What is Litoshi?

What is Litoshi?

Litecoin is a P2P cryptocurrency as well as open source software project that was released under the MIT/X11 license.

Technically inspired by Bitcoin, Litecoin creation and transfer is based on an open source protocol and isn’t managed by any central authority.

It is intended by its developed with an aim to improve upon bitcoin, providing several key difference.

Litecoin was released through an open-source client by Charlie Lee on GitHub on October 7, 2011. It was a fork of the Bitcoin Core client, varying primarily by having a decreased block generation time, an increased maximum number of coins, slightly modified GUI and a different hashing algorithm.

As of November 2013, Litecoin had got extended coverage by mainstream media with top media firms including the Wall Street Journal, the New York Times and CNBC citing it as an alternative to Bitcoin.

In May 2017, Litecoin became the first of the top-5 cryptocurrency to adopt SegWit. Later in that year, the first Lightning Network transaction was done through Litecoin, while transferring 0.00000001 LTC from Zurich to San Francisco in under one sec.

You May Also Read: How Many Bitcoins Does Satoshi Have?

Litecoin Faucets and Litoshi

In case you already know the basics about Litecoins, then you would immediately comprehend that the amount given by Litecoin Faucet is nominal.

You will not spend much time on claiming these rewards even if it’s free.

Thus, the majority of the users of Litecoin Faucets are the beginners who simply began to try hands-on litecoin or children who can’t legally buy or sell litecoins.

You May Also Read: Bitcoin Satoshi Vision

Free LTCs with No Serious Financial Expenses

When we get more understanding about the cryptocurrency and about the possibilities it comes with, we wish to get some amount of these coins in our account.

The only way to receive some free litecoins without any serious financial expenses is by visiting the pages with the so-called LTC faucets.

Litecoin was invented on Bitcoin base. Thus it has almost the similar names of the derivatives. Satoshi became Litoshi, milli-bits became milli-litecoins, etc.

You May Also Read: Satoshi Nakamoto

What is Litoshi?

A Litoshi (1 Litoshi = 0.00000001 LTC) is the smallest unit of a Litecoin. It can be assumed to be exact a hundred millionth of a Litecoin (1 LTC = 100 000 000 Litoshi).

On these Litecoin faucets, you can get a fixed amount of Litoshi, that fulfils the simple actions before that.

The typical order of actions on such websites includes the entering a page, log in, typing the address of your Litecoin wallet, waiting several minutes, typing a captcha, taking the reward by clicking the button.

You May Also Read: List Of Self Proclaimed Bitcoin Inventors

Claiming Free Litoshi

Remember that it’s about to take some of the time to get to that amount by using faucets, but it’s fun and it’s absolutely free.

And, even if you visit a few faucets regularly, then think about how much you can receive after 1 year. Be patient, results will come!

Do you know when will Litecoin Halving take place?

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