What is litecoin cryptocurrency?

If any crypto currency is very popular in the market after bitcoin and XRP currency, then it is Lite coin. It is only a type of crypto currency. Which can be used only in digital form.

Litecoin works like any other payment system. That is, we can send our money to any person very easily, like we send money to another person through applications like phone pay, Google pay, PayPal etc. In the same way, with the help of this currency, we can send money to any person.

It carries out all its transactions using blockchain. Due to this work, it has made a different identity in the whole world.

Litecoin (LTC) is a peer-to-peer cryptocurrency that was set up by Charlie Lee (a former Google employee) in 2011. It shares many similarities with bitcoin and is based on bitcoin’s original source code. Litecoin was designed to be used for cheaper transactions and to be more efficient for everyday use. In comparison, bitcoin was being used more as a store of value for long-term purposes. The coin limit market cap is much higher on litecoin than bitcoin, and the mining process far quicker. This means transactions are faster and cheaper, although generally smaller in size.

Like bitcoin, litecoin is a form of digital money. Utilizing blockchain technology, litecoin can be used to transfer funds directly between individuals or businesses. This ensures that a public ledger of all transactions is recorded, and allows the currency to operate a decentralized payment system free from government control or censorship.