Litecoin (LTC) is a cryptocurrency created in 2011 by Charlie Lee, a former Google engineer. It was designed to be a "lite" version of Bitcoin, with faster transaction times and lower fees.
Litecoin is a peer-to-peer cryptocurrency, meaning that transactions are processed directly between users, without the need for a central authority. It uses a proof-of-work consensus mechanism, which means that miners compete to solve complex mathematical problems in order to validate transactions and add them to the blockchain.
Litecoin has a number of advantages over Bitcoin, including faster transaction times, lower fees, and a larger supply of coins. It is also more resistant to ASIC mining, which makes it more decentralized.
However, Litecoin is not as widely accepted as Bitcoin, and it has a smaller market capitalization.
Litecoin is a promising cryptocurrency with a number of advantages over Bitcoin. It is a good option for those who are looking for a fast, cheap, and decentralized cryptocurrency.
