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.
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.
