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Litecoin is based on an open-source global payment network that is not controlled by any central authority and uses 'scrypt' as a proof of work, which can be decoded with the help of CPUs of consumer-grade. Although Litecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation time. Other than developers, there are a growing number of merchants who accept Litecoin. As of January 2021, Litecoin had a market cap of $10.1 billion and a per token value of $153.88, making it the sixth-largest cryptocurrency in the world.So, Satoshi set the rule that the miners need to invest some work of their computers to qualify for this task. In fact, they have to find a hash - a product of a cryptographic function - that connects the new block with its predecessor. This is called the Proof-of-Work. In Bitcoin, it is based on the SHA 256 Hash algorithm.If you're considering investing in Litecoin, realize that there are a lot of risks - but also huge potential rewards. 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