Litecoin is a blockchain-based cryptocurrency that works similarly to Ethereum and Bitcoin. This is a peer-to-peer Internet currency that allows you to instantly receive payments from anyone in the world. This is a decentralized payment network that is not managed by any authorities. The Litecoin blockchain can handle a higher transaction volume than Bitcoin. This is because Litecoin has more frequent block generation. The network supports more transactions without having to change the software in the future.