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Litecoin (LTC or Ł) may be a peer-to-peer cryptocurrency and also an open-source software project released under the MIT/X11 license. The creation and transfer of coins are predicated on an open-source cryptographic protocol and are not managed by a central authority. While inspired by, and in most regards technically nearly just like Bitcoin (BTC), Litecoin has some technical improvements over Bitcoin, and most other major cryptocurrencies, like the adoption of Segregated Witness, and therefore the Lightning Network. These effectively allow a greater number of transactions to be processed by the network during a given time, reducing potential bottlenecks, as seen with Bitcoin. Litecoin also has almost zero payment cost and facilitates payments approximately fourfold faster than Bitcoin.