Litecoin is a blockchain-based cryptocurrency designed to provide quick, safe, and cheap payments for users worldwide. Litecoin based its system on the famous Bitcoin protocol. However, they modified core operations such as hashing, caps, and transaction speed. Block processing in this platform takes only 2.5 minutes, meaning that it is beneficial for small transactions and merchant payments.
Litecoin was created to be the “lighter version of Bitcoin,” according to its maker, Charlie Lee. Since its launching on October 13, 2011, it has gained reputation and fame in the crypto space. Its simple, pure, and straightforward operation makes it a token loved by many users. Due to this, over 3000 stores around the world accept Litecoin as a payment option.
Today, this token continually grows as time passes by. Yes, this currency might have taken inspiration from Bitcoin, but it already has the potential to stand on the same podium as its predecessor. As more investors and traders take an interest in this cryptocurrency, it will surely be a stable and strong powerhouse in the crypto space.