Litecoin Dedicated Node

The Litecoin network was one of the first successors of the Bitcoin network. It was created in 2011. The Litecoin algorithm is Scrypt - and that is the main difference from Bitcoin's SHA-256 algorithm. Both the Litecoin and Bitcoin networks use variations of the Proof-of-Work algorithm to validate transactions, which implies the need for mining. For a long time, only video cards were used to mine Litecoin. Now the Litecoin network is mostly supported by ASICs. LTC coins are circulating in the Litecoin network. The total number of LTC coins is limited, with a maximum of 84 million LTC coins possible. Thanks to L2 solutions, the Litecoin network can support web3 apps, dApps, and blockchain smart contracts. In comparison with the Bitcoin network, the speed of transactions in the Litecoin network has increased by 4 times. The throughput of the Litecoin network has also increased significantly compared to the Bitcoin network.

The LTC node system is largely inherited from the Bitcoin network. Like the Bitcoin network, Litecoin node owners do not receive any remuneration. Like Bitcoin, there are light LTC nodes and full LTC nodes. Litecoin light nodes are also referred to as registry nodes. They only transfer transactions between Litecoin light nodes until the transaction reaches a full node. When a transaction reaches a full LTC node, it does a deeper validation of the transaction and, based on the results of the validation, either writes the transaction to the Litecoin blockchain or rejects it. To support a full Litecoin node, it is enough to download and install the software on the Litecoin dedicated server from the project's official website. Developers of web3 apps, dApps, and blockchain smart contracts for the Litecoin network have access to the powerful Litecoin API. It has support for WebSockets blockchain API, JSON RPC blockchain API, and blockchain endpoints.

Litecoin blockchain is much faster than the Bitcoin blockchain. However, for today's web3 apps, dApps, and blockchain smart contracts this speed is still not enough. A second layer solution called Lighting network helps to significantly increase both transaction speed and bandwidth in the Litecoin network. Transactions between nodes in the Lighting network are almost instantaneous, with an almost insignificant fee. In addition, through the Lighting network, it is possible to exchange Bitcoin coins for Litecoin coins without the involvement of exchanges and other trading platforms.

In addition, the Litecoin network has all possibilities for anonymous payments between Litecoin nodes. Another second-level solution is used for this purpose, which is called MimbleWimble. It is a protocol for both anonymity and improving the scalability of the Litecoin network.

Litecoin dedicated nodes are necessary for developers who create web3 apps, dApps, and blockchain smart contracts for the Litecoin network. Since running dApps for the Litecoin network involves the risk of losing money, developers first test the functionality of their apps in Litecoin testnet. The coins in Litecoin testnet have no value whatsoever. Litecoin testnet and Litecoin mainnet settings are almost identical. Only the settings of the Litecoin nodes that are connected differ.

Litecoin dedicated node is a Litecoin dedicated server. Since setting up and configuring a Litecoin dedicated server (dedicated node) is extremely complicated even for an experienced developer, a good solution is to use a dedicated Litecoin blockchain node as a service. In this case, you will get rid of a lot of problems related to the installation and configuration of the Litecoin dedicated node and will be able to fully develop the Litecoin potential. Using dedicated nodes is a great way to save developers time and effort.