Litecoin (LTC) is a peer-to-peer cryptocurrency created in 2011 by Charlie Lee as a lighter and faster alternative to Bitcoin. It uses a Scrypt-based Proof-of-Work (PoW) algorithm, which enables quicker block generation and lower transaction fees compared to Bitcoin.

LTC is primarily used for payments, remittances, and as a medium of exchange, offering faster confirmation times and increased transaction throughput. Often referred to as “silver to Bitcoin’s gold,” Litecoin is widely supported across exchanges, wallets, and payment processors, making it one of the longest-standing and most reliable cryptocurrencies in the market.