One Cancels Other Order OCO Definition

As you’re entering into a trade, you might second-guess whether you’re entering at a good price. Then, when you decide to exit the position for profit, you might feel like there’s more gain available, fearing that you’re leaving money on the table. Read more about how much is 1 eth in usd here. Or, if you exit the position for a loss, you might feel like the market may turn around and move back to break even — or better. The stop order is placed at a specific price below the current market, such that if the price is triggered, the order converts to a market order. On the other hand, the limit order, which is also placed at a specific price, has a price location better than the current market price.

What stock app is better than Robinhood?

For overall similarity: Webull

Webull is a relative newcomer, but has quickly earned a spot as an alternative to Robinhood because of how similar the two are. Webull is easy to use, sleek on mobile and offers free trades on stocks, options and cryptocurrency, much like Robinhood.

The FOK order is unique in that it’s the only order type you don’t want to yell over the phone to your broker when in a public setting, as people invariably get the wrong idea. Aside from this, the FOK order is like an all-or-nothing order but with the time limit of an immediate-or-cancel order. You’re probably thinking, “OK, but how far below my position should the trailing stop follow? If you’re using the thinkorswim platform, you could pull up an order ticket and select from the menu under the order type . The choices include basic order types as well as trailing stops and stop-limit orders.

Trade More and Get Paid

Or maybe volume is on the thin side and you don’t want to move the market. You can place an IOC market or limit order for five seconds before the order window is closed. You might receive a partial fill, say, 1,000 shares instead of 5,000. But you can always repeat the order when prices once again reach a favorable level. Before implementing any of these order types, it’s important to know a few more things about stop orders. With a stop limit order, you risk missing the market altogether. A trailing stop will not guarantee an execution at or near the activation price.
what is oco order
When the market price hits the price value of the primary order, a new OCO order with the specified parameters of the secondary orders is executed. The If-Then OCO order disappears from the OTOCO group and the new OCO order appears in the OCO group of the Orders window. Trailingcrypto is an advanced cryptocurrency trading terminal. Utilize OCO orders to maximize your profit and set a minimum profit in case of a trend reversal. This ensures that your winning position will be protected. You can do so by setting the limit order as your profit target and using the stop limit order to protect your gains. Whenever the limit order is triggered, stop-limit order will be canceled automatically. If the stop price is reached, stop limit order will be executed, and the limit order will be placed. We all know that crypto trading has become the hottest trading market these days than gold, oil, or even stock market trading.

How to set a default profit target % and stop

Go to and click “Select Market.” Select the cryptocurrency that you want to trade. Suppose BNB is trading between 510 BUSD and its resistance price of 540 BUSD. You would like to buy BNB if the price drops to 500 BUSD or rises above 540 BUSD. On Binance, OCO orders can be placed as a pair of buying or selling orders. You can find more information about OCO orders by clicking on the “i” mark.

OCO or one-cancels-the-other order consists of two opposite pending orders, either of which triggers when the chosen asset touches a certain level. To conclude, the OCO order is a tricky trading instrument. A beginner trader should avoid using this type of order as the risks of loss are high. Some brokers don’t allow you to use this order, that’s why it’s not a standard tool of the MetaTrader platform.

Best Cash Secured Puts for Small Accounts

Sometimes, it seems the chance of a bullish and bearish direction is equal. An OCO order represents two ordinary pending orders that are interconnected by the mutual cancelation function. This means that if one of the orders is filled the other is automatically deleted by the system. Deferred OCO orders can be issued on the ATAS trading platform through the SMART DOM or through the Cart Trader module on the chart. An OCO order on Binance consists of a stop-limit order and a limit order with the same order quantity. If you cancel one of the orders, the entire OCO order pair will be canceled. After selecting the OCO option, a new trading interface will be loaded, as shown below.

What is the difference between OCO and single?

In Single order, you need to set one trigger price and the order price for the required quantity. The single trigger order gets placed with the exchange once the trigger price matches. In OCO (One cancels the other), you need to set a stop-loss and target trigger price or %.

