Hello, i'm trying to understand the underlying technology behind Litecoin? How is this different from the Ethereum network and BTC?
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It is very different in a sense that it allows for PoS (proof of stake) in addition to PoW (proof of work). Another coin with PoW / PoS combination is AAA COIN (www.aaacoin.us)
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Best way to find out about their technology is by going through their official website and read threads on bitcointalk
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the basic difference between litcoin and any other blockchain like bitcoin and ethereum is the time to generate the block
technically they use different POW(proof of work)
Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing.
Litecoin, however, uses the scrypt algorithm – originally named as s-crypt,
This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin.
Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone.
Hope it helps!!
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