Question

Is Litecoin a layer 1?

Answer 1

No, Litecoin is not considered a layer 1 protocol. It is a peer-to-peer cryptocurrency created as a fork of Bitcoin, which operates on its own blockchain network. A layer 1 protocol refers to the underlying blockchain itself, whereas Litecoin is a separate blockchain network that operates independently.

Answer 2

No, Litecoin is not considered a layer 1 protocol. It is a peer-to-peer cryptocurrency created as a fork of the Bitcoin protocol, serving as a digital payment method.

Answer 3

Yes, Litecoin is considered a layer 1 cryptocurrency since it operates as an independent blockchain with its own native currency (LTC) and does not rely on any other blockchain for its functionality.