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About Litecoin
Litecoin (LTC) is a decentralized peer-to-peer cryptocurrency and open-source software project launched in October 2011 by Charlie Lee. Developed as a fork of the Bitcoin protocol, it is often referred to as the 'silver' to Bitcoin's 'gold.' Litecoin was designed to provide fast, secure, and low-cost payments, featuring a block generation time of 2.5 minutes—four times faster than Bitcoin—and a total capped supply of 84 million coins. It utilizes the Scrypt proof-of-work hashing algorithm, which was initially intended to be more memory-intensive and resistant to ASIC mining compared to Bitcoin's SHA-256. As one of the earliest and most prominent altcoins, Litecoin has served as a primary testing ground for significant technological implementations such as Segregated Witness (SegWit), the Lightning Network, and MimbleWimble via extension blocks.
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