Litecoin is the first altcoin. It was launched as the silver to Bitcoin’s gold. The essential purpose of Litecoin as a cryptocurrency is to offer faster and more efficient transactions, for the sake of day to day use. Litecoin also slightly changed the original consensus protocol, which made it less energy intensive to mine. The vision behind Litecoin is the mass adoption of cryptocurrency. In 2017, Litecoin enjoyed a 1000% surge in market price.