What is 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.