The LTC coin is short for Litecoin, one of the oldest and most popular cryptocurrencies after Bitcoin. Here is an overview:
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✅ What is Litecoin (LTC)?
Litecoin is a cryptocurrency launched in 2011 by software engineer Charlie Lee, aiming to be the "silver" to Bitcoin's "gold."
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🔧 How does it work?
Litecoin relies on blockchain technology.
It uses the Scrypt algorithm instead of SHA-256 (used in Bitcoin), making its mining faster.
Block confirmation time: every 2.5 minutes (faster than Bitcoin which takes 10 minutes).
Maximum supply: 84 million LTC (compared to only 21 million for Bitcoin).
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⚙️ Features of Litecoin:
1. Transaction speed: Faster payment confirmations compared to Bitcoin.
2. Low fees: Suitable for small and daily payments.
3. Decentralization and Security: Relies on a robust blockchain network.
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💡 What are the uses of Litecoin?
Online payments or in stores that accept cryptocurrencies.
International transfers are faster and cheaper than traditional banks.
Investing and trading on crypto platforms.
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📈 Is Litecoin still relevant?
Yes, despite the emergence of newer coins, Litecoin remains a well-known currency with high liquidity, supported by most wallets and trading platforms, including Binance and Coinbase.
