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How Litecoin Is Different from Bitcoin

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litecoin vs bitcoin

Litecoin: The Public’s interest has reached new heights as digital currency is surging with time. It has not only made people digital maniacs but has also made them multi-millionaire. The interest of the investors has been witnessed to be more drawn towards this field. More focus has been on bitcoin since it is synonymous with expanding people’s electronic wealth and allowing them to make millions. Since the inauguration of bitcoin, many cryptocurrencies have been found to root from the same currency either by a fork or by an altogether new formation.

Litecoin is one such spin-off of the bitcoin cryptocurrency and is also an altcoin. Altcoin terminology is used for all those cryptocurrencies that are not bitcoin. Being a spin-off of bitcoin and also making its work through the same verification method and blockchain, there is still some radical difference amongst both these cryptocurrencies. These differences will allow you to make better choices in terms of opting from amongst both these cryptocurrencies. If you are interested in bitcoin trading visit Yuan Pay Group


BTC is the first electronic currency to be introduced to the digital world. From being an innovation, it has got its varied usage. Its basic idea is to follow decentralized practices along with indulging its community for doing the computational work and securing controlled databases which are also termed as blockchain.

  • Its working mechanism follows the POW method for making consensus among the parties to a network.
  • The hash function used is SHA-256 for encryption. At a prescribed length, inputs are converted to outputs with the help of its help function.


Litecoin debuted in the year 2011 and is defined as being the “lite version of Bitcoin” by its founder Lee. He spoke about this cryptocurrency via a comment made on the forum of bitcoin. Since bitcoin’s inclination was toward becoming centralized, Litecoin was released as an action against it. Certain features of BTC have been adopted in LTC as well since they were found to be working consistently in its opening stage. Some of its attributes are:

  • The working mechanism used by this cryptocurrency is proof of work.
  • For carrying out its hashing work, it utilizes Scrypt. Although it uses SHA-256 its memory is higher for utilizing proof of work mechanism.

Some Basic Differences

1. Both utilize the different hash functions on their network. BTC utilizes SHA-256 and LTC uses Scrypt.

2. There is a huge difference in terms of capital generated by both currencies in the market. Both share a huge gap in terms of their demand and supply. As bitcoin is more preferred by the people there is a huge gap in the capital generated by both currencies.

3. Coin production is also one main difference amongst both of them. Although production is banned beyond a certain point, still the difference is big. BTC is capped at 21 million productions and LTC at 84 million.

4. Although both the currencies can process a transaction at a higher speed when it comes to confirmation, BTC transactions take more time. This delay is due to the lack of BTC in the market that ends up creating congestion on the network. For BTC the time taken is around 9 minutes whereas for LTC it is 2.5 minutes.


The data shared in the blog above speaks about two similar cryptocurrencies that have many similarities as well as discrepancies. The blog has been written to make your insights better in terms of adoption amongst both cryptocurrencies. The information given in this blog will make your choices very accurate when you are confused as to which type of currency you should choose at which time.


Also Check:

5 Harsh Truths About Cryptocurrency Investing You Need To Know

Understanding Crypto Hacking and Cybersecurity Issues in 2022

How Do Crypto Wallets Work? An Analysis By Top 10 Experts



Salman Ahmad is a seasoned writer for CTN News, bringing a wealth of experience and expertise to the platform. With a knack for concise yet impactful storytelling, he crafts articles that captivate readers and provide valuable insights. Ahmad's writing style strikes a balance between casual and professional, making complex topics accessible without compromising depth.

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