Litecoin

Litecoin is a cryptocurrency created as a lighter version of Bitcoin, often referred to as digital silver. It uses proof-of-work but with a different hashing algorithm and faster block generation times of about 2.5 minutes. This allows quicker confirmations for transactions compared to Bitcoin.

The native token, LTC, has a maximum supply of 84 million coins, emphasizing scarcity. Litecoin focuses on being a medium of exchange for everyday use with low fees. It has served as a testing ground for Bitcoin upgrades, like SegWit, due to its similarities.