Litecoin, often referred to as Bitcoin’s little sibling, has been around since 2011, created by Charlie Lee to address Bitcoin’s limitations. Despite not surpassing Bitcoin in market dominance, it remains a top 20 cryptocurrency. Its fast transactions and affordability set it apart, making it a viable digital currency for daily use.

The fundamental technology behind Litecoin is similar to Bitcoin, utilizing a Proof-of-Work (PoW) consensus mechanism. However, it differentiates itself through a few key features. Litecoin’s block creation time is just 2.5 minutes, significantly faster than Bitcoin’s 10-minute intervals. This speed makes it a better option for quick transactions.

Additionally, Litecoin employs the Scrypt algorithm instead of Bitcoin’s SHA-256, making mining more accessible to everyday users. It has a total supply cap of 84 million coins, four times Bitcoin’s 21 million, ensuring more widespread availability. Lower transaction fees further make it a cost-effective solution for payments and transfers.

Litecoin is widely used for peer-to-peer transactions, online purchases, and international remittances. Businesses that accept crypto often prefer Litecoin due to its efficiency. Investors and traders also value it for its price stability and market resilience.

Its price history has seen fluctuations, yet Litecoin has consistently remained relevant. The coin experiences periodic surges during bullish market trends while maintaining stability in downturns. This resilience, combined with its capped supply and halving events, makes it a valuable asset in the crypto space.

Litecoin’s appeal lies in its efficiency, affordability, and decentralization. While it may not have overtaken Bitcoin, it has carved out its niche, proving that it is much more than just Bitcoin’s little sibling.