Litecoin was created in 2011 by Charlie Lee, a former Google employee who became interested in cryptocurrency. He originally created Litecoin as a fork of Bitcoin to improve upon the original by increasing its block generation rate and removing some features that he felt were unnecessary (such as Segregated Witness). This meant that transactions could be confirmed more quickly than they could with Bitcoin, making it easier for merchants to accept LTC as payment.

Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Litecoin is a fork of Bitcoin, sharing its history up until the block where SegWit was activated on Bitcoin. After that point, the two networks diverged as Litecoin continued without adopting SegWit or other features that would make transactions cheaper and faster on Bitcoin. The most important takeaway from this section is that litecoin is an open source project with many developers working on it around the world.

Litecoin can be thought of as an improved version of Bitcoin. It has faster transaction times and lower fees than Bitcoin, and it also uses scrypt instead of SHA-256 for its proof-of-work algorithm.

Scrypt was originally designed by Colin Percival (who later went on to work at Bittorrent). It's less intensive than SHA-256; this means that miners can generate more hashes per second with less power consumption, making it better suited for GPU mining rigs than ASICs (Application Specific Integrated Circuits).

Litecoin is a decentralized, open-source cryptocurrency that enables instant payments to anyone in the world and that can be efficiently mined with consumer-grade hardware.

The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin. This means that Litecoin can process payments much faster than Bitcoin. Transaction wise, it can be bought, sold, mined and exchanged much like many others on the Crypto Market.

Litecoin has a miner's reward system, giving incentive to continue work on the project. From their website (https://litecoin.org/):

"Miners are currently awarded with 12.5 new litecoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks).
The Litecoin network is therefore scheduled to produce 84 million litecoins, which is 4 times as many currency units as Bitcoin."

As the price of Litecoin has increased, many people believe that it will continue to rise in value. The LTC community is strong and believes in the future of Litecoin. It's also important to note that there are many supportive developers who work on Litecoin, which means this cryptocurrency won't be going away anytime soon.

Litecoin is based on the blockchain technology and uses decentralized networks for transactions. The main difference between Litecoin and Bitcoin (which we talked about earlier in this article) is that it has faster verification times and lower transaction fees than its competitor does. As much as its features are well rounded, and utility being solid, the attention thrown to this OG crypto coin is still going strong.