Litecoin (LTC) is a well – known decentralized peer-to-peer cryptocurrency that was released at the end of 2011. It was made to be a faster, but similar version of Bitcoin. The creator of LTC is the computer engineer Charlie Lee. He is one of Google’s software engineers. The main differences between Litecoin and Bitcoin are in the transaction speed and the targeted group of computer machines. LTC’s transaction speed is 2.5 minutes on average which is faster than Bitcoin’s 10 minutes speed. The algorithm Scrypt targets regular GPUs and computers most people can afford. The consensus system is the mineable Proof of work one. The maximum coin supply is 84 million LTC – 63 million more than what Bitcoin can offer.

The price of the first Litecoin was $4.18, but a few days after its release it fell to $2.07. The amount was slowly starting to rise. The highest recorded value per 1 Litecoin is $255.42. LTC is slow but dependable, and in 2017 it took the first place of the top 5 cryptocurrencies to implement the SegWit scaling solution. 

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