Pre-determine your take profit and cut loss points without manual monitoring. So, if the entry Buy Order is executed, two sell orders above and below the initial entry price will be placed respectively as per the set parameters. While opening a long position on Bitcoin, two sell orders will be placed, determining the operation’s gain and loss exits. For placing gain and loss orders that cancel each other automatically, the use of OCO strategies is required. When it comes to options strategies, there are many different ways to make money…. This limit order is combined with a stop loss, which, when triggered, with the aid of a limit order, aids in mitigating the risk to a certain extent. Upon execution of one of the orders, the other order are cancelled automatically. Once some coins have been bought, we want to create a Sell order to take profit. At the same time, it can be wise to use a Stop Loss to protect against downside risk. Content intended for educational/informational purposes only.

How Experienced Traders Use OCO Orders

Once the price breaks above resistance or below support, a trade is executed and the corresponding stop order is canceled. In this case, you would place a buy stop order above the resistance level, as the start of the OT/OCO order. This would have the effect of buying the security if it broke out through the resistance. This type of order is sometimes known as a bracket order. The crypto market is attractive to new and experienced traders because of its strong trends, which also bring increased volatility and risk.
If you enter a long position, a bracket order will immediately place an OCO sell limit and sell stop. The most common use for the OCO order is to set up stop-loss and take profit combination when you have an available base currency on your account. To do so, we would need to combine 2 Sell orders of different types. Your stop loss order executes and your limit order is automatically canceled. In a one-triggers-a-one-cancels-the-other order, you place a primary order which, if executed, triggers 2 secondary orders. A multi-contingent order triggers an equity or option order based on a combination of 2 trigger values for any stock or up to 40 selected indexes. The criteria can be linked by « and at the same time, » « or, » or « then. » A contingent order triggers an equity or options order based on any one of 8 trigger values for any stock, up to 40 selected indexes, or any valid options contract. The following strategy creates two opposite limit orders at the specified time.

However, if you attach a stop-loss and a take-profit to an open position then this will act as an OCO order. A situation where two orders for cryptocurrency are placed simultaneously, with a rule in place to enforce that if one is accepted, the other is cancelled. A passive order is a trading order in which the order price is different from the market price. Determine significant support and resistance levels with the help of pivot points. You can quickly line up an OCO order on an existing open position (stock/ETF, single-leg option, or futures) by locating the position, right-clicking, and choosing Bracket. First, line up your opening order (stock/ETF, single-leg option, or futures) by using the Table or Curve Mode in the trade tab. After lining up an eligible position in the order ticket, click the Bracket button, located in the bottom left-hand corner of the order ticket.
what is oco order
TrailingCrypto is one such trading platform that provides unified exchanges and effective trading tools, and advanced strategies to help traders maximize their profits. OCO is one such tool or order combining 2 entry orders. These orders let investors buy an asset and simultaneously create two sell orders. If one of the orders is triggered, the second one will be canceled automatically. Ultimately, regardless of the price movement, only one order can be executed or remain active in the market at any given time. It essentially eliminates emotions from trading activity and promotes systematic trading by ensuring triggered entering of trades. A trader sets the parameters to be met before a trade is entered. If the conditions are met, the trade is entered; if not, the alternative trade, usually in the opposite direction, is triggered.

The order which executes first stays, while the remaining order is canceled. Another situation when a trader may utilise OCO orders in a slightly different capacity would be around a big news announcement. The trader might then place an OCO order, allowing him or her to sell if it drops, and buy if it rises. A One-Cancels-Other order is a combination of separate orders that are worked in conjunction with one another in the marketplace. A customer enters orders as part of an OCO group, and when an order is executed, the remaining orders in the group are canceled.

Trade Inside Bars with OCO Orders – DailyFX

Trade Inside Bars with OCO Orders.

Posted: Sat, 20 Dec 2014 08:00:00 GMT [source]

Below is an example of an order to buy 100 shares of SPY @ $311.50 with a close at profit order @ $315 and a stop-market to trigger @ $308. An OCO order is a pair of pending orders, one of which is cancelled as soon as the other is executed. Usually, an OCO order is a combination of stop and limit orders. It’s executed automatically when the price reaches the levels set by the trader. Suppose an investor owns 1,000 shares of a volatile stock that is trading at $10. The investor expects this stock to trade over a wide range in the near term and has a target of $13. For risk mitigation, they do not want to lose more than $2 per share. These orders could either be day orders or good-’til-canceled orders.

