About Litecoin

Litecoin is a peer-to-peer digital currency that allows for instant and low-cost global transactions. It is open-source and fully decentralized, secured by mathematical algorithms, giving users control over their own finances. Launched in 2011 by Charlie Lee, a former Google engineer, Litecoin shares many features with Bitcoin but aims to offer faster transactions and improved efficiency. The total supply is capped at 84 million coins, with new blocks generated approximately every 2.5 minutes. Miners are rewarded with 6.25 Litecoins per block, though this reward halves periodically. Unlike Bitcoin's SHA-256, Litecoin uses the script algorithm for cryptography, contributing to quicker transaction times—about 2.5 minutes per transaction compared to Bitcoin’s 9 minutes. Litecoin’s simplicity ...