Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open source
software project released under the MIT/X11 license. Creation and
transfer of coins is based on an open source cryptographic protocol and
is not managed by any central authority. While inspired by, and in most
regards technically nearly identical to Bitcoin (BTC), Litecoin has some
technical improvements over Bitcoin, and most other major
cryptocurrencies, such as the adoption of Segregated Witness, and the
Lightning Network. These effectively allow a greater number of
transactions to be processed by the network in a given time, reducing
potential bottlenecks, as seen with Bitcoin. Litecoin also has almost
zero payment cost and facilitates payments approximately four times
faster than Bitcoin.