Apart from price, how does Bitcoin differ from Litecoin?

[Stardom22]

So litecoins has really low fees compared to bitcoin where it might cost $10 at times whereas the transactions on the litecoins is less than $0.01.
Secondly the litecoin transaction are faster and confirms in 2.5 minutes compared to the bitcoin's transaction 10 minutes among other reasons.

 

[Suba]

Even though Litecoin is a hard fork of Bitcoin, there are many differences between the two, the BTC algorithm uses SHA-256 while Litecoin uses Scrypt. On Coinmarket we get information about Bitcoin Max supply of 21 million BTC while Litecoin is 84 million Ltc. Confirmation of the transaction time required for Bitcoin takes at least 5 minutes to three days in 2017. Meanwhile, LTC transaction time is only 2.5 minutes.

 

[ekta]

Bitcoin and Litcoin are different cryptocurrencies. Bitcoin is the first and most well-known while Litecoin is newer. They use different technology. Bitcoin is like gold and Litecoins are like silver in the world of digital money.

 

[Webster]

Bitcoin and Litcoin are different cryptocurrencies. Bitcoin is the first and most well-known while Litecoin is newer. They use different technology. Bitcoin is like gold and Litecoins are like silver in the world of digital money.

Agreed; Bitcoin's been around longer and has a longer history to look at compared to litecoin.

 

[SilverLance]

Bitcoin uses the SHA-256 algorithm, while Litecoin uses Scrypt. This means that the two cryptocurrencies have different levels of security and decentralization in their mining processes.

 

[King Belieal]

For me, the major difference between the two is in their transaction speed. Litecoin has incredible speed that Bitcoin doesn't.

 

[Puroypoi]

Bitcoins already have few halvings which led to the creation of BCH, does Litecoin already have? Then if there's none, then I think that's one of their difference.

 

[magnus2022]

Bitcoins already have few halvings which led to the creation of BCH, does Litecoin already have? Then if there's none, then I think that's one of their difference.

I don't agree with you. BCH was a different coin with different ecosystem. BCH was invented because of bitcoin volatility and instability. BCH is more stable and hardly jump unexpectedly.

Post automatically merged: Apr 16, 2024

For me, the major difference between the two is in their transaction speed. Litecoin has incredible speed that Bitcoin doesn't.

You are absolutely right! Litecoin have great speed. The transaction is simply one snap of finger. Another difference is price. Litecoin is affordable but bitcoin is not for everybody.

 

[riberet19]

Litecoin is a coin that allows cheaper transactions due to the fact that its block is larger, while Bitcoin's is smaller, only 1 mb per block and its transactions are expensive and slow, both are proof of work protocols and Litecoin was born from Bitcoin in a hard fork, one of the differences is the number of coins in circulation, Litecoin will have a maximum supply of 84 million, 4 times larger than that of BTC, i.e. 21 million coins.

 

[SilverLance]

It's interesting to see how Bitcoin and Litecoin, both based on proof of work protocols, have evolved and differentiated from each other over time.