Litecoin (LTC) is a peer-to-peer, open-source cryptocurrency launched in October 2011 by Charlie Lee as a faster, lower-cost alternative to Bitcoin. Operating as an independent layer-1 blockchain, Litecoin preserves Bitcoin's fundamental monetary design while optimizing for faster settlement and reduced transaction costs. The network is often described as "digital silver" to Bitcoin's "digital gold," reflecting its positioning as a practical payment asset rather than a store-of-value-only network.