We are going to try and answer the question, “Bitcoin vs Litecoin—who wins?” But first, we need to look at what they are and where they came from.
Cryptography and Digital Currencies
Long before anyone could ask about Bitcoin vs Litecoin, there was the birth of cryptography, which led directly to them both and all the other cryptocurrencies too. In the Second World War, cryptography was the key to secure communication on both sides, and the lessons learned by the allies and cracking the famous Enigma code is still bearing fruit today.
Cryptocurrency is one consequence of all the research that went into cryptography, and it can now make monetary assets in online transactions secure while preserving the anonymity of the parties involved. So the supremacy of Bitcoin vs Litecoin becomes a question that currency miners want to answer. Which one should they invest in?
2009 marked the invention of digital currency by Satoshi Nakamoto. Bitcoin inaugurated the whole field as the very first cryptocurrency, and the markets have never been quite the same since. Bitcoin runs on open source code, so the user can modify or use it for many projects.
Two years later, ex-Google staffer Charlie Lee thought up a different version of the Bitcoin template, calling it Litecoin. It’s got many similarities with Bitcoin, but it also has a few tricks of its own that put it ahead in the question of which is better, Bitcoin vs Litecoin. Despite the fact that these two methods of mining use similar networks, Litecoin edges ahead for these reasons:
it’s got four times the transaction capacity of Bitcoin
it uses Segwit, a software update that increases network capacity by a hundred percent.
Litecoin can generate a block in just 2.5 minutes against Bitcoin’s 10 minutes.
Bitcoin’s mining process takes a ton of time and makes block generation harder too. Litecoin mining is much easier.
Litecoin’s hashing rate is 95,642 per second, while Bitcoin’s as just 20,000.
Litecoin handles more data and transactions in comparison to Bitcoin
Bitcoin vs Litecoin — The Last Word
All that said, at the end of the day, Bitcoin attracts more miners because it’s easy to acquire, to buy, and it’s available on every crypto exchange. It uses a parallel processing system (SHA-256 hashing), while Litecoin calculations rely on serial processing (SHA-256 scrypt). The former process is considered to be more secure, which means that overall, on the question of Bitcoin vs Litecoin, bitcoin wins (for the moment).