Litecoin (LTC) is a peer-to-peer cryptocurrency created by Charlie Lee in 2011. It was designed as a “lighter” version of Bitcoin, aiming to offer faster transaction times and lower fees.Litecoin uses a different hashing algorithm called Scrypt, which allows for quicker processing and makes it more accessible for miners using regular hardware. This differs from Bitcoin, which relies on the more complex SHA-256 algorithm.Transactions on the Litecoin network are confirmed in about 2.5 minutes, compared to Bitcoin’s 10 minutes. This speed makes Litecoin an attractive option for users who want quicker transfers.Like Bitcoin, Litecoin has a capped supply, limited to 84 million coins. The total number is four times that of Bitcoin, enabling a broader distribution among users.Overall, Litecoin serves as a practical alternative for everyday transactions and continues to be supported by a strong community. Its longevity and consistent improvements have kept it relevant in the ever-evolving cryptocurrency landscape.