How did Litecoin start out?
Litecoin is the result of some of us who linked up on IRC in an endeavor to create a proper secondary currency similar to Bitcoin. We sought to create a coin that is silver to Bitcoin's gold. Litecoin manages to maintain the unparalleled traits and attributes of Bitcoin, while adding to the mixture CPU-specific mining and a 2.5 minute block rate. This means that Litecoin doesn't have to contend for the used up computational cycles of your graphics adapter if you're already mining Bitcoins, but can work independently on your processor. We'd like everyone to get their chance at being an "early adopter", so we've preannounced Litecoin various days ahead of thestart day for you to be able to prepare your mining on our Testnet. There have also been no more than two blocks mined ahead of release; the genesis block followed by a block to verify it.