​Is It Worth Purchasing Litecoin?

Viral in cryptocurrency trading, Bitcoins (BTC) and Litecoins (LTC) are valued the most in the industry. The thing is, does LTC deserve it？

As a matter of fact, LTC clones the source code (SC) of BTC and adjusts some of its parameters. As such, what are the differences between these two cryptocurrencies？

To begin with, their algorithms are different. Although both adopt the Proof of Work (PoW), a decentralized consensus mechanism, the Scrypt algorithm is implemented for LTC mining while BTC employs SHA-256. Therefore, it was easier to mine LTC when general computers were used for cryptocurrency mining.

In addition, the block hashing of LTC is faster than that of BTC. It takes the latter 10 minutes for a block while the figure is about 2.5 minutes for the former. As a result, LTC gratifies the need for small, instant payments.

Whats more, the total number of LTC is more than that of BTC. The figure for the former is around 84 million, and the latter 21 million.

In short, LTC can be seen as the most successful knock-off!

Is it worth investing in LTC？ As one of the mainstream cryptocurrencies, LTC is better than the majority of knock-offs. Hence, it is unproblematic to buy the coin if traders are optimistic about its prospect. However, please dont invest with large positions. No more than 20% of the total position is sufficient in this purchase.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects to protect you from hidden dangers in the risky industry!