Info of Litecoin
LTC, or Litecoin, is a peer-to-peer cryptocurrency and open-source software project that was launched in 2011 by Charlie Lee, a former Google engineer. LTC is inspired by Bitcoin, the first and most popular cryptocurrency, but has some technical differences that aim to improve its speed, scalability, and accessibility.
Litcoin is often considered as the "silver", whereas Bitcoin is "gold", as it offers a faster and cheaper alternative for everyday transactions. LTC can process a block of transactions in 2.5 minutes, compared to Bitcoin's 10 minutes, and has a lower transaction fee. LTC also has a higher coin supply, with a maximum of 84 million LTC, compared to Bitcoin's 21 million. LTC uses a different hashing algorithm, called Scrypt, which is more resistant to specialized mining hardware and allows more users to participate in the network.
Litcoin is one of the oldest and most established cryptocurrencies, with a loyal and active community of users and developers. LTC is constantly evolving and innovating, thanks to the feedback and input of its creator and the LTC Foundation, a non-profit organization that supports the development and adoption of cryptocurrency. LTC has implemented many upgrades and features that enhance its performance and security, such as SegWit, which reduces transaction size and increases throughput, and MWEB, which adds optional privacy and fungibility to the network. LTC also collaborates with other projects and platforms in the blockchain ecosystem, such as Bitcoin, Ethereum, and Cardano, to create more value and opportunities for its users.
Litcoin has a strong market presence and influence, as it is among the top 15 cryptocurrencies by market capitalization. LTC is also widely accepted and supported by many platforms, exchanges, and merchants.