Litecoin is a cryptocurrency that was introduced after the creation of Bitcoin, and is considered one of the earliest digital currencies in existence. Charles “Charlie” Lee, a former Google engineer, created Litecoin in 2011 and called it a “silver to Bitcoin’s gold.” Litecoin has survived all the ups and downs of the crypto sphere and continues to rank among the top 20 cryptocurrencies.
Both Bitcoin and Litecoin share a crucial similarity as they use a Proof-of-Work (PoW) validation system. That means the process of mining or creating both cryptocurrencies and adding them to a public ledger or blockchain is the same. Due to its close proximity to Bitcoin, its fluctuations are often matched.
Litecoin was hovering around $80, up 20% over the last year.
