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Cryptocurrency Litecoin appeared in 2011 and had to be an addition to Bitcoin. This coin was built on the Bitcoin protocol, but there were significant differences in it: higher transaction speed, time to extract 1 block is 5 times less, new hashing algorithm (Scrypt vs SHA-56 for Bitcoin).The creator of cryptocurrency - Charlie Lee, a former employee of Google, inspired by blockchain technologies and decentralization, created Litecoin cryptocurrency for several weeks, which secretly named “silver bitcoin”. At that time it was not the only coin that wanted to improve the Bitcoin protocol, but they did not succeed. Charlie Lee noticed the key problems causing the bitcoin network overload and solved them on the Litecoin network.In 2017, the users of the network adopted the SegWit protocol, which made it possible to solve problems with Litecoin scalability.Litecoin is not controlled by any organization, it is developed by a group of enthusiasts around the world. Despite this, the popularity of the coin is always at a high enough level.