  • By default, it is the time when the current trading day ends.
  • Using the « Trail (ticks » option, you can set how many ticks away from a specified price type to trigger an OCO.
  • Usually, an OCO order is a combination of stop and limit orders.
  • Additionally, you can select the account you wish to route the order in, as well as view the buying power effect.
  • CO is a cover order that is placed together with a stop-loss order.

Both orders also may be filled in the unlikely event of crash or connection loss. Native OCO-group is used when the broker’s API supports OCO-groups. In this case all OCO orders are sent to the broker directly and unfilled OCO orders will be cancelled by the broker. (Native OCO-group is supported by CQG, Rithmic (RAPI+ only), Interactive Brokers and IWBank). Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.

SFP is also both Derivatives Trading and Clearing member of the Singapore Exchange (“SGX”). When the quantity on the opposite side of the market drops below 20% of your order’s quantity… For this next configuration, the TT OCO is configured to submit a Stop Market order. However, the Payup setting is ignored for Market orders. As of the 6th of January 2021, cryptocurrency instruments are not available to retail clients in the UK. The affiliate programme is not permitted in Spain for the commercialisation of investment services and client acquisitions by unauthorised third parties. Some companies block OCO orders as they may lead to high margins and losses. FAQ Get answers to popular questions about the platform and trading conditions. To do so, all you have to do is to enable the exchange, and look for the OCO option. You can see this option in the Trading Form of Atani app.

By doing this, your order can get triggered at the lower price while preventing any orders from being triggered beyond your price limit. So if the stock opens at a gap beyond $130, your order isn’t filled until the price falls back to $130 or below. If the price hits USD 110, the Stop Order will be triggered, and the Limit Order will be automatically cancelled. It may sound strange how we can define reliable and unreliable assets, but this qualification is based on an asset’s risk. Previously, we said that the OCO order is used in a highly volatile market. That’s why you should choose less risky assets, such as major currency pairs.
what is oco order
This technique of OCO trading is especially helpful when dealing in leveraged products so the trader isn’t overleveraged in their account. For example, let’s say a trader is interested in buying Solana and Tezos, but doesn’t have enough capital to invest in both. Therefore, they set an entry order to buy Solana at the 61%Fibonacci retracementlevel near $143. Additionally, they set another entry order to buy Tezos at the 61% Fibonacci retracement level near $6.50. The trader will then identify the low price of the release, in this case near $54,547. A sell stop order is placed at $54,547 such that if the market reaches this price, the order converts to a market order to sell short. A trader will then identify the high price of the release, in this case near $55,177. A buy stop order is placed so that if this price is reached, the order converts to a market order to buy. This type of strategy is useful for prolonged periods of consolidation when a breakout is imminent. Additionally, shorter-term traders will implement this strategy around major news events.

Litecoin Price LTC, Market Cap, Charts, and Info

There are also some technical differences between both currencies. Litecoin, for example, uses a PoW mechanism based on a Scrypt hashing function, unlike Bitcoin, which uses the SHA-256 algorithm. Aside from that, the mining difficulty for Litecoin changes every 3.5 days . Litecoin (Ł) is a is a рееr-tо-рееr сrурtосurrеnсу аnd open ѕоurсе software project.

Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering atCoinbase, Charlie Lee. Litecoin was the first to alter Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin’s 10 minutes. Every effort is employed to ensure accuracy of exchange rates and information relating to money transfers. However, we do not offer any financial advice or recommendations. We will not be held liable for inaccurate exchange rates or any data at Before you make a foreign currency transaction seek the professional advice of a bank, currency exchange office, or forex broker. Litecoin is designed to operate very similarly to Bitcoin, expect with faster transactions and a mining process that is more difficult to create cost-effective specialized hardware for. Therefore, Litecoin is seen as a more user-friendly version of Bitcoin intended for smaller scale users, both in terms of transactions and mining.

About Litecoin Price History in India

Charts provide a simple, graphic depiction of market activity for easy reference. When trading on CEX.IO, you can always be confident that prices are determined by the market only. Whether you trade LTC/USD or any other pair, traders are the only ones who set the price. Read more about charles schwab address for wires here. Striving for complete transparency, we’ve created a platform where the market is the only factor that influences the LTC price.

