Litecoin (LTC) was created in 2011 by a former Google engineer and MIT graduate, Charlie Lee.
Litecoin was designed to complement the Bitcoin network and provide a faster and cheaper means of transacting cryptocurrency and has become known as digital silver, next to Bitcoin's digital gold.
Through leveraging the unique functionalities of blockchain technology, the Litecoin network hard forked the Bitcoin network and incorporated several features of its own.
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While some retail spaces accept Litecoin, the rate of adoption is much lower than that of Bitcoin. To solve this problem, users can use Oobit Pay to instantly pay anyone or business with LTC using just a mobile number.
Litecoin (LTC) was created in 2011 by a former Google engineer and MIT graduate, Charlie Lee. He created the network to provide a "lite" version of Bitcoin, essentially with similar properties only lighter.
Depending on how busy the network is it could take anywhere from 2 to 8 minutes to send LTC, however, when using Oobit Pay all Litecoin transactions are instant.
While Litecoin can be sent more quickly, Bitcoin has a higher value. When deciding whether one cryptocurrency is better than another, one must first establish their goals. While Bitcoin might outweigh Litecoin in price, it comes short if you're looking for a smaller valued coin or quicker confirmation times.