Litecoin is a decentralized peer-to-peer cryptocurrency that allows for fast and low-cost transactions worldwide. It operates on an open-source network without the need for central authorities. The security of the network is ensured through mathematics, giving individuals full control over their finances. Litecoin boasts faster transaction confirmations and better storage efficiency compared to other cryptocurrencies. With strong industry support, high trade volume, and liquidity, Litecoin serves as a reliable digital currency alongside Bitcoin.