Litecoin is a type of digital currency, often referred to as a cryptocurrency. It was created in 2011 by Charlie Lee as a faster and more efficient alternative to Bitcoin. Like Bitcoin, Litecoin allows users to send and receive money over the internet without the need for a bank. Transactions are recorded on a public ledger called the blockchain, ensuring transparency and security. One of the key features of Litecoin is its faster transaction times. While Bitcoin transactions can take several minutes to confirm, Litecoin transactions are typically completed in just a couple of minutes. This speed makes Litecoin a popular choice for everyday transactions and a valuable asset in the world of digital currencies.