$LTC refers to Litecoin a cryptocurrency that was created by Charlie Lee in 2011 as a lighter version of Bitcoin It operates on a decentralized peer to-peer network and uses the Scrypt hashing algorithm which differs from Bitcoins SHA-256 algorithm Litecoin is designed to offer faster transaction confirmation times and a different proof of work algorithm making it more accessible to users with less powerful hardware
Litecoin has become one of the top cryptocurrencies by market capitalization and is often seen as a silver alternative to Bitcoins gold It can be traded on most cryptocurrency exchanges and is used in a variety of applications, such as online payments, remittances and as a store of value.
