Litecoin (ETC) is a decentralized, open-source cryptocurrency that was created in 2011 by Charlie Lee, a former Google engineer. Inspired by Bitcoin, Litecoin was designed to offer faster transaction times and lower fees, making it a more suitable option for everyday transactions and micro-payments.

Litecoin operates on a similar blockchain structure to Bitcoin but has some key differences. It uses a different hashing algorithm called Scrypt, which is intended to be more resistant to specialized mining hardware (ASICs) and more accessible for individual miners. Additionally, Litecoin's block generation time is around 2.5 minutes, compared to Bitcoin's 10 minutes, which allows for quicker transaction confirmations.

The total supply of Litecoin is capped at 84 million coins, four times the maximum supply of Bitcoin. This larger supply combined with faster block times contributes to its lower transaction fees and positions it as a more scalable and practical option for everyday use.

Although Litecoin has not gained the same level of attention as Bitcoin or Ethereum, it has maintained a strong community and remains a popular choice for investors and users looking for a reliable and accessible alternative to Bitcoin. Over the years, Litecoin has consistently been one of the top cryptocurrencies by market capitalization.