Litecoin (LTC)
- Official Website: litecoin.org
- Definition: Litecoin is a peer-to-peer cryptocurrency created as a “lighter” version of Bitcoin.
- Category: Blockchain, Layer 1 chain, Cryptocurrency.
- What It Is: A faster and cheaper alternative to Bitcoin for everyday transactions.
- Function: Used for payments, remittances, and as a store of value.
- Analogy: Think of Litecoin as silver to Bitcoin’s gold. It’s lighter, faster, and more practical for small transactions.
- Pros: Fast transactions, low fees, strong security.
- Cons: Limited use cases, competition from other payment-focused cryptos.
- Controversies: Criticism of lack of innovation, declining relevance.
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This page was last updated on January 28, 2025.
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