Bitcoin vs Litecoin: A Quick Comparison$BTC
$Bitcoin and Litecoin are two popular cryptocurrencies that operate on decentralized blockchain technology. Bitcoin, created in 2009 by the mysterious Satoshi Nakamoto, was the first cryptocurrency and remains the most valuable and widely known. It serves primarily as a store of value, often referred to as "digital gold."
Litecoin, launched in 2011 by Charlie Lee, is often called the "silver to Bitcoin’s gold." It was designed to be faster and more efficient for everyday transactions. While Bitcoin takes about 10 minutes to confirm a block, Litecoin does so in just 2.5 minutes. Additionally, Litecoin uses a different hashing algorithm (Scrypt) compared to Bitcoin’s SHA-256.
Both currencies have limited supplies—21 million for Bitcoin and 84 million for Litecoin—making them deflationary by design. While Bitcoin is more widely adopted and held, Litecoin remains a reliable and accessible alternative for smaller, quicker transactions in the crypto space.