Litecoin is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Inspired by and technically nearly identical to Bitcoin, Litecoin creation and transfer is based on an open-source protocol and is not managed by any central authority. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. Litecoin is a proven medium of commerce complementary to Bitcoin with substantial industry support, trade volume, and liquidity, and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.
Litecoin was created by Charlie Lee, an MIT graduate and former engineer at Google. Litecoin uses “scrypt” as a proof-of-work algorithm. The currency is based on an open-source global payment network that is not controlled by any central authority and uses “scrypt” as proof of work, which can be decoded with the help of CPUs of consumer grade.
Litecoin has a limited supply of 84 million only and there will be no more than that number of coins released by 2140 when all the coins will be mined from the network, making it one of the scarcest cryptocurrencies in the world today.
Litecoin was designed to address some of the problems faced by bitcoin. Litecoin’s transaction fee is $0.04, while Ethereum’s is $0.85 per transaction. Moreover, the Ethereum network can handle 15 transactions per second while Litecoin can handle 56 transactions per second (TPS).
Overall, you can’t find a better coin to store value in. Besides the fact that they are probably rare, they are also very consistent in terms of weight and size, and your minted NFT has more potential, and value as compared to NFTs minted on Ethereum,