$LTC is a peer-to-peer cryptocurrency created in 2011 by Charlie Lee as an alternative to Bitcoin. It shares many similarities with Bitcoin but offers faster transaction times and lower fees. Litecoin is often referred to as the "silver to Bitcoin's gold."

Litecoin uses a different proof-of-work algorithm called Scrypt, which makes it easier for users to mine with consumer-grade hardware compared to Bitcoin's SHA-256. This has helped Litecoin maintain a broad, decentralized mining community.

Litecoin’s transaction block time is around 2.5 minutes, significantly faster than Bitcoin’s 10-minute block time, making it a preferred choice for those seeking quicker transaction confirmations. The total supply of Litecoin is capped at 84 million coins, four times the limit of Bitcoin.

Over the years, Litecoin has been widely adopted by merchants and integrated into various payment systems, becoming one of the most popular cryptocurrencies in terms of market capitalization.