Litecoin is developed by and was launched in October 2011. The amount of Litecoins is fixed, there will only ever be 84 million Litecoins. The network is open source and is fully decentralized without central authority. The network is secured by using mathematical encryption. Thereby empowering the users to have full control over their finances.
Compared to Bitcoin the features of Litecoin are: faster transaction confirmation time and improved storage efficiency. Next to these technical features, Litecoin has substantial industry support, trade volume and liquidity.
Litecoin is proven to be the medium of commerce.