Definition
Litecoin is a digital currency and blockchain network created as an alternative to Bitcoin. It is a public, decentralized system where its native coin, LTC, is used as a form of money on the network. Litecoin functions as a base, or main, blockchain rather than being built on top of another chain.
In Simple Terms
Litecoin is an online form of money that runs on its own blockchain. It is not controlled by any single company or government. People use its coin, called LTC, within the Litecoin network as a type of digital cash.
Context and Usage
Litecoin is commonly mentioned alongside other major cryptocurrencies as one of the earlier blockchain networks. It appears on exchanges, in market listings, and in discussions about different main blockchains. It is treated as both a cryptocurrency asset (LTC) and a standalone blockchain protocol within the wider crypto ecosystem.