Litecoin is an open-source, peer-to-peer Internet currency forked from Bitcoin in 2011. Like Bitcoin, it enables instant, near-zero cost payments to anyone in the world. Litecoin's decentralised network is secured by complex mathematical computation which allows individuals to control their own finances. Compared to Bitcoin, Litecoin features faster transaction confirmation times and improved storage efficiency. It has emerged as the second most popular cryptocurrency, after Bitcoin.