As the Bitcoin network started to grow, it was evident that transaction times can get very long. An ex Microsoft employee, Charlie Lee, saw this issue and decided to create his own coin, called Litecoin. He used the Bitcoin code as a base and improved many aspects of it, making the new blockchain much faster than its predecessor. Litecoin was created to handle frequent small transactions and be easily tradeable. The maximum supply is 84 million LTC and the smallest possible unit in the blockchain is 1/100 millionth. Recently, it is used also as a testing platform for future Bitcoin updates such as SegWit, Lightning Network, and Atomic Swaps, due to the similarities in architecture.