Litecoin was created in 2011, making it one of the earliest cryptocurrencies inspired directly by Bitcoin's source code. It was designed with a few intentional differences aimed at making transactions faster and cheaper, often described informally as intended to function alongside Bitcoin rather than replace it.
Litecoin generates new blocks roughly four times faster than Bitcoin, which generally results in quicker transaction confirmations. It also has a larger maximum supply of 84 million coins, compared to Bitcoin's 21 million, though both share the same fundamental scarcity-based design philosophy.
Despite many newer cryptocurrencies offering faster speeds and lower costs, Litecoin has maintained relevance largely due to its long operating history, consistent uptime, and continued support across exchanges and payment processors since 2011.