Litecoin (LTC)

Posted 2026-08-16 09:57:53

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Created: In 2011 by Charlie Lee, a former Google engineer.
Purpose: Designed as the “silver” to Bitcoin’s “gold,” aiming to be a faster and cheaper alternative for everyday transactions.
Technology:
- Based on Bitcoin’s open-source code but with key modifications.
- Uses the Scrypt hashing algorithm instead of Bitcoin’s SHA-256, which allows for more accessible mining with consumer-grade hardware.
- Has a faster block generation time of 2.5 minutes (compared to Bitcoin’s 10 minutes), enabling quicker transaction confirmation.
Supply: Maximum supply capped at 84 million LTC, four times Bitcoin’s 21 million limit.
Features:
- Lower transaction fees compared to Bitcoin.
- Strong network security and decentralization.
- Often used as a testbed for new features before they are implemented on Bitcoin, such as the adoption of the Lightning Network and Segregated Witness (SegWit).
Use Cases: Widely accepted for payments and transfers, known for its speed and reliability.

Litecoin remains one of the longest-standing and most trusted altcoins in the cryptocurrency space, valued for its stability and practical improvements over Bitcoin.