Launched in 2011 by Charlie Lee, Litecoin was designed to complement Bitcoin by offering faster transaction times and a more scalable blockchain. Utilizing the Scrypt mining algorithm, Litecoin processes blocks every 2.5 minutes, compared to Bitcoin’s 10 minutes, resulting in quicker transaction confirmations. Its blockchain technology includes features such as Segregated Witness (SegWit) and the Lightning Network, enhancing its transaction capabilities. $LTC
Litecoin's commitment to innovation is evident in its adoption of the MimbleWimble Extension Block (MWEB) in May 2022, allowing for optional privacy in transactions. As of August 2024, more than 89% of its maximum supply of 84 million coins is in circulation. $LTC
