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What is Litecoin?

Litecoin (LTC) is a decentralized, open-source payment network, or cryptocurrency. It allows you to receive, store, and send money to other people. It’s one of the three largest cryptocurrencies, together with Bitcoin (BTC) and Ethereum (ETC). Litecoin was designed to improve on many of the perceived failings of Bitcoin and to be the silver to Bitcoin’s gold. To this end Litecoin has a cap of 84 million tokens, this is in comparison to the 21 million capitalization used by Bitcoin. It also has a block generation time of  2.5 minutes compared to Bitcoin’s 10. The aim was to make Litecoin easier to obtain and trade than Bitcoin.

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