Is signing litecoin transactions same process as used with bitcoin?

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Is this process for building and signing a litecoin transaction the same as the process for a bitcoin transaction? I know that litecoin has closely followed bitcoin's steps, so I expect them to be the same, or at least substantially similar.

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nikib3ro On

Differences between Bitcoin and Litecoin mostly boil down to few things:

  • Proof of work algorithm - Litecoin uses Scrypt instead of SHA-256 that's in Bitcoin. Rationale for this decision was to make mining more resistant to specialized hardware... but in practice this proved to be false (Bitmain produces miners for both Bitcoin and Litecoin that are way faster than conventional hardware).
  • Block time - Bitcoin 10 minutes vs Litecoin 2.5 minutes
  • Total supply - Bitcoin 21 million BTC vs Litecoin 84 million LTC. This directly plays off from mentioned block time - 4x faster blocks, 4x bigger supply.

Other than that, Litecoin codebase is pretty much identical to Bitcoin. It's direct fork of Bitcoin as you can tell from Litecoin's Github repository. So, yeah, you'll be signing transactions in exactly the same manner in both LTC and BTC.