What is Litecoin (LTC)

Litecoin is the silver of crypto. It is very similar in function and technical details to Bitcoin. Charlie Lee forked Bitcoins codebase and released it as Litecoin in 2011 with some important changes. It has shorter blocktimes (2.5 minutes vs Bitcoins 10 minutes), more coins and uses the scrypt algorithm for mining. It was designed to be ASIC resistant but many Litecoin miners are now available on the market. It supports segwit, the lightning network, and also cross chain atomic swaps with other supported coins. Merchants can use Litepay to accept Litecoin and then receive fiat.