Due to the fact that the Litecoin network grows at a steady rate, though, we are slowly marching to a point where mining will require ASIC hardware. So, although for now, GPUs will do the job, it is worth knowing that the more powerful machine you have, the better chance to earn a reward you get. Litecoin is a decentralized digital currency, with all transactions recorded on the public blockchain. It is an open source software project, similar to Bitcoin, often said to be the ‘silver’ to Bitcoin’s ‘gold’. Market watchers are observing what will the price of Litecoin be in 2025. Based on historical performance, Litecoin tracks the overall cryptocurrency market. As bitcoin price and the overall crypto market cap goes up, Litecoin tends to follow accordingly. It has a circulating supply of 71 Million LTC coins and a total supply of 84 Million. If you are looking to buy or sell Litecoin, HitBTC is currently the most active exchange. Launched in 2011, Litecoin is one of the oldest and most widely accepted cryptocurrencies.

First Mover Americas: Bitcoin Nears $24K as Citi Sees Crypto Contagion in Past Don’t Tell Zipmex

The market capitalization of a cryptocurrency is its current price multiplied by its circulating supply . CryptoRank provides crowdsourced and professionally curated research, price analysis, and crypto market-moving news to help market players make more informed trading decisions. If you’re looking for a set of practical and insightful crypto market information and data, we have the analytics tools to suit your business needs. Litecoin was founded with the main goal to speed up transactions, and this is a major reason for its popularity. Litecoin network’s average transaction is currently 2.5 minutes, while bitcoin achieves the same in 9 minutes.

How much will LTC be in 2030?

The price of Litecoin, according to Coin Price Forecast, is expected to rise from $266 at the beginning of 2025 to $543 at the end of 2030.

Depending on the amount you are willing to spend, you will be able to choose from contracts that differ in terms of cost, longevity, equipment, payouts, etc. After you’ve chosen your package, it’s time to find a mining pool. Make sure to compare all the options and choose the one that suits your needs. A block of Litecoin transactions is verified every 2.5 minutes, which is four times faster, considering the 10-minute interval for blocks on the Bitcoin blockchain. At the time of this writing, the reward of mining a block is 12.5 LTC. However, it halves with every 840,000 mined coins, so the next step is 6.25 LTC per block. The process will continue at regular intervals until the 84,000,000th LTC is mined. The primary function of Litecoin is to work as a digital payment system. Similar to PayPal, the network can be used to transfer funds easily. However, instead of using traditional currency like the USD, transactions are executed in Litecoins.

Regarding security, the Litecoin network is no different from the one of Bitcoin. The only way it can be hacked is via a 51% attack (when one node controls 51% of the network), which is close to impossible. The last difference between Bitcoin andLitecoin is the mining algorithm . Long term indicators fully support a continuation of the trend.
For this reason, many features of Bitcoin and Litecoin are the same, though some other aspects that the development team felt could be improved have been adapted and changed. The Holdings Calculator permits you to calculate the current value of your gold and silver. An entity that is not established in the EU or regulated by an EU National Competent Authority. The entity falls outside the EU regulatory framework i.e.MiFID IIand there is no provision for an Investor Compensation Scheme.

The Litecoin to USD exchange rate, on the other hand, may fluctuate by 5% this week. With common price retracements and bounces, traders can expect a 10% change in the LTC/USD price on a monthly basis. It was developed by Charlie Lee, a former Google employee and computer scientist. Since then, Litecoin has grown in popularity to become one of the most widely used cryptocurrencies. The “Markets” tab on the Nomics’ Litecoin page is the easiest way to find all crypto exchanges where the digital currency is trading, as well as its near real-time price and volume. You will also get a quick understanding of which of the listed venues allow you to buy LTC with fiat and which require to deposit another cryptocurrency first.

Litecoin was created in October 2011 by former Google engineer, Charles Lee. It was mainly created in order to improve upon Bitcoin, to which it differs slightly. Highest and lowest price of Litecoin is USD 59.64 and USD 56.03 respectively. Open a free, no-risk demo account to stay on top of forex movement and important events.

