What: Litecoin (LTC) is a cryptocurrency that is very similar to Bitcoin, but has some important differences. LTC is designed for fast payments.
Why: The Bitcoin network has slowed down over time and transaction fees have increased. Litecoin was created to improve Bitcoin's transaction speed and offer lower transaction fees.
How: Litecoin is based on Bitcoin's core technology but with some changes implemented. One of them is that the block creation time is shorter than Bitcoin. In this way, transaction speeds increase.
Who: Charlie Lee created Litecoin in 2011. Lee was an early investor in Bitcoin and aimed to improve Bitcoin.
When: Litecoin was launched in October 2011.
Whom it is for: Litecoin is of interest to investors and users looking for a fast and low-cost alternative to Bitcoin. It can also be used to purchase goods and services online.$$
In short: Litecoin is a cryptocurrency designed as an alternative to Bitcoin with faster transaction speeds and lower fees.
