Łitecoin Black is a peer-to-peer cryptocurrency and open source software project released by a group of crypto miners, fans, gamers and developers.
Creation & transfer of coins are based on an open source cryptographic protocol and is not managed by any central authority. While inspired by, and is technically nearly identical to Łitecoin (LTC), Łitecoin Black has some technical improvements over Łitecoin.
These effectively allow a greater amount of transactions to be processed by the network in a given time, reducing potential bottlenecks, as seen with other crypto-currencies. Łitecoin Black also has a near zero payment cost and facilitates payments approximately four times faster than Bitcoin.