Litecoin is a decentralized cryptocurrency that facilitates peer-to-peer digital payments. It is most notably regarded as the silver to bitcoin's gold. Litecoin was created in 2011 as an open-sourced software under the MIT/X11 license by Charlie Lee. It shares many similarities and features with Bitcoin, but is however slightly faster and cheaper in terms of transactions.

Is litecoin better than bitcoin?

While litecoin shares many similarities with bitcoin, it does outpace bitcoin in some aspects. Most notably, litecoin transactions are faster and cheaper. However, the Bitcoin network pays more in terms of transaction fees/ security spend. Furthermore, bitcoin has a higher transaction volume than litecoin.

Who created litecoin?

Litecoin was created in October 2011 by Charilie LEe, under the MIT/ X11 license. Charlie is an MIT graduate and former Google engineer. It shares similar features to Bitcoin's original code source, but differs in some aspects. Litecoin was created as a way to facilitate peer-to-peer digital payments, but with slightly more transaction throughput than BTC.