Litecoin (LTC)

The Litecoin network was released in October 2011 by its founder, Charlie Lee, after he was interested in the Bitcoin project and believed it could be complemented with a "lighter" currency used in more day-to-day transactions. Litecoin, while very similar to Bitcoin, has a block generation time of only 2.5 minutes, and uses the Scrypt hashing algorithm, as opposed to Bitcoin's SHA-256. Generally, transactions fees on Litecoin are cheaper than those on the Bitcoin network.