Litecoin (LTC) is created in 2011 to be the silver to Bitcoin’s gold. There are many differences to Bitcoin even though Litecoin is based on the same open source code. Litecoin generates blocks about four times faster than Bitcoin, this causes faster transaction confirmations while there are more transactions over the same time frame. The maximum supply for Litecoin is 84 million and is mined the same as Bitcoins. Every block created is awarded with 50 LTC, however, every 840,000 blocks the reward gets halved.