Litecoin (LTC) is a decentralized, open-source cryptocurrency created in October 2011 by Charlie Lee, a former Google employee. Developed as an alternative to Bitcoin, Litecoin aims to offer faster transactions and lower costs, and is often referred to as the "digital silver" compared to the "digital gold" that is Bitcoin.
One of the main differences between Litecoin and Bitcoin is the block generation time. While Bitcoin has an average block generation time of 10 minutes, Litecoin reduces this time to approximately 2.5 minutes, allowing for faster transaction confirmations. In addition, Litecoin uses the Scrypt mining algorithm, which, unlike Bitcoin's SHA-256, allows less powerful computers to participate in the mining process.
Litecoin has a maximum limit of 84 million coins, four times higher than Bitcoin. Currently, around 75 million Litecoins have been mined. The cryptocurrency is widely accepted as a means of payment, with over 2,000 merchants and stores around the world accepting LTC.
In terms of price, Litecoin has shown significant fluctuations over time. At the moment, the price of Litecoin is approximately $100.34, with a variation of -2.84% compared to the previous close. The highest value ever recorded was €402.96.
To store Litecoin safely, it is recommended to use reliable digital wallets, such as those offered by Ledger.
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