:max_bytes(150000):strip_icc():format(webp)/lt-5bfd74bb46e0fb0083fbff2d) Like Bitcoin, Litecoin uses a proof-of-work consensus algorithm to validate transactions and create new coins. Litecoin has several features that make it attractive to users and investors. First, its faster block time means that transactions can be confirmed more quickly, making it more practical for everyday use. Second, Litecoin has a larger supply cap than Bitcoin, with 84 million coins compared to Bitcoin's 21 million. This means that Litecoin is less likely to experience the same kind of supply scarcity that Bitcoin may face in the future. Third, Litecoin has lower transaction fees than Bitcoin, making it a more cost-effective option for sending and receiving payments. However, like all cryptocurrencies, Litecoin is subject to market volatility and is not backed by any government or central authority. Its value can fluctuate greatly based on market demand and supply, which can be influenced by factors such as regulatory changes, adoption rates, and overall market sentiment. Additionally, as a decentralized currency, Litecoin is not insured or protected by any financial institution, which means that users must take responsibility for securing their own coins. In summary, Litecoin is a decentralized cryptocurrency with several attractive features that make it a popular option for users and investors. However, like all cryptocurrencies, it is subject to market volatility and is not backed by any central authority or government. As with any investment, it's important to do your own research and make an informed decision based on your own risk tolerance and financial goals.