Litecoin is a cryptocurrency created by Charlie Lee in 2011 as an alternative to Bitcoin. Litecoin is designed to offer faster transactions and lower fees compared to Bitcoin. With a block confirmation time of approximately 2.5 minutes, Litecoin enables users to make payments more efficiently. This asset uses the Scrypt algorithm, which is different from Bitcoin, making it more accessible to early miners. Litecoin is often referred to as "digital silver" compared to Bitcoin's "digital gold." To date, Litecoin remains popular as a payment method and investment, with an active community and broad support across various global crypto platforms.