This 4x increase in blocks per halving period means that Litecoin generates four blocks for every one block that Bitcoin generates. Theoretically, this compensation mechanism should keep Litecoin and Bitcoin on a similar trajectory, with a halving event taking place every four years for both cryptocurrencies.
The math also reveals that there will ultimately be a greater total number of LTC than BTC — 84 million versus 21 million. With faster block times and higher transaction throughput, Litecoin was built to be a more practical and scalable medium of exchange, whereas Bitcoin has grown more into a store of value.
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Charlie Lee. Prior to creating Litecoin, Charlie was a software engineer at Google. Lee then worked at Coinbase, where he became Director of Engineering before leaving the company in to focus on supporting the development of Litecoin full time. Follow me on:. Litecoin miners updated to SegWit capabilities in May This would not be the last time that Litecoin beat Bitcoin to the technical punch. Litecoin was also the first network to successfully integrate the Lightning Network.
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This second-layer protocol introduced the use of private payment channels to reduce blockchain congestion. Notably, the first Lightning Network transaction transferred 0. The transfer took less than one second to complete. Over the last decade, Litecoin and Bitcoin have seen a continued decoupling of value. Litecoin users have shown completely different trading and spending habits compared to Bitcoiners.
However, it must be noted that Bitcoin has proven to be a better, or at least more popular, store of value versus Litecoin.
Bitcoin and Litecoin have seen their markets expand considerably. This compatibility has helped Litecoin remain a popular coin in the market, despite the emergence of tons of competition. There is no right or wrong answer to this question. Bitcoin serves a valuable role as the first cryptocurrency in the world. For that reason alone, it will always hold value among the community. Litecoin provides all the technical aspects of Bitcoin, and the longevity of being one of the oldest cryptocurrencies in the world. For these reasons, savvy investors hold both of these coins. These are two of the most popular cryptocurrencies in the world.
The exchanges below enable the purchase of both of these digital assets. The scoring formula for digital assets cryptocurrency brokers takes into account over dozens of factors, including account fees and minimums, trading platforms, customer support, regulatory bodies, and investment options. David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including Bitcoinlightning.
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Litecoin vs. Bitcoin FAQs. Litecoin: An Overview Over the past several years, public interest in cryptocurrencies has fluctuated dramatically. Key Takeaways Both Bitcoin and Litecoin are cryptocurrencies.
Litecoin: The Silver to Bitcoin’s Gold
Bitcoin, which originated in , is the dominant brand; Litecoin, founded two years later, is one of its leading competitors. Bitcoin and Litecoin use fundamentally different cryptographic algorithms: Bitcoin uses the longstanding SHA algorithm, and Litecoin uses a newer algorithm called Scrypt. Article Sources. Investopedia requires writers to use primary sources to support their work.
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