Litecoin's computational complexity is chosen so that, on average, one block is generated in 2.5 minutes, which is four times faster than Bitcoin, which allows for faster transaction confirmations. A transaction is usually considered complete after 6 blocks, or 15 minutes.
Litecoin's emission is algorithmically limited. The maximum number of litecoins that will enter circulation exceeds the maximum number of bitcoins by 4 times (84 million versus 21 million). The initial reward for each block is 50 litecoins. The rate of litecoin generation is halved every 840,000 blocks, which is 4 times more blocks than Bitcoin. Since litecoin blocks are formed 4 times faster than bitcoin blocks, this means that their emission rates and rewards will be similar. For example, by 2020, about 3/4 of all litecoins will be generated.
Litecoin can be exchanged for both fiat money and other cryptocurrencies. Exchanges are mostly done on online exchange platforms. Reversible transactions (e.g. via bank cards) are usually not used to buy Litecoin due to concerns about chargebacks, as transactions to transfer Litecoin itself are irreversible.
