|Crypto Score||Application||Industry||Liquidity||Volatility||Volume||Marketcap||Volume (24h)||Supply||Last 24h|
Released in October of 2011, Litecoin was created by MIT graduate Charlie Lee. Described as “Silver to Bitcoin’s gold”, LTC was created from Bitcoin’s open-source platform and uses many of Bitcoin’s core support functionalities. The key difference arises in the nature of the network. Litecoin allows for a coin limit of 84 million coins, 4 times of what Bitcoin allows. Additionally, the transactions process with a mean block time of just 2.5 minutes, roughly 4 times faster than Bitcoin’s block time. Litecoin is written in “Scrypt” algorithm, which is RAM favorable and isn’t as prone to a mining arms race as BTC is. Litecoins larger blockchain explained does allow for faster and larger transactions, but the downside is the blockchain info is much larger overall than other comparable networks.
|Average Blocktime||2.32 minutes|
|Median Transaction Fee||$0.39|
|Coin Circulation Limit||84 million|