Can I mine litecoin on my phone?

Yes, it does work. It is possible to mine bitcoin with an android device even if you might have numerous reasons to stay away from it. Also, using a mobile phone to mine crypto coins isn't close to the way the traditional mining software or hardware works.

Liquidity providers can generate yield by providing funding to traders wanting to trade with leverage. Funding is traded on an order book at various rates and periods. A new block is generated on the Litecoin blockchain every 2.5 minutes, which is 4x as fast as Bitcoin. Unlike fiat currencies, where governments and central banks are able to print more money, there are a finite number of Litecoins.

What are Some Possible Uses of Litecoin?

The network has had 100% uptime without double spends or successful 51% attacks on its blockchain since creation. The fully diluted market value is referring to a cryptocurrency’s market cap when/if its total supply is issued. The cryptocurrency was valued at more than 184 U.S. dollars per coin during August 2021, a price that was nearly two times higher than in November 2020. Litecoin’s price was relatively volatile in recent years, revealing high price swings between months. Bitfinex offers order books with top tier liquidity, allowing users to easily exchange Bitcoin, Ethereum, EOS, Litecoin, Ripple, NEO and many other digital assets with minimal slippage. 78.19% of retail investor accounts lose money when trading CFDs with this provider. The Litecoin blockchain is able to handle higher transaction volumes than Bitcoin, due to the more frequent block generation, allowing merchants to get faster confirmation times.
The currency was created by Charlie Lee, a former Google employee and Engineering Director at Coinbase. Litecoin is his second attempt at a cryptocurrency, having launched one called Fairbrix which didn’t get off the ground due to technical problems. In 2017 Charlie sold or donated all of his Litecoins except for a few he kept as collectibles. He took the decision not to hold a significant amount of the tokens to avoid a conflict of interest. Over the last day, Litecoin has had 0% transparent volume and has been trading on 3,926 active markets with its highest volume trading pairs being . Five major South Korean exchanges announced their intentions to delist Litecoin . The cryptocurrency recently implemented an update to improve its privacy and scalability features. Please also note that data relating to the above-mentioned cryptocurrency presented here are based on third party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind.

He is a Google alum, formerly working as a software engineer for the search giant. Since then, and after creating Litecoin, Lee has also worked at Coinbase as the director of engineering from 2015 through 2017. Available supply or circulating supply is the best approximation of coins or tokens in circulation and publicly available. There are currently 70,794,931 Litecoin coins circulating out of a max supply of 84,000,000. It’s hard to say where the Litecoin price will be in five or ten years. The problem it seems is that, apart from longevity, Litecoin doesn’t really do anything special. Another interesting design of Litecoin, one that may help to explain the difference between the BTC and LTC price, is the number of possible coins. As everyone knows, there will only ever be 21 million Bitcoin.
lite coin to usd chart
Altcoins like Litecoin are coming to the foreground of the cryptocurrency market as trusted alternatives to Bitcoin. The community shows increasing interest in trading LTC to USD and vice versa. If you are also one of those who want to jump on the bandwagon, it’s extremely important to find a reliable exchange with transparent prices to make the most of your trading. Since 2013, our cryptocurrency exchange platform has been one of the leaders in the industry. One of our distinguishing features is the reputation we’ve earned as a fair service provider. We’ve created a transparent marketplace where anyone who wants to convert Litecoin to USD will get attractive trading conditions. The live price of Litecoin is $ 56.46 per (LTC / USD) today with a current market cap of $ 4.00B USD. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.

