Kilocoin also know as KLC is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Inspired by and technically nearly identical to Litecoin (LTC),[1] Kilocoin creation and transfer is based on an open source protocol and is not managed by any central authority.Kilocoin is dedicated to running a clean stateless currency free of crime.Kilocoin was released via an open-source client on GitHub on March 19, 2014 by Kilocoin, Inc (DAC). It was a fork of the Litecoin-Qt client, differing primarily by having an increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a modified GUI. Kilocoin which is based on Litecoin uses scrypt technology in its proof-of-work algorithm. The use of scrypt means that miners cannot use SHA-256 Bitcoin mining equipment, and that dedicated FPGA and ASIC devices used for mining are complicated to create. Compared with other cryptocurrencies Kilocoin has a fast initial coin production schedule: there has been approximately 10 billion mined as at April 2015 Like Bitcoin and Litecoin, Kilocoin functions using public-key cryptography, in which a user generates a pair of cryptographic keys: one public and one private. Only the private key can decode information encrypted with the public key;Currently kilocoin can be exchanged for other crypto currencies