Litecoin (LTC or Ł) is another peer-to-peer cryptocurrency and open source software project which was released under the MIT X11 license in 2011. Like other cryptocurrencies the transfer of coins is decentralised with no overarching authority. Instead it is handled by a cryptographic protocol.
Litecoin is for the most part identical to Bitcoin with some small technical improvements which give it the ability to handle a greater number of transactions at any given time. It is also significantly faster than Bitcoin.
Released on October 7, 2011 by Charlie Lee , Litecoin was a fork of the Bitcoin Core client. The main differences at this point was its faster block generation time, its larger coin cap and its change in hashing algorithm (replacing SHA-256 with scrypt) In November of 2013 Litecoin reached $1 billion in market cap and August of 2017 $2 billion.
So why choose Litecoin over Bitcoin? As mentioned earlier Litecoin is much faster than Bitcoin, infact it is 4x faster when confirming transactions and managed a transaction from Zurich to San Francisco in under one second. This extra speed may also helps with security and although on the face of it BTC should be more secure, many have suggested that by being faster it is also more secure.
As an investment Litecoin may be the more attractive option. As of writing this Litecoin is Coin for Coin significantly cheaper than BTC. This gives the perception that it has a lot more room to grow and may have much greater % gains. Litecoin also has 4x more potential coins to be mined which on one hand gives it more capacity to be a global crypto solution, but on the other hand also means coin for coin price comparisons with BTC are misleading.
Overall Litecoin looks to be one of the better options in the crypto currency landscape and is likely to continue to grow as long as long as the overall crypto market does.