$LTC

Litecoin (LTC) is a decentralized cryptocurrency created by Charlie Lee in 2011 as a faster and more scalable alternative to Bitcoin. Built on Bitcoin’s codebase, Litecoin offers lower transaction fees and quicker block generation times, making it a preferred choice for everyday transactions.

With a block time of 2.5 minutes, compared to Bitcoin’s 10 minutes, Litecoin processes transactions more efficiently. It uses the Scrypt hashing algorithm, which makes it more accessible to miners using consumer-grade hardware. The total supply of Litecoin is 84 million coins, four times that of Bitcoin, ensuring a steady issuance over time.

Litecoin is widely adopted for payments, supported by numerous merchants and payment processors worldwide. It also serves as a testing ground for Bitcoin improvements, such as the Lightning Network and Segregated Witness (SegWit), which enhance scalability and transaction speed.

Despite competition from newer cryptocurrencies, Litecoin remains a strong player in the crypto market, offering a balance of security, speed, and affordability for users and investors.