Litecoin was invented by Charlie Lee in 2017 with a specific objective in his mind. The cryptocurrency is quite close to Bitcoin, although some key differences make this blockchain-based project different from BTC. The primary benefit of Litecoin (LTC) is its high speed and affordability, which makes this cryptocurrency extremely useful in carrying out transactions. There is no time delay in settlement of the payment and virtually transactions can be completed without any transaction fee. Although Litecoin can’t match the speed and affordability of Ripple, it is still a much better option compared to Bitcoin in terms of transaction speed and affordability.
Litecoin blockchain adds a new block every 2.5 minutes while in case of Bitcoin, the new addition takes 10 minutes. Further, the use of script in the proof-of-work consensus protocol makes the mining process of Litecoin easy for the users who work on a normal personal computer. It is also important to note that Litecoin is among the very first cryptocurrencies which went ahead with the adoption of SegWit.
News on Litecoin is a regular affair in the cryptocurrency industry and the popularity of the coin can be estimated from the fact that it is ranked 6th in the crypto market in terms of total capitalization. Litecoin price news often relates to the dynamic nature of cryptocurrency, with most of the latest Litecoin news often revolves around the gains or losses that the digital coin makes on a daily basis.