Litecoin is very different from Ethereum. It has much more in common with Bitcoin than Ethereum does.
Litecoin is a digital currency in its truest sense. Unlike with the Ethereum software platform, there is no second layer for application development on Litecoin. So, its sole purpose is to be used as a currency.
Like Bitcoin and Ethereum, Litecoin is a peer-to-peer and completely open source. This means that anyone can download the software code, join the network and mine Litecoin.
Litecoin and Ethereum are very different blockchain projects. As I’ve already stated, Litecoin is a payment system that is very much like Bitcoin but faster and cheaper.
Meanwhile, Ethereum is a decentralized computer system with its own programming language. This allows developers to create decentralized applications using smart contracts.
Both Litecoin and Ethereum have faster transaction times than Bitcoin. On the Litecoin network, new blocks are formed every 2.5 minutes. Ethereum has a much faster blockchain and new blocks are formed every 10 to 20 seconds