Lite Coin - A decentralized coin
Lite coin (LTC) is a decentralized, peer-to-peer cryptocurrency created in 2011 as a fork of Bitcoin. Developed to support faster and more cost-effective digital transactions, it was one of the first altcoins introduced to the market. The network continues to operate independently using its own blockchain while maintaining many of the structural features of Bitcoin.
One of Lite coin’s core differences lies in its use of the Scrypt algorithm, which offers a distinct approach to mining and network security compared to Bitcoin’s SHA-256 algorithm. This difference contributes to Lite coin's faster block generation time and generally lower transaction fees.
The project was founded by Charlie Lee, a former Google engineer, who aimed to make blockchain-based payments more efficient for everyday use. Lite coin has remained active through multiple market cycles and continues to be used for direct payments and cross-border transactions. #LTC $LTC
