What Is Litecoin (LTC)?

Litecoin (LTC) is a cryptocurrency created from a fork of the Bitcoin blockchain in 2011. It was initially designed to address the developer's concerns that Bitcoin was becoming too centrally controlled and to make it more difficult for large-scale mining firms to gain the upper hand in mining. While eventually unsuccessful in preventing enterprise miners from taking over the lion's share of Litecoin mining, the cryptocurrency has reworked itself into a minable coin and a peer-to-peer payment system.

History of Litecoin (LTC)

In 2011, Bitcoin was becoming more popular with enterprise-sized miners because of its potential price appreciation. It appeared that businesses were going to take control of mining because it was quickly becoming computationally unfeasible for individuals to participate. $LTC