Is Litecoin a POS or PoW?

Bitcoin, Litecoin, and Ethereum, for example, are Layer-1 blockchains. Layer-1 scaling solutions augment the base layer of the blockchain protocol itself in order to improve scalability.

It was launched on October 13, 2011, with the goal of being “the silver to Bitcoin’s gold,” and is still one of the largest cryptocurrencies by market capitalization. Just like Bitcoin (BTC), Litecoin runs on an open-source blockchain that isn’t controlled by any central authority.

Bitcoin, Litecoin, and many other cryptocurrencies use the proof-of-work (PoW) algorithm in order to secure their networks.

They can be sidechains, plasma chains, state channels, or rollups . Popular examples are Bitcoin Lightning Network and Ethereum Plasma. The following list consists of top layer-2 coins that you can invest in.