A little on Litecoin

Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee in 2011. Often referred to as the "silver to Bitcoin's gold," Litecoin shares similarities with Bitcoin but offers some distinct features. It utilizes a proof-of-work consensus algorithm, like Bitcoin, but uses the Scrypt hashing function, making it more memory-intensive and resistant to ASIC mining. With a faster block generation time of 2.5 minutes compared to Bitcoin's 10 minutes, Litecoin aims to provide quicker transaction confirmations. Its total supply is capped at 84 million coins, four times more than Bitcoin, fostering scarcity. Litecoin also introduced Segregated Witness (SegWit) before Bitcoin, enhancing scalability and enabling the implementation of the Lightning Network for faster and cheaper transactions.
Despite facing competition from various altcoins, Litecoin remains relevant due to its established history, community support, and commitment to technological innovation. It continues to serve as a viable option for users seeking fast, low-cost transactions within the cryptocurrency space.