would need to wait nearly four times as long to confirm payment as if that same product were sold in exchange for Litecoin. (You can view current market caps in the table above to see how theyve changed since this article was published.) Litecoin functions like Bitcoin : It is an online payment system that uses cryptocurrency instead of a national currency like.S, dollars, Bitcoin and Litecoin. It has immense parallel processing power. Key Differences Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. You might be thinking, So why are we talking about Litecoin? As cryptocurrencies, they both garner a similar community and image, as well as rely on similar cryptographic principles. It is necessary to bear in mind that a transaction is instant, it is just confirmed by the network as it propagates. Special Considerations By far the most fundamental technical difference between Bitcoin and Litecoin are the different cryptographic algorithms which they employ.
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Bitcoin runs on the SHA-256 algorithm and Litecoin runs on the Scrypt algorithm. Among these, one name which has garnered increasing interest. Many people are familiar with Bitcoin but have now become aware that many other cryptocurrencies also exist. When we consider that. Despite this parity, Litecoin s greater number of maximum coins might offer a psychological advantage over Bitcoin, due to its smaller price as of yet for a single unit. . Algorithms, bitcoin uses an algorithm called SHA-256. However, Litecoin has developed a user base from those who are skeptical of some aspects.
As of February 24, 2019, Bitcoin s market capitalization sits at roughly 67 billion,.
A market cap.7 billion for.
Whether, bitcoin s market cap strikes you as either high.
Bitcoin, or, litecoin : a Comparison of, bitcoin (BTC) and.
Which one is a better investment?