Litecoin (LTC)

About

Litecoin (LTC) is a decentralized, peer-to-peer cryptocurrency that emerged as a fork of Bitcoin in 2011. Created by Charlie Lee, it is often referred to as "silver to Bitcoin's gold" due to its similarities and enhancements. Litecoin uses the Scrypt hashing algorithm, which is more memory-intensive and designed to prevent the dominance of specialized mining hardware like ASICs. This approach fosters a more decentralized mining environment. Litecoin offers faster transaction confirmation times, typically taking 2.5 minutes compared to Bitcoin's 10 minutes. It has a larger maximum supply of 84 million LTC, making it more scalable for everyday transactions. Litecoin is open-source and operates on a blockchain, enabling secure and transparent transactions without intermediaries. Its use cases include online purchases, remittances, and tipping, with support across various exchanges and wallets. Litecoin's technical enhancements have contributed to its role as a viable alternative to Bitcoin for faster and more affordable transactions.