Litecoin is a peer-to-peer crypto currency developed by Charlie Lee back in 2011. Charlie Lee is a former a Google employee who later became Engineering Director at Coinbase and later developed and launched Litecoin via an open-source client on GitHub. In technical details, Litecoin is nearly identical to Bitcoin. The Litecoin Network aims to process a block every 2.5 minutes, rather than Bitcoin's 10 minutes.