$ETH Litecoin (LTC) is a cryptocurrency created in 2011 by Charlie Lee, a former Google engineer. 1 It was designed to be a "lite" version of Bitcoin, with faster transaction times and a larger supply of coins. 2 Litecoin is a peer-to-peer, decentralized cryptocurrency, meaning that it is not controlled by any single entity. 3 It uses a proof-of-work consensus mechanism to verify transactions and secure the network. 4 Litecoin has gained popularity as a fast and efficient way to send and receive payments, and it is now accepted by many merchants and businesses around the world. 5