Litecoin is a P2P cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. While it is inspired by, and in most regards technically similar to Bitcoin (BTC), Litecoin has some technical improvements over Bitcoin, and many other major cryptocurrencies, such as the adoption of Segregated Witness, and the Lightning Network. This allows a greater amount of transactions to be processed in a given time, minimizing the risk of bottlenecks. Litecoin also has almost zero payment cost and resolves payments approximately four times faster than Bitcoin. The maximum and total amount of Litecoin that can ever exist is 84 million.