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A peer-to-peer network similar to Bitcoin's handles Litecoin's transactions, balances and issuance through scrypt, the proof-of-work scheme (Litecoins are issued when a small enough hash value is found, at which point a block is created, the process of finding these hashes and creating blocks. This information includes, but is not limited to, IP addresses, browser details, timestamps and referring pages. Litecoin is intended by its developers to improve upon Bitcoin, offering several key differences. Btc24, full Member, offline, activity: 196, merit: 100 9971ea1a, newbie, offline, activity: 56, merit: 0 combo. Member Offline Activity: 406 Merit: 250 deaconboogie Full Member Offline Activity: 138 Merit: 100 Mooncoin: BTC: swifty1337 Newbie Offline Activity: 56 Merit: 0 Gamer67. As of November 2013, Litecoin had received extended coverage by mainstream media with agencies such as the Wall Street Journal, cnbc and The New York Times citing it as an alternative (or possibly even successor) to Bitcoin. YOU decide how often to claim! The issuing rate forms a geometric series, and the rate halves every 840,000 blocks, roughly every four years, reaching a final total of 84 million LTC.