Litecoin is different from Bitcoin in a few key ways:
Faster transaction processing: Litecoin’s block generation time is approximately four times faster than Bitcoin’s, which means that transactions can be confirmed more quickly.
Different mining algorithm: Litecoin uses the Scrypt mining algorithm, which is designed to be more memory-intensive and ASIC-resistant than Bitcoin’s SHA-256 algorithm. This means that Litecoin can be more easily mined by individuals using consumer-grade hardware.
Greater supply: Litecoin has a higher total supply than Bitcoin, with a maximum of 84 million coins compared to Bitcoin’s 21 million.
Different transaction fees: Litecoin’s transaction fees are typically lower than Bitcoin’s, making it more cost-effective for smaller transactions.
Different development teams: While Bitcoin and Litecoin share some code, they are developed by different teams with different goals and visions for their respective cryptocurrencies.
Malcolm O'Mahony
