Litecoin is the second largest in terms of popularity and capitalization digital currency, an alternative to bitcoin. It can be used to pay for the goods and services as well as exchanged for traditional or digital currencies.
Litecoin is issued and maintained by a decentralized user network which makes government regulation and rate manipulation by means of changing the supply of coins impossible. The amount of litecoins is algorithmically limited by 84 mln of coins.
The price for Litecoin depends only on the supply and demand balance and is actually determined by the trust to this digital currency as means of payment for the goods and services.