$LTC Litecoin (LTC) is one of the first and most popular cryptocurrencies, created in 2011 by Charlie Lee, a former Google engineer. It is a "fork" of Bitcoin, meaning it is built on its codebase but has several key differences.
Key Features of Litecoin:
Faster Transactions – The average block generation time is 2.5 minutes (compared to 10 minutes for Bitcoin), allowing for quicker payment confirmations.
Lower Fees – Transaction fees are generally much lower than Bitcoin, making LTC convenient for microtransactions.
Scrypt Encryption Algorithm – Uses Scrypt instead of SHA-256, making LTC mining less dependent on specialized ASIC hardware and more accessible to miners.
Limited Supply – The total number of LTC is capped at 84 million coins (four times more than BTC).
Regular Updates – Litecoin supports the implementation of modern solutions such as SegWit and Lightning Network, improving scalability and efficiency.
Litecoin is often called "digital silver" alongside Bitcoin, which is seen as "digital gold." Due to its speed, reliability, and low fees, LTC remains popular in the crypto space for payments and as a store of value.
