What Makes Litecoin Different?
Speed
Litecoin is based on the same open source code behind bitcoin, with some notable differences. Created by engineer Charlie Lee to be the silver to bitcoin's gold, one of the main disparities between the two cryptocurrencies lies in their transaction speeds.
Because it generates blocks about four times faster than bitcoin, litecoin can confirm the legitimacy of transactions a lot quicker as well as process a much higher number of them over the same time frame.
For more information about how blocks are created and transactions are confirmed, be sure to read our primer on blockchain technology – which functions as the underpinning of litecoin and most other p2p virtual currencies.
Number of Coins
One of the reasons some cryptocurrencies hold intrinsic value is because of their limited supply. Once a certain number of bitcoin (btc) or litecoin (ltc) are created, that's it.
There can be no more new coins at that point.
While bitcoin has a limit of 21 million coins, litecoin will max out at the 84 million mark.
Market Cap
Although its market cap pales in comparison to bitcoin, litecoin still ranks among the top 5 cryptocurrencies at the time of publication.
These rankings fluctuate based on price and number of coins in circulation.
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