The project was created as an upgrade of Bitcoin. There are not many differences, but some of them are very significant. Several technologies have been applied that have eliminated some of the disadvantages of Bitcoin: the "Proof of Work" protocol, which uses the Scrypt hash function, and not SHA-256, like BTC. The average speed of block creation is 2.5 minutes (for comparison, BTC takes four times longer).

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Lantern Finance announces support for LTC-backed loans. Now you can borrow against your LTC, straight to your bank account. 

https://lantern.finance/blog/we-now-accept-litecoin-ltc-as-collateral-for-crypto-backed-loans