Litecoin is a decentralized cryptocurrency, which means that it is not controlled by any single entity or organization. Instead, it operates on a peer-to-peer network, where users can freely send and receive Litecoin without the need for a central authority. The network is maintained by miners who validate transactions and secure the network through the process of mining. Charlie Lee, the creator of Litecoin, initially played a significant role in the development of the cryptocurrency, but he has since stepped back to allow the community to guide its future direction.
