What is Litecoin
Litecoin is one of the oldest cryptocurrencies on the market. It was created by Google developer Charlie Lee, co-coder of megaprojects such as YouTube, Google Play, and Chrome OS. It is not surprising that in 2011 Charlie managed to create his cryptocurrency, and at the same time - one of the largest crypto exchanges in the world, Coinbase.
However, Litecoin occupied a special place in Charlie's heart. Therefore, after some time, he nevertheless left Coinbase to devote himself to a coin with a source code based on Bitcoin Core entirely. Along with a group of developers, Charlie took the reference base but replaced several elements and made improvements, such as increased speed of block generation and transaction processing. Litecoin also began to apply new hashing algorithms, and the transaction fee dropped to zero. With the help of the global payment network, you can freely transfer money to any person in any country in the world. The ecosystem is entirely open source and is not subject to any central authority. Users are also pleased with the speed of transactions: after sending, the money appears on the recipient's wallet within a few minutes. For comparison, the same operation takes up to 15 minutes in the Bitcoin network.
Now LTC is one of the TOP-5 cryptocurrencies globally, which is adjacent to Bitcoin, Ethereum, Ripple, and Bitcoin Cash on Olympus.