Knowing Litecoin and Ethereum better

Did you ever think that we would be using digital cash for our everyday transactions not too long from now? Are you unable to envision the future of these digital currencies we are dealing with today? Technology has been changing our world for good. It has brought a lot of new things into existence, including the cryptocurrencies we are using today. Every month, the markets see the birth of new currencies, and many experts anticipate that these currencies will be a permanent feature of our future world. 

Litecoin and Ethereum in the cryptocurrency coin pile

Many people today have a strong understanding of these cryptocurrencies and deal with them every day. If you are unaware of what cryptocurrencies are and how they work, you can learn more by checking out videos on various online streaming platforms. Many creators use a random shape generator to create graphics that help you learn these abstract concepts easier. 

Two of the strongest currencies in the market currently are Etherium and Litecoin. Apart from their value, their circulation and mining also play an important role. But before going any deeper into this, let us first understand more about both these coins.

What is Litecoin?

Litecoin was introduced in 2011 as a clone of Bitcoin; it also shared the same code base. However, there are a few distinct properties of Litecoin. Litecoin has a finite supply of 84 million coins. Litecoin stands true to its name ‘Light-Coin’ because it can be mined 4-times faster than Bitcoin.

What is Ethereum?

Ethereum (ETH) was released in 2013 by a Toronto programmer and a Bitcoin enthusiast. These two persons released a white paper in the same year that showed that this coin had a lot of potential because it used an alternative technology called the blockchain. This would help it become a financial instrument as well as a decentralizing platform. 

Similarities between Litecoin and Ethereum

Apart from the fact that these two are cryptocurrencies, there are a few more similarities between them, and they are listed below:

  • The SaaS based trading platforms of Litecoin and Ethereum are the same. They are traded on Coinbase. This is the stock exchange counter of cryptocurrencies.
  • Both Ethereum and Litecoin provide quick transactions.
  • It is easier and quicker to mine these coins. 

Difference between Litecoin and Ethereum

  • The market capitalization of both these coins differs significantly.
  • The coin supply of both these cryptocurrencies is different. 
  • They also have different mining speeds. 

The entire crypto market is very volatile, making it difficult for people to judge the market’s future. Not only do these currencies get listed on the exchange, but many get delisted as well. But when it comes to these two coins, you can rest assured that they will have a bright future. 

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