Litecoin was launched in 2011 as the main competitor to Bitcoin, promising both low transaction costs and high speed. These parameters made this cryptocurrency an excellent option for making purchases in stores and microtransactions. Litecoin was created as a fork of Bitcoin and does not deny almost familial ties: the founder of LTC, Charlie Lee, called his brainchild a "light version of Bitcoin" and "silver when Bitcoin is gold." Litecoin uses the Proof-of-Work algorithm and conducts halving every four years (that is, it reduces the rate of new coin generation) — as often as Bitcoin. However, there are more Litecoins in circulation than Bitcoins.$LTC
LTC
53.41
+0.52%