What is it?
Litecoin is a peer-to-peer cryptocurrency similar to its predecessor Bitcoin in many ways, as Litecoin was forked from original Bitcoin source code and launched in 2011 by Charlie Lee, an ex-Google employee. Technically, Litecoin and Bitcoin blockchains are very similar, both utilizing the proof-of-work concept. The main differences are a decreased block generation time, a larger number of coins and a different hashing algorithm.
Litecoin is and always was great for making instant payment to anyone, anywhere in the world. That’s also one of the reasons why litecoin is being used as a currency for making or accepting online payments more than ever before.
CoinGate not only allows to buy, sell or accept litecoins but also provides ways to spend them casually.