The "silver" to Bitcoin's "gold"
Litecoin was created in 2011 with the intention to be the next best cryptocurrency and blockchain after Bitcoin. It’s aim was to improve Bitcoin’s model and neutralize its defects. Is available over Mainnet and Testnet networks.
Litecoin includes considerable improvements over Bitcoin’s model. It produces a significantly larger amount of coins, has faster transaction and processing speed and uses a newer and better cryptographic algorithm - Scrypt. It also takes 4 times less minutes for Litecoin to generate a new block.