1. Amount of coins produced
Bitcoin network has and will reach the maximum of 21 million coins, whereas Litecoin is with 75 million coins. This difference does not indicate that Litecoin is more robust than Bitcoin. Though, both Litecoin and Bitcoin have the same divisibility of up to 8 decimal points.
2. Transaction processing time
Bitcoin transaction confirmation takes about 10 minutes per transaction, while Litecoin is 2.5 minutes. This difference, however, does not indicate that Litecoin is better than Bitcoin as this factor depends on the block confirmation time by the miners and Bitcoin users as well as the market size which is smaller in Litecoin.
3. Amount of users
Obviously, Bitcoin has more users than Litecoin. In other words, the network slows down when there are a lot of users at a time.
4. Function
Litecoin makes use of a new Hash function known as Scrypt, while Bitcoin uses the SHA-256 even though both coins use Proof of Work as a “Mining” & Validation scheme. The process of confirming transactions requires substantial computing power to protect the network from a hardware attack.
5. Hardware system
The downside is the mining machine, especially the FPGA & ASIC (Application Specific Integrated Circuit) will cost more which makes mining more difficult and will push the price higher.
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