, higher maximum cap of coins and different hashing algorithm. The cryptocurrency has been likened to silver when compared to Bitcoin’s gold.
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Litecoin’s creator, Charlie Lee, said the token was developed to be complementary to Bitcoin and not necessarily to compete with the original cryptocurrency. LTC was created with the intent that it would be utilized for the transaction of smaller ticket-items, prioritizing speed from reduced block generation time. Additionally, the lower price of LTC makes it more accessible to the market.
At Travala.com, we offer more than 3,000,000 travel products in over 230 countries available for purchase with LTC. Plus, you’ll receive a 2% giveback in the AVA rewards token on every accommodation booking.
Travala.com's intuitive booking experience is designed to be familiar and simple to navigate. Simply choose your desired travel product, enter your details, and select from a variety of available payment options, including traditional credit and debit cards, LTC, and 90+ other cryptocurrencies.
Litecoin possesses lower transaction fees and can handle four times the number of transactions when compared to Bitcoin. This is primarily due to the shorter block generation time and makes the cryptocurrency ideal for transferring cryptocurrencies between wallets and for small transactions.
Store your LTC securely with the following wallets:
The main differences between Bitcoin and Litecoin are their block generation times, proof-of-work algorithms and maximum coin supplies. The block generation time of Bitcoin is approximately 10 minutes whilst Litecoin’s block generation time is roughly 2.5 minutes. Bitcoin uses the SHA-256 algorithm whilst Litecoin uses Scrypt. Lastly, Bitcoin’s supply is limited to 21 million whilst Litecoin has a supply of 84 million.