Litecoin (LTC) is a decentralised peer-to-peer cryptocurrency founded in 2011 by Charlie Lee (a former Google employee). It is regarded as one of the earliest altcoins created from Bitcoin's initial open-source code. It bears several similarities with bitcoin as it is based on bitcoin's original source code. Unlike other currencies, Litecoin's supply is limited. Litecoin will never have a total supply of more than 84 million. The Litecoin network creates a new block every 2.5 minutes—a ledger entry of recent Litecoin transactions from all across the globe.