Litecoin looks like Bitcoin in a lot of ways. Litecoin is simular to Bitcoin both functionally and systematically. One of the main differences lies in the way Litecoin is mined. Mining Litecoin costs a lot less computing power than mining Bitcoin. So it is easier to mine Litecoin when you have a computer with less advanced average specs.
Bitcoin has a market cap of 21 million coins and the current supply is 16.4 million coins. Whereas Litecoin has a market cap of 84 million coins with a current supply of 51.8 million Litecoins. So relatively Litecoin can be interpreted as silver to Bitcoin as gold.