Founder Charlie Lee sold his entire holding of Litecoin on 20th December 2017, with the intention to remove any perceived conflict of interest and to deliver a truly decentralized cryptocurrency. Trading API Automate your cryptocurrency trading with reliable and stable API. Mobile App Buy, sell, earn and exchange crypto anywhere and anytime. To distinguish it from other dollar-based currencies, it is designated with the symbol $ or US$.
The transaction confirmation time taken for Litecoin is about 2.5 minutes on average (as compared to Bitcoin’s 10 minutes). The Litecoin network is scheduled to cap at 84 million currency units. Here you can track the daily opening, high, low, and close, along with volume and percentage change. Today, as per Coinbase, the price of Litecoin is ₹ 4,496.3, with a daily change of -2.76%. All investments involve the risk of loss and the past performance of a security or a financial product does not guarantee future results or returns. Volume 24h is referring to the total amount of a cryptocurrency traded in the previous 24 hours. In the last 24 hours, Litecoin was most traded on Binance, OKX, and ZT. The most traded Litecoin pairs in the last 24 hours are LTC/USDT, LTC/USD, and LTC/BTC. Faster blocks means transactions are settled faster, making Litecoin more suitable for day to day purchases. At least, that’s what some people in the crypto community say.
Litecoin is described as a peer-to-peer virtual currency fueled by the Litecoin blockchain. Litecoin’s blockchain is a decentralized open source, a global payment network that is fully decentralized, removing intermediary control, as enjoyed by banks, central banks, and governments. Approximately every 2.5 minutes, the Litecoin network generates a new block with transactions of Litecoin. If you are looking to invest in this technology for the long-run, then a diversified approach may be best. Different cryptocurrencies have differing features and potential benefits, and some may be more successful than others. Diversification is the key to successful investing, as it can potentially assist in the mitigation of risk, while also potentially smoothing out portfolio volatility. It may, therefore, be wise to consider a number of cryptocurrencies when making a long-term investment in this arena. Short-term traders may prefer shorter time frames, such as 1 minute, 5 minute or 15 minute charts. Long-term investors, on the other hand, may prefer much longer time frames such as daily, weekly or monthly charts.

LTC Price Analysis: Bearish Investor Sentiment Roils Litecoin Price – Cryptocurrency News – The Market Periodical

LTC Price Analysis: Bearish Investor Sentiment Roils Litecoin Price – Cryptocurrency News.

Posted: Wed, 13 Jul 2022 07:00:00 GMT [source]

Securities are offered to self-directed customers by Open to the Public Investing, Inc. (“Open to the Public Investing”), a registered broker-dealer and member of FINRA & SIPC. Additional information about your broker can be found by clicking here. Open to Public Investing is a wholly-owned subsidiary of Public Holdings Inc. (“Public Holdings”). This is not an offer, solicitation of an offer or advice to buy or sell securities, or open a brokerage account in any jurisdiction where Open to the Public Investing is not registered. Securities products offered by Open to the Public Investing are not FDIC insured. While Lee remains on the board of directors at the Litecoin Foundation, the foundation’s board also includes Xinxi Wang, Alan Austin, and Zing Yang. It’s organized as a non-profit that collaborates in tandem with the Litecoin Core Dev team to strengthen and grow the Litecoin network. Affectionately nicknamed « Chocobo, » Lee also has experience outside the crypto industry.
lite coin to usd chart
Own 30+ cryptoassets on an easy-to-use platform, and share in the knowledge of 25m+ users. Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. Get full access to all features within our Corporate Solutions. That has helped to make Litecoin easier to mine for the average person, however, large mining operations still hold a majority of the hashpower. Fixing this problem is incredibly difficult and even Monero, which to throw off ASIC miners, still hasn’t quite solved it. A few changes were made but by and large, Bitcoin and Litecoin are built on the same code. So just as there have been no glaring flaws that have crippled Bitcoin, Litecoin has not had any major problems either. Make a deposit via any funding method you prefer to start trading with real money on NAGA.

  • Faster blocks means transactions are settled faster, making Litecoin more suitable for day to day purchases.
  • Discover more about our most advanced Algorithmic orders types.
  • Cryptocurrency has been widely regarded since 2009 by those who understand it as revolutionary in the history of banking and digital network collaboration.
  • LTC price history includes peaks intersected by long periods of sideways activity.
  • For this reason, many features of Bitcoin and Litecoin are the same, though some other aspects that the development team felt could be improved have been adapted and changed.

Once you have a wallet address, you will be able to send and receive Litecoins. Before the transaction is finalized, though, it should be verified as legitimate by the network . Although this doesn’t happen instantaneously, it is way quicker than Bitcoin transactions. Litecoin improves the speed of transactions set in the Bitcoin protocol by allowing for faster transaction confirmation times. Although it is based on the same open-source code that powers Bitcoin, it has some adjustments that enable block generation that is four times faster.