#XRPETF

It is an open-source decentralized digital currency created in October 2011 by a Google engineer. It is often referred to as "the silver of Bitcoin" as it was originally intended to be a lighter and faster version of Bitcoin ("digital gold").

The main technical characteristics of Litecoin:

Algorithm: Litecoin uses a different hashing algorithm than Bitcoin. Litecoin uses the Scrypt algorithm, while Bitcoin uses the SHA-256 algorithm. The goal of choosing Scrypt was to make mining Litecoin more resistant to specialized ASIC chips for mining SHA-256 in the early stages, allowing more individuals to use graphics processing units (GPUs) to mine it. However, ASICs for mining Scrypt also emerged later.

Block creation time: The average block creation time in Litecoin is about 2.5 minutes, which is much faster than the average of 10 minutes for Bitcoin. This means that Litecoin transactions can be confirmed more quickly.