stable coin
Altcoins are cryptocurrencies that are not included with Bitcoin, because at that time only Bitcoin was circulating on the market and several other coins, Altcoins were launched after Bitcoin reached its highest price so not many people could own it, and people took advantage of Altcoins from on btc. especially altcoins are also known as the best choice for all traders or investors and it can be said that the percentage of investor losses is much less than Bitcoin, and perhaps it could be called no losses at all.
Altcoins also have their own advantages and disadvantages, and who knows, sometimes altcoins work on the same principle as Bitcoin, so we have to understand altcoins one by one, but here I will explain about Litecoin.
Launched in 2011, Litecoin is an altcoin based on the Bitcoin model. This digital currency was created by Charlie Lee, an MIT graduate developer and former Google employee. The coin is based on an open source global payment network and is not controlled by any central authority.
It is slightly different from Bitcoin in some aspects, such as faster block generation and the use of the Scrypt algorithm as proof of work.
Litecoin was created to help users make daily transactions using cryptocurrency and the Proof-of-Work (PoW) consensus algorithm. Bitcoin has a longer transaction time, while Litecoin is cheaper and faster.
Although Litecoin is called the silver to Bitcoin's gold, it is worth mentioning that Litecoin borrows heavily from Bitcoin while modifying and improving most of it.
Apart from providing a perfect platform for long-term investments, Bitcoin can also be used as a store of value, while Litecoin is ideal for payment processing due to its fast transaction execution speed and low fees.