A peer-to-peer cryptocurrency based on the Scrypt proof-of-work network. Sometimes referred to as the silver of bitcoin’s gold. Litecoin was an early bitcoin spinoff or altcoin, founded by Charlie Lee in October 2011. Litecoin was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (Scrypt, instead of SHA-256).