Litecoin Core is the official full node client of the Litecoin project, with support for Windows, macOS, and Linux. It is open-source, offers advanced features, and is updated regularly by the development team so as to make it easier to use by anyone as well as more stable and secure.
The functions of the Litecoin Core Client are as expected – storing, sending, and receiving Litecoin and transaction history. The latest version supports multiple separate wallets, better fee estimation, and many more improvements from previous releases. The user needs to download the full blockchain on his computer, which will take a long time, but it is more stable and secure.
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Litecoin Core Features & Fees
As a full node, the desktop wallet’s interface guides users through every action they request to perform. Transactions placed via this software are considered faster and frequently require a lower fee compared to other alternatives, because of the SegWit integration.
Pros & Cons
Pros
- Open-Source Code
- This means that all the Litecoin users are able to read the code and propose some implementations to modify the software
- Full Node Nature
- It’s necessary to locally store the blockchain on your PC to support the network. Meanwhile, you’re quickly adding new transactions to the next block in return of a small fee
- Hierarchical Deterministic (HD)
- This is a feature to provide an automatic generator of keys. It’s a tree of credentials, which you might access via a 12-word seed phrase
- Customer Service Support
- Litecoin’s community is known for being very active and responsive to all kind of requests, so don’t hesitate to ask your question
Cons
- Single Factor Authentication (SFA)
- There’s a lack of any additional security layers in Litecoin’s official wallet
- Sync Time
- There’s a period of time required for the blockchain to sync with your wallet, which is around 7 to 8 hours before you can start using it
Operating System Compatibility
At the moment, the Litecoin blockchain’s size is around 20GB, but it’s constantly increasing with the addition of new data to the network. For the purpose of downloading the Core Litecoin client, your PC needs to have at least a 1 core CPU, 2GB of RAM and an operating system that fits the criteria below. Note that if your computer isn’t corresponding to the wallet’s requirements, you will be more likely to often deal with some issues. The constant internet connection is a must-have condition to run a full node wallet. It’s recommended that your speed is at least 50 KB/s, so you can smoothly operate with your Litecoins.
Company Behind the Desktop Wallets
The Litecoin project is backed by the Litecoin Foundation, registered in Singapore. They desire to make the world better by integrating the Blockchain.
The Directors of the project are namely Charlie Lee, Xinxi Wang, and Franklyn Richards.
The developers behind Litecoin Core are active in communication and other forums. They frequently release updates to the software, so keep an eye out!
Read More: What Is The Best Litecoin Wallet?