Litecoin (LTC) is a P2P and open source project invented by Charlie Lee in 2011. The LTC token resembles Bitcoin in many ways, but has many distinct differences which has led market enthusiasts to dub it the silver to Bitcoin’s gold. 

Litecoin is a division of Bitcoin Core, and has a block generation time that is a quarter of Bitcoin’s, at 2.5 minutes and 4 times as many max tokens at 84 million tokens. It uses a different hashing algorithm that is more taxing of memory. 

Its mining algorithm necessitates processes to take place serially. The intention was to make mining as decentralized as possible, i.e. it makes the power to purchase expensive hardware less of a factor in determining mining capacity. Litecoin is a financially lucrative substitute to the number 1 token in this regard.

LTC continues to be one of the most discussed and monitored cryptocurrencies still, years after its launch, a distinction not shared by many other cryptocurrencies. The quicker transaction processing times has led some analysts to believe that Litecoin will be a better alternative to Bitcoin in real-world applications.

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