Litecoin (LTC) is a cryptocurrency that was launched (LTC)
Litecoin, which debuted in 2011, was one of the first cryptocurrencies to follow in Bitcoin’s footsteps and dubbed the “silver to Bitcoin’s gold.” Charlie Lee, an MIT graduate and former Google engineer, designed it. Litecoin is based on an open-source global payment network that is not managed by any central authority and employs the “scrypt” proof of work, decoded using consumer-grade CPUs. While Litecoin is similar to Bitcoin in several respects, it has a faster block generation rate and faster confirmation time for transactions. An increasing number of retailers, in addition to developers, support Litecoin. In the year 2021, Litecoin was the world’s sixth-largest cryptocurrency, with a market cap of $10.1 billion and a per token value of $153.88 world’s sixth-largest cryptocurrency.