LitecoinZ is a fork of Zcash, which in turn is a fork of Bitcoin. However, where Zcash has diverged from Bitcoin's codebase and receives limited rebasing of new Bitcoin features, LitecoinZ has been fully merged back into the Bitcoin codebase.
LitecoinZ uses the reference Bitcoin node, called Bitcoin Core, as the base code for its node software and thus is completely interoperable with software designed to integrate with Bitcoin. Users familiar with Bitcoin Core's graphical interface will feel at home with LitecoinZ's.
LitecoinZ retains all of Zcash's powerful anonymizing features through the use of shielded addresses also known as z-addresses. These addresses utilize zk-SNARKs zero knowledge proofs to anonymize the source, destination, and amount of transactions between two shielded addresses. As is also the case with Zcash, standard Bitcoin addresses are also available in LitecoinZ due to the high computational requirements of shielded addresses.
Like its parent cryptocurrencies, LitecoinZ utilizes the concept of proof of work to ensure transactions are validated by trusted parties, also called miners. LitecoinZ mining utilizes the Equihash 144,5 algorithm which is designed to be run on consumer-available GPUs. Constraining LitecoinZ's mining to GPUs is believed to democratize the ownership of the network.
|Block Time||10 minutes (prev. 2.5 minutes)|
|Block Size||8 MB|
|Block Reward||50 LTZ|
|Mining Algorithm||Equihash 144,5|
|Maximum Supply||84,000,000 LTZ|
|First Block Date||Dec 19, 2017|
|Next Halving||Block 840,000|
|Block Explorers||insight.litecoinz.org explorer.litecoinz.org|