Bitcoin Vs Litecoin

Bitcoin Vs Litecoin

Bitcoins & Litecoins

As you might have seen on our website, we mainly focus on 2 cryptocurrencies as of now, which are Bitcoin (BTC), and Litecoin (LTC). Now you might be wondering, what exactly is the difference between those 2 cryptocurrencies? I like to look at them in this way: Bitcoin is gold, and Litecoins are silver. This vision is also reflected in their worth: Bitcoins have a higher BTC/USD rate, then Litecoins. BTC were first introduced in 2009, and LTC came into the game in 2012. They are however set up in a very different way, which makes them different.

Bitcoins are created to be mined by the power of your GPU. The faster your GPU, the more BTC you will mine. Litecoins on the other way are designed to be mined with your CPU. This is done with the Scrypt algorithm, which is a bit lighter (but more memory intensive, therefore more suited for CPU mining) then the SHA-256 encryption method that BTC uses (Hence the name LITE coin). There is also a difference between the release structure of the two coins.

A Bitcoin block contains 25 BTC, and a new block is released every 10 minutes. There will only ever be 21 Million BTC in the world. A Litecoin block contains 50 LTC, and a new block is released every 2,5 minutes. This means that there will be about 4 times more LTC then BTC, 84 Million to be exact. This is also the reason why most people believe that one LTC will never be worth as much as one BTC. If this is true has yet to be seen, as the end of the blockchain is nowhere near finished, and the cryptocurrency still needs time to stabilize  to a stable price.

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