OFF-Topic: Questions about Litecoin are generally off-topic unless they are applicable to Bitcoin. Litecoin is a cryptocurrency based on Bitcoin. Litecoin is very similar to Bitcoin with a few distinguishing differences: blocks that are mined every 2.5 minutes on average and the scrypt hashing algorithm for its Proof of Work algorithm.
Litecoin is an alternative cryptocurrency based on Bitcoin. The key differences to Litecoin are that it's blocks are four times faster than Bitcoin's on average with a targeted average time of 2.5 minutes between blocks and Litecoin uses a different Proof of Work algorithm, scrypt. Scrypt was chosen as it was considered to be ASIC resistant, but this has been shown to be false as ASICs for scrypt coin mining now exist.
Litecoin's development follows Bitcoin's fairly closely. The full node software of Litecoin, Litecoin Core, is frequently rebased onto Bitcoin Core thus keeping up with the changes that are made to Bitcoin Core.