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Why LiteCoin is a better than Bitcoin for Investment? – Know more about Altcoins in 2018

Why LiteCoin is a better than Bitcoin for Investment?

Hello friends, As i told you about the various crypto currencies day by day. If you haven’t read them yet, then links are given here below.

Today, we are going to tell you about Litecoin. A small introduction was given to you in the previous article. You must have heard about the growth of Bitcoin is compared with Litecoin. A term “Altcoin” is what is want to introduce to you. Altcoins are called alternative digital coins , which are made on the scene after the success of Bitcoin. A new crypto currency is introduced to public to show them more options. The crypto currency introduced later are released with more features & better option than the earlier one.

Why LiteCoin is a better than Bitcoin for Investment?
Why LiteCoin is a better than Bitcoin for Investment?

The most popular altcoins are PeerCoin, Litecoin, Ripple , Ethereum & Dash. Here we are going to talk about the growth of Litecoin in 2017 & some helpful information about it. if you are a newbie, then you must check the articles written with the basic knowledge about Crypto currency.

What is Litecoin?

Bitcoin has stealed all the lime-light from all the nations by rising on all time high every week. But if you think that other currencies are not rising, then you must know something more about them. Litecoin has raised its value with $340 which is all time high. The trade is flowing between $300 to $320.

Litecoin was introduced in 2011. It was founded by a Google employee Charlie Lee. Presently he is working as Director of Engineering at CoinBase. The ledgers of Litecoin transaction are maintained via blockchain.

What is the difference between Bitcoin vs Litecoin?

Bitcoin & Litecoin are quite similar. There are major differences given in the Bitcoin & Litecoin.

  1. Altcoins are generated four times faster than bitcoin & the transactions are done more faster.
  2. The coin limit of Bitcoin is 21 Million while in case of Litecoin, it is 84 million.
  3. Algorithm used in Bitcoin is SHA-256 & Scrypt in Litecoin.
  4. Mean Block Time of Bitcoin is 10 minutes & Litecoin is 2.5 minutes.
Bitcoin Litecoin
Coin Limit  21 Million  84 Million
 Algorithm  SHA-256  Scrypt
 Mean Block Time
 10 Minutes  2.5 Minutes
 Difficulty Retarget  2016 Blocks  2016 Blocks
 Block reward details
 Halved every 210,000  Halved every 840,000
 Initial Reward
 50 BTC  50 LTC
 Current Block reward  25 BTC  50 LTC
 Block Explorer  blockchain.info  block-explorer.com
 Created By  Satoshi Nakamoto  Charles Lee
 Creation Date  January 3rd , 2009  October 7th, 2011
 Market Cap  $ 10,467,596,650.78  $ 540,274,528.26

These are some of the major differences between Bitcoin & Litecoin. The hardware used in mining Litecoin are done by hardware instead of raw processing power according to CoinDesk States.

The change in mining protocol , let miners use special hardware to mine Litecoin. This makes Litecoin to reach for more small players much easier.

Why Litecoin has raised higher from all time ?

Litecoin is raising faster these days. The main reason of all the cryptocurrencies are rise in Bitcoin. Bitcoin is also showing some new features to show more adoption in e-commerce and online payment systems.

Litecoin is an option for many investors who are going for bitcoin but can’t due to the prices. That’s all for now. Hope this helped you to know something about Litecoin.
If you want more help to invest in crypto currencies, then read all our articles to know more. Share with your friends to let them know more.

Vanshanu raj
Vanshanu Raj is Computer Science Graduate from College of Engineering Roorkee & a Diploma Holder from Government Polytechnic Dehradun. He lives in Dehradun working as a security engineer in a mid sized IT company. As he always wants to aware people with Open Source Software & thier uses.

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