Litecoin (LTC) is an open source, peer-to-peer digital currency that is fully decentralized without any central authorities. Litecoin is largely similar to Bitcoin utilizing similar protocols as Bitcoin except for a few parameter tweaks.
Compared to Bitcoin, Litecoin features faster transaction confirmation times (2.5 minutes) and improved storage efficiency.
With substantial industry support, trade volume, and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin.
Litecoin was founded by Charlie Lee, in 2011, with a total supply capped at 84 million coins.