Could Litecoin Be a Better Investment Than Bitcoin?

For the majority of Bitcoin history there has been little reason to hold alts that attempted to compete with BTC, but that’s no longer true.

Stronger network effects give BTC more utility and since the cost of using BTC has been relatively low for the majority of its history, it’s been hard for other chains to get off the ground. In 2017 we began to see the initial effects of how a second chain would be utilized as fees rose on BTC transactions, which in turn spurred Litecoin adoption. Below shows LTC transactions vs BTC transactions since the beginning of 2017:

Only 2 Differences Between BTC & LTC at Launch

Quicker Block Generation

Litecoin has a block time of 2.5 minutes, compared with 10 minutes for Bitcoin. This means that transactions involving Litecoin will be confirmed four times faster than those for Bitcoin, which may be preferential to users as they do not have to wait as long to start seeing confirmations. This does not however mean that Litecoin is more secure because it receives faster confirmations since the weight of those confirmations is much less.

Mining: Scrypt vs SHA-256

While Litecoin and Bitcoin share the proof of work concept when it comes to their mining operations, the algorithms that the two blockchain systems use are different.



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