Tag: Litecoin (LTC) News

Litecoin (LTC) is one of the oldest and most established cryptocurrencies. Charlie Lee launched Litecoin in 2011 as a peer-to-peer digital currency and referred to it as “the silver to Bitcoin’s gold.” It was designed to complement Bitcoin by offering faster transaction times and a different hashing algorithm (Scrypt).

It uses a proof-of-work (PoW) consensus mechanism to validate transactions, ensuring immutability and trustlessness. Litecoin’s average block time on the blockchain is approximately 2.5 minutes, allowing for faster transactions when compared with Bitcoin’s 10 minutes.

Because of its early adoption and longevity in the crypto space, Litecoin is widely accepted across various merchants and platforms globally. To know the significant developmental activities in the Litecoin ecosystem and LTC’s price movements, read from CryptoTale.