Litecoin (LTC)

Litecoin is a digital currency created by the enigmatic Charlie Lee.

Charlie was a former Coinbase Engineering Director and at the time was employed at Google. Lee’s vision was to have a faster version of Bitcoin, with 2.5 minute block generation times (as opposed to Bitcoin’s 10 minute blocks), an increased max supply and a different PoW mining algorithm (scrypt). Scrypt was created to be easier to mine via CPU, which in turn would make it harder for established and growing ASIC miners (that mined bitcoins SHA-256 algorithm) to control the network, and allowing a gateway for more ‘everyday’ enthusiasts to be involved in the Proof of Work.