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What are the differences between Bitcoin vs Litecoin?

May 02, 2018 AlanC Currencies Views: 82

What are the differences between Bitcoin vs Litecoin?


Both bitcoins and Litecoins are crypto-currencies. The two cryptos may seem similar, but they are actually quite distinct in their market acceptance and technical mechanics.

Bitcoin is much more popular with a market cap roughly 22.5x the size of Litecoins. Bitcoin's overwhelming popularity makes it the obvious choice for the crypto investment community.

But Litecoin accommodates more total coins. This means Bitcoin is currently has roughly 16.5 milion coins in circulation, and Litecoin has about 52 milion. This means Bitcoin is currently at 78% of its maximum, whileLitecoin is about 61% of its maximum.

Litcoin has a faster transaction processing speed while bitcoin's average transaction confirmation time is a little over 9 minutes per transaction, Whereas Litecoins is roughly four times faster than Bitcoins. 

Litecoin's cryptographic algorithm welcomes newbies when comparing the two, Bitcoin's SHA-256 algorithm and Litecoin's algorithm called Scrypt.

Many consider Bitcoins SHA-256 algorithm more complex than Litcoins Scrypt. which therefore allows for higher degree of parallel pocessing. In short, if Bitcoin is gold, then Litecoin is silver.

For more information, visit cryptoversal.com.

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