Litecoin was founded by former Google employee Charlie Lee and is a peer-to-peer cryptocurrency that allows instant, near-free payments to a recipient, wherever they are. Litecoin is a global, open source, fully decentralized payments network with no central authority. With broad support, high liquidity, and high volumes, Litecoin is an established medium of exchange that closely resembles Bitcoin.
Its strengths are: speed (LTC generates a block every 2.5 minutes as opposed to BTC’s 10 minutes), security, low fees and liquidity. The Litecoin Foundation has announced new initiatives to accelerate the integration of Litecoin in the global economy, proposing that “it's time to let your customers #paywithlitecoin" by launching the paywithlitecoin.co website mainly aimed at business. One such initiative was launched in April 2018: $99 million in Litecoin were transferred in the course of a single transaction, which was confirmed in 2 minutes and a half with the costs of $0.40 in commissions. Also noteworthy is the episode of Litecoin Cash: a rumor, disclosed in the first days of February 2018, stated that a group of programmers was working on the first hard fork of the Litecoin network, called "Litecoin Cash", generating strong enthusiasm among traders. The price increase was probably due to users who decided to stock up on LTC, so as to benefit as much as possible from this hard fork.
In fact, the announcement of Litecoin Cash promised the free assignment of 10 tokens for each LTC held by investors at the time of the hard fork. However, on February 4th, 2018, Litecoin creator Charlie Lee officially stated on Twitter that any attempt to fork the network is nothing more than a "scam".
The fork then happened but Litecoin Cash was a colossal flop and as of today it is a marginal project in the crypto industry. Litecoin is developed by the Litecoin Foundation, headquartered in Singapore. The founder Charlee Lee took a secondary position and sold all his Litecoin, tired of receiving accusations that he exploited his followers to inflate the price of the cryptocurrency. Litecoin is listed on Coinmarketcap, with a position ranging between tenth and fifteenth place among the most capitalized cryptocurrencies.
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