Litecoin (LTC) is a popular cryptocurrency created in 2011 by Charlie Lee, a former Google engineer. Often referred to as the "silver to Bitcoin's gold," Litecoin was designed to offer faster transaction times and lower fees compared to Bitcoin. It is built on a decentralized, open-source blockchain that allows peer-to-peer payments without the need for a central authority.
One of Litecoin’s key features is its use of the Scrypt algorithm, which makes it more accessible to average users for mining, unlike Bitcoin’s more resource-intensive SHA-256. Litecoin processes a new block every 2.5 minutes, four times faster than Bitcoin, making it more efficient for everyday transactions.
Over the years, Litecoin has maintained its reputation as a stable and reliable alternative to Bitcoin. It is widely supported on exchanges and by digital wallets. With ongoing development and a strong community, Litecoin continues to play a vital role in the evolution of digital currency.
