Litecoin was created on November 2011 by Charlie Lee, as one of the first forks of the Bitcoin Core software. It was one of the first alternative cryptocurrencies, or "altcoins". The main differences between Bitcoin and Litecoin are:
Litecoin has always received excellent support from developers and there is an active community behind the cryptocurrency. Litecoin provides added value as a testbed for innovations that can later be implemented on Bitcoin. For example, Segregated Witness (SegWit) was first implemented and tested on Litecoin before it was activated on Bitcoin. This allowed for testing applications (e.g. Lightning Network) on the live Litecoin network.
As SegWit has been activated on both Bitcoin and Litecoin, it now becomes possible to perform "atomic cross-chain" transactions between the two blockchains. This is the main reason for Bitonic to add Litecoin to BL3P. Atomic cross-chain trading is a promising future application for blockchains and we would like to experiment with its possibilities.