Full disclosure, my first cryptocurrency purchase was litecoin and I’ve been an advocate ever since. There is a possibility that I have a bit of a bias towards litecoin. I’ll do my best to provide you with unbiased info
I’m the type of person that always roots for the underdog. They always carry more passion and determination that anyone that has already made it. That raw and uncut grit makes underdogs have the potential to bring down the big dogs.
When I started reading about blockchain and cryptocurrencies litecoin was the coin that I felt was the underdog. It sat in the shadows of bitcoin. Litecoin had everything and more than bitcoin did. It had everything to prove and nothing to lose.
Litecoin’s creator Charlie Lee took the original code from Bitcoin and tweaked it to create litecoin.
His idea was to take bitcoin and make it faster, better, and cheaper. All three of his original goals still hold true till today.
Here is a quick bitcoin to litecoin comparison
- Peer to Peer Open Source Cryptocurrency
- 84 million coins can be mined vs 21 million
- 4x faster than bitcoin
- Block confirmation timings from 10 min to 2.5 min
- Scrypt hashing vs SHA256