Litecoins

Litecoins (LTC) is an alternate digital currency of Bitcoin and is quite similar in the way it functions. The key difference is Bitcoin uses hashcash-SHA256^2, litecoin employs hashcash-Scrypt which uses more memory, uses less hardware, so as to solve the problems in less time. More details about the difference is available at https://en.bitcoin.it/wiki/Hashcash.