Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee in 2011. Often referred to as the “silver to Bitcoin’s gold,” it was designed to improve on some of Bitcoin’s limitations.Litecoin operates on a decentralized network and uses a technology called blockchain to record transactions. It employs a different hashing algorithm known as Scrypt, which makes it less resource-intensive for miners compared to Bitcoin’s SHA-256. This allows for quicker transaction confirmation times, usually around 2.5 minutes, compared to Bitcoin’s 10 minutes. The maximum supply of Litecoin is capped at 84 million coins, which is four times that of Bitcoin. This controlled supply mimics gold and enhances its scarcity. Litecoin has gained popularity for its speed and lower transaction fees, making it appealing for everyday transactions. It is widely accepted by various merchants and exchanges, further fueling its adoption and use. Overall, Litecoin remains a significant player in the cryptocurrency space, often serving as a testing ground for new features before they are implemented in Bitcoin.