Litecoin vs Bitcoin

Litecoin vs Bitcoin

In recent weeks, the world of Cryptourrency has focused on the issue of the Bitcoin ETF, a theme that, with BAKKT’s introduction, has been further driven since its platform is much like that of this family of financial instruments.
However, if BTC appears to be a winning investment tool, will it be used as a payment method? The possible fight between LTC and BTC seems to be a clash between close relatives...
Recently, Charlie Lee, the creator of Litecoin, in fact, confirmed that his idea had been inspired by his older brother, Bobby Lee, and explained that, according to him, BTC, together with ETH and its creation are the general trend indicators of the Cryptourrency market.
From a technological point of view, their fundamental difference lies in the cryptographic algorithms they employ. Bitcoin uses the SHA-256 algorithm, while Litecoin uses a relatively new algorithm known as Scrypt.
This difference has a direct consequence in the new currencies extraction process, as well as extraction time: 2.5 minutes for LTC against 10 minutes for BTC. At the same time, the introduction of the 0.17 LTC update will drastically reduce transaction costs.
Lightning Network wants to improve BTC's scalability, but it is a new structure, which will be built almost from scratch, with a minimum capacity that does not permit to exceed the one-million-dollar ceiling (peak) (currently they hardly go above 700 000 dollars). Even now, the number of LTC’s transactions are much lower than those of BTC.

Litecoin much more centralized

To be precise, Bitcoins’ transactions are approximately 260,000 within 24 hours while those of Litecoin are 24000. In addition, the Litecoin market is much more subtle than the Bitcoin, in fact, 36.43 times less than the "digital gold ".
But, without the implementation of the new software, Litecoin has a very low transaction commission value:
The cost of an average Litecoin transaction is about one tenth of the equivalent value for Bitcoin, and the difference will increase.
Unfortunately, Litecoin’s concentration is much greater than that of Bitcoin. In fact, if we consider the quantities managed by the main wallets, we have:

Litecoin
The first 10 wallets have 13.97%.
The first 100 wallets have 44.53%.
The first 1000 wallets have 62.50%.

Bitcoin
The first 10 wallets have a 5.38%.
The first 100 wallets have 18.95%.
The first 1000 wallets have a 35.86%.

This means that Litecoin holders are much more centralized and therefore more prone to price fluctuations if a big investor decides to sell.
It should be mentioned that LTC owners seems to be very interested in long-term investment while waiting for the network to grow and develop more.
Every day there is news about the use of Litecoin as a payment instrument, for example, Litecoin recently joined the jewelers of the Marks Jewelers’ chain, or just a few days ago, Wirex announced his prepaid card also linked to the Litecoin purse.

 

Do you want to invest in cryptocurrencies?

We offer you the weekly portfolio CryptoFIB30, in a PDF format. A portfolio of cryptocurrencies with high earning prospects, suggested by our staff (the dates and purchase prices for the reported crypotos in addition to operative signals - when to sell or keep - are indicated).

Bitcoin Future: for those who prefer, instead, to follow the derivative, Bitcoin Future is analyzed, quoted on the CME, with the indication of important levels and operative targets of purchase/sale with a weekly perspective.

Pay

Risk warnings
The views and opinions expressed are the views of Crypto Currency 10 and are subject to change based on market and other conditions. The information provided does not constitute investment advice and it should not be relied on as such. All material(s) have been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy of, nor liability for, decisions based on such information.
Changes in rates of exchange may have an adverse effect on the value, price or income of an investment.
Past performance is no guarantee of future results and the value of such investments and their strategies may fall as well as rise.

Changelly 240x400

BANANA00

Coinmama-EN

CEX

Binance

binance240x200

Cryptocurrency10.com
Avenida Samuel Lewis, Torre Omega, suite 5D.
Panama.

General: info@cryptocurrency10.com
Customers: customerservice@cryptocurrency10.com
Support: support@cryptocurrency10.com

Phones
Italy: +39 (06) 99335786
Spain: +34 (93) 1845787
Panama: +507 8327893
Panama: +507 8339512
United Kingdom: +44 (203) 6951776
United States: +1 (305) 3402627
Switzerland: +41 (91) 2280356

Urgency:
+507 8339512

Customer service from
02:00 - 06:00 (Spanish, english and italian)
08:00 - 17:00 (Spanish, english and italian)