2. Litecoin (LTC)
Litecoin was launched in 2011 and is one of the first promising cryptocurrencies to follow in the footsteps of Bitcoin. If Bitcoin is known as the “gold” of cryptocurrencies, Litecoin would be the “silver”.
It was created by Charlie Lee, an MIT graduate and former Google engineer.
Litecoin is based on an open-source global payment network that is not controlled by any central authority and uses “scrypt” as a proof of work, which can be decrypted with the help of a personal PC.
Although Litecoin is similar to Bitcoin in many ways, it has a faster block generation rate and therefore provides faster transaction confirmation times.
In addition to developers, more and more merchants accept Litecoin.
