$LTC **LTC** refers to **Litecoin**, a popular cryptocurrency that was created by Charlie Lee in 2011. It is often considered the "silver" to Bitcoin's "gold." Litecoin is a peer-to-peer decentralized digital currency that is based on the same underlying technology as Bitcoin but with some key differences aimed at improving transaction speed and efficiency.

### Key Features of Litecoin (LTC):

1. **Faster Transactions**: Litecoin offers faster transaction confirmation times compared to Bitcoin. The block generation time for Litecoin is 2.5 minutes, compared to Bitcoin's 10 minutes.

2. **Lower Fees**: Litecoin generally has lower transaction fees compared to Bitcoin, making it a more affordable option for smaller transactions.

3. **Scrypt Algorithm**: Litecoin uses a different proof-of-work algorithm called **Scrypt**, while Bitcoin uses **SHA-256**. This makes Litecoin mining somewhat more accessible, though ASIC (Application-Specific Integrated Circuit) miners are also used to mine Litecoin.

4. **Limited Supply**: Like Bitcoin, Litecoin has a maximum supply limit of 84 million coins, four times the number of Bitcoin's 21 million.

5. **Decentralization**: It remains decentralized and operates on a blockchain, just like Bitcoin, ensuring security and transparency in transactions.

6. **Widespread Acceptance**: Litecoin is accepted by many merchants and platforms, and it can be traded on most major cryptocurrency exchanges.

### Why People Use Litecoin (LTC):

- **Faster Transactions**: For individuals or businesses looking for faster transaction processing times compared to Bitcoin, Litecoin can be a preferable option.

- **Store of Value and Payments**: Many consider Litecoin both a store of value and a means of payment, especially for smaller transactions.

- **Lower Transaction Fees**: Because of the low transaction fees, Litecoin is often used for everyday transactions, especially when sending smaller amounts.