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Is there a lightweight client like Multibit available for Litecoin? If not, is one in development?

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For a desktop computer, no, there's no lightweight client yet. There is talk of developing one, but it's not released yet. The LTC blockchain isn't as large as BTC's, so it's not as necessary on PCs.

For Android, there's a Litecoin Wallet that is a lightweight client.

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There is a wallet called Electrum LTC.

There are versions for Windows, Linux and OS X.

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