Litecoin is a global decentralize crypto currency based upon blocked in, like most of the others. It has a few benefits beyond Bitcoin, which is its closest competitor. It has the same type of block chain in general, but is much quicker to process payments, approximately 4 times as fast as Bitcoin, making it more appealing to merchants as confirmation of a payment is much quicker. It has an encrypted wallet, as most cryptocurrencies do, and for every block that is created, minors get 25 new Litecoin. At the present calculation, there should be a complete production of 84 million Litecoin, which is 4 times as much as Bitcoin will produce.
There is a wiki, community forum, and a plethora of tools to use for starting out. It is traded at most of the major exchanges, and one of the more popular cryptocurrencies in the world. With the flexibility, speed, and popularity of this cryptocurrency, it should continue to be a valuable exchange medium. Ultimately, this market trades in lockstep with most other cryptocurrencies, as it is a speculative market. Longer-term investors seem to be attracted to Litecoin as it is one of the easiest markets to access, and its larger volume tends to make it a little less volatile than some of the other cryptocurrencies.
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