Litecoin (LTC) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority. While inspired by, and in most regards technically nearly identical to Bitcoin (BTC), Litecoin has some technical improvements over Bitcoin, and most other major cryptocurrencies, such as the adoption of Segregated Witness, and the Lightning Network. These effectively allow a greater number of transactions to be processed by the network in a given time, reducing potential bottlenecks, as seen with Bitcoin. Litecoin also has almost zero payment cost and facilitates payments approximately four times faster than Bitcoin.
The Litecoin blockchain is capable of handling an high number of transactions at the same time. Due to more frequent block generation, the network supports transactions without a need to modify the software in the future. As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.
Litecoin faucets are a reward system, in the form of a website or app, that dispenses free litecoin in the form of a litoshi, which is a hundredth of a millionth LTC, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense other cryptocurrencies. Rewards are dispensed at various predetermined intervals of time. Litecoin faucets usually give fractions of a litecoin, but the amount will typically fluctuate according to the value of litecoin.
Free litecoin faucet is a great way to help introduce new people to litecoin, or to your favourite altcoin. Many faucets provide information to newbies as well as offering them some free coins so that they can try before they buy, experimenting with a test transaction or two before putting real money on the line. Since this whole area is so new and a bit scary to some people, who perhaps don't quite trust it with their hard earned cash yet, this is a great way to promote digital currency and bring in new users.