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Litecoin

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Litecoin has recently been added to the NetCents exchange. It offers some advantages over other popular cryptocurrencies such as a higher upper limit of coins (84 million compared to Bitcoins 21 million upper limit). Another is the speed at which Litecoin is able to confirm transactions. Generally viewed as being able to confirm transactions 4 times faster than Bitcoin, it does require 4 times the confirmations which does net a quicker confirmation time. As a result of faster confirmation times Litecoin also offers lower fees from the block-chain, incentivizing users to exchange and circulate the cryptocurrency. Reduced risk of transaction failure is another advantage that arises from Litecoin’s fast confirmation speeds. Litecoin also offers stronger security using a new cryptographic algorithm known as scrypt as compared to the long standing SHA256 cryptographic algorithm that is used by Bitcoin.

Litecoin will now be available on the NetCents exchange for trading along with Bitcoin, Ethereum and NCCO. As well as transferring Litecoin into, out of and between NetCents user accounts.

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