LTC is a decentralized digital currency and blockchain network that was created in 2011 by Charlie Lee, a former Google engineer. LTC is based on the Bitcoin blockchain, but with a few key differences, including faster block generation times, a different hashing algorithm, and a larger total supply.
LTC offers various features, including decentralized governance, privacy, security, and censorship resistance. Transactions on the LTC network are verified by a decentralized network of nodes through a consensus mechanism called "proof-of-work" (PoW), which requires nodes to solve complex mathematical equations to add new blocks to the blockchain.
LTC is the native cryptocurrency used as a means of payment for transaction fees and as a reward for participating in the LTC network. The total supply of LTC is limited to 84 million, with approximately 66 million currently in circulation. LTC has a strong and active community of users, developers, and enthusiasts, with various wallets, exchanges, and merchants supporting its adoption and use.
LTC has become a widely accepted and popular digital currency, with investors and individuals using it for various purposes, including making purchases, sending remittances, and investing. The value of LTC, like other cryptocurrencies, is highly volatile and can be influenced by various factors, such as market demand, adoption, and regulatory developments.
Overall, LTC has made a significant contribution to the digital currency space, providing a decentralized and transparent alternative to traditional financial systems. As LTC continues to gain mainstream adoption and more use cases are developed, its utility and value may continue to grow in the years to come.