Litecoin is a type of cryptocurrency that was created in 2011 as a fork of the Bitcoin network. Like Bitcoin, Litecoin is a decentralized, peer-to-peer digital currency that can be used to send and receive payments without the need for a central authority. Litecoin uses a different proof-of-work algorithm than Bitcoin, which allows it to be mined more efficiently using consumer-grade hardware. Litecoin also has faster transaction times and lower fees than Bitcoin, which makes it attractive for small transactions and everyday use.

Litecoin

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