Litecoin is one of the first cryptocurrencies that emerged after Bitcoin. It serves as an online payment system. Litecoins are mined, and there are exactly 84 millon coins in circulation. In its essence, Litecoin is quite similar to Bitcoin, but Litecoin transactions are actually quicker and cheaper.
Litecoin was founded by Charlie Lee, a former Google employee, in October 2011. The original idea behind Litecoin was to reduce transaction times and fees. Charlie Lee worked on the Bitcoin source code and came up with Litecoin.
Litecoin is around 4 times faster than Bitcoin, and comes with very low transaction fees. It makes the coin a great tool for online payments, and a good coin to support on your website!