$LTC LTC, or Litecoin, is a decentralized peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license.

Key Features

1. *Decentralized*: Litecoin operates independently without a central authority or intermediary.

2. *Limited Supply*: The total supply of LTC is capped at 84 million.

3. *Fast Transactions*: Litecoin's block time is 2.5 minutes, allowing for faster transaction processing compared to Bitcoin.

4. *Low Fees*: Transaction fees are significantly lower than those of Bitcoin.

5. *Scrypt Hash Function*: Litecoin uses the Scrypt hash function, which is different from Bitcoin's SHA-256.

Uses

1. *Payments*: LTC can be used for online and offline transactions.

2. *Investment*: Many investors buy and hold LTC as a store of value or for speculative purposes.

3. *Remittances*: LTC's fast transaction times and low fees make it suitable for cross-border remittances.

History

Litecoin was created by Charlie Lee, a former Google engineer, in October 2011. It was designed to improve upon Bitcoin's limitations, particularly in terms of transaction speed and fees.