Litecoin, founded by Charlie Lee recently reached tag of $64.2 and till the market closed stayed at $62. Which is approximately 1383% more than it's initial price of just about $4.33, according to the founder, Charlie Lee, litecoins are certainly not better than Bitcoins. But if Bitcoins are gold, litecoins can be considered as silver. Litecoins are more convenient for transactions whereas Bitcoins are more convenient for storing, because people always prefer not to sell their golf unless they're short on silver! The creator also claims that litecoin transactions are much faster than Bitcoin transactions and maintain as much privacy as the former do. And soon they'll be launching something called Lightning Network which will allow users to swap Their Bitcoins to litecoins or vice versa easily.