Litecoin is often regarded as the little brother of Bitcoin, being from the very beginning a peer-to-peer currency, that has become popular and spread rapidly since its launching in 2011. The blockchain-based trading coin is used to transmit money directly between two people without the third part regulation instance, such as a bank and so on.
Charlie Lee is a computer engineer who had an aspiration to find a lighter version of Bitcoin. When Bitcoin (btc) was regarded as “gold” and some kind of storage for values, Litecoin (ltc) was taken as “silver” and a means of everyday transactions for a cheaper cost. So, on October 7, 2011, Lee launched Litecoin via an open-source client on GitHub. Generally, it is a fork of the Bitcoin Core client, which in practice went live on October 13, 2011.