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Public key encryption is used in Litecoin transactions to ensure confidentiality. The public key is used to encrypt a text, which can then be decoded only by using the appropriate private key. The private key is used to decrypt encrypted text and create a digital signature. A message created with the private key of the transmitter can be checked by anyone by accessing the appropriate public key, thus ensuring the authenticity of the message.
Litecoin is a decentralized electronic payment system and on open-source digital currency created in 2009 by Satochi Nakamoto, to ensure the protection of investments and the free financing by business without calling on financial institutions and outside any constraints and regulations. Transactions of the form payer X sends Y Litecoins to payee Z are broadcast to this network using readily available software applications. The Litecoin blockchain is a public ledger that records Litecoin transactions. It is implemented as a chain of blocks, each block containing a hash of the previous block up to the genesis block of the chain. Litecoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. A network of communicating nodes running Litecoin software maintains the blockchain.
The Litecoin system works on a peer-to-peer network and asymmetric cryptography. Asymmetric cryptography uses a pair of asymmetric keys (public and private). The term „asymmetric” comes from the use of different keys to perform two opposite functions (encryption and decryption), each being the reverse of the other. The transfer of funds between public accounts uses public cryptographic keys to confirm transactions and prevent double-spend.
Most stores and outlets use a tablet or mobile phone to allow customers to pay through wallets on their mobile phones. Is easy, we don't ask you any personal data and you don't need to do any account. Why to choose a Bitocin payment processor? With Litecoin payment processor you can process and issue invoices yourself or you can use the services of a trader and receive directly you country value or Litecoins. You could make a Litecoin payment for everything you want in just few minutes.
LitePay platform allows website owners, developers and merchants to accept Litecoin and Litecoin easily without the need of submitting any kind of identifiable personal information. Is easy, we don't ask you any personal data and you don't need to do any account. Are you tired of using Litecoin/Litecoin payment gateways and processors that require verification, signup for service or keep logs? You could make a Litecoin payment for everything you want in just few minutes. We have a solution for that and offer such services with an emphasis on anonymity. Why to choose a Litecoin payment processor ?