During 2009, Satoshi Nakamoto, introduced and launched Bitcoin as the first in the world crypto-currency. This code is open source, that means it can be modified by anyone and used freely for other projects. Many new crypto-currencies have since launched using modified versions of the code, with varying levels of success.
Litecoin was introduced and announced during 2011, the goal being the 'silver' to Bitcoin's 'gold'. Litecoin now stands as the highest market cap of any of the mined crypto-currency, after Bitcoin.
Althouth Litecoin was inspired by and regarded as technically almost identical to Bitcoin (BTC), Litecoin has technical improvements over Bitcoin and many other of the major crypto-currencies, like the adoption of Segregated Witness, and Lightning Network. These allow greater amounts of transactions to be processed by the network at any given time, whih reduces potential bottlenecks. Litecoin also has near to zero payment cost and payments are approximately four times faster than Bitcoin.