Litecoin, like Bitcoin, uses a “proof-of-work” security mechanism – relying on “miners” who expend computational resources to process transactions and secure the network. During that process, miners win rewards – a combination of variable transaction fees and a predetermined “subsidy” that gets halved approximately every four years. (With Litecoin, they happen every 840,000 transaction blocks, and the average time to generate each block is about 2.5 minutes.)
Mt. Gox extends reimbursement deadline by one yr
Key Takeaways Mt. Gox's reimbursement deadline for collectors has been prolonged by one yr. The extension is to permit extra...
