Litecoin more than bitcoin

The goal was to make the Litecoin network more accessible to individuals, who are the biggest proponents of the coin. So it was extremely important for individuals to be able to mine litecoin with their CPUs in the beginning. On average, new blocks on the Litecoin network are generated about every 2. For each block generated on the Litecoin blockchain, miners are rewarded with a predetermined amount of LTC, known as a block reward.

This 4x increase in blocks per halving period means that Litecoin generates four blocks for every one block that Bitcoin generates. Theoretically, this compensation mechanism should keep Litecoin and Bitcoin on a similar trajectory, with a halving event taking place every four years for both cryptocurrencies. The math also reveals that there will ultimately be a greater total number of LTC than BTC — 84 million versus 21 million. Litecoin Is a Complement to Bitcoin, Not a Competitor With faster block times and higher transaction throughput, Litecoin was built to be a more practical and scalable medium of exchange, whereas Bitcoin has grown more into a store of value.

Ready to put your crypto knowledge to work? Get started with Gemini Cryptopedia does not guarantee the reliability of the Site content and shall not be held liable for any errors, omissions, or inaccuracies. The opinions and views expressed in any Cryptopedia article are solely those of the author s and do not reflect the opinions of Gemini or its management.

The information provided on the Site is for informational purposes only, and it does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. A qualified professional should be consulted prior to making financial decisions. Please visit our Cryptopedia Site Policy to learn more. Through halving, the miner reward for successfully recording new blocks to the Litecoin blockchain is decreased halved at regular intervals.

Over the past few years, that reward has decreased via halving to The next LTC halving is expected to happen in How Is Litecoin Used? Litecoin is highly liquid, which makes it a crypto for easier trades. In fact, Litecoin holders will find that merchants such as Newegg, SlingTV and even nonprofits like the American Red Cross are happy to accept their cryptocurrency.

At the time of this writing, Bitcoin transaction fees were significantly higher, at around 3. There are also newer cryptocurrencies with faster TPS speeds. Should You Buy Litecoin? While Litecoin remains one of the most-traded cryptocurrencies, does it make for a sound crypto investment?

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