litecoin foundation

Litecoin is a P2P digital currency that was designed to provide fast, secure, and near-zero-cost payments. The platform was founded by a former Google employee, Charlie Lee. Litecoin was released through an open-source client in 2011. It is an open-source, decentralized network that was created on the basis of Bitcoin. However, Litecoin distinguishes itself with its hashing algorithm, hard cap, and transaction times, amongst others.    Litecoin employs the Proof-of-Work (PoW) consensus mechanism to confirm faster and error-free transactions. The protocol makes use of strong cryptographic defenses to secure the network. The collective efforts of the Litecoin mining network ensure 100% uptime whilst preventing double-spends and external attacks.