Introduction
Litecoin is one of the most popular cryptocurrencies in the market, and it has been around since 2011. However, in 2018, a new fork of Litecoin was introduced called Litecoin Cash. While both coins have a similar name and are based on the same code, there are some significant differences between the two. In this article, we will compare Litecoin Cash vs Litecoin and highlight the key differences between them.
Background
Litecoin Cash was created on February 18, 2018, as a hard fork of Litecoin. The primary goal of the creators was to improve the speed and scalability of the original Litecoin blockchain. They achieved this by increasing the block size four times, from 1 MB to 4 MB. This change allowed more transactions to be processed per second and reduced the transaction fees.
Block Time
The block time for Litecoin is 2.5 minutes, while the block time for Litecoin Cash is 2.5 minutes. This means that both blockchains can process transactions at the same speed. However, Litecoin Cash has a higher maximum block size, which allows it to handle more transactions per block.
Algorithm
Litecoin and Litecoin Cash both use the Scrypt algorithm for mining. However, the mining difficulty for Litecoin Cash is adjusted every block, while the mining difficulty for Litecoin is adjusted every 2016 blocks. This means that miners can switch between Litecoin and Litecoin Cash more easily, based on which one is more profitable at any given time.
Supply
The total supply of Litecoin is 84 million coins, while the total supply of Litecoin Cash is 840 million coins. This means that there are ten times more Litecoin Cash coins in circulation than Litecoin coins. However, both coins have a similar inflation rate, with Litecoin having a 4% annual inflation rate, and Litecoin Cash having a 10% annual inflation rate.
Adoption
Litecoin has been around for almost a decade and has gained widespread adoption among merchants and consumers. It is accepted by many online and offline retailers and can be used to pay for goods and services. On the other hand, Litecoin Cash has not gained as much adoption as Litecoin and is not accepted by as many merchants.
Conclusion
In summary, Litecoin and Litecoin Cash are both based on the same code and have similar features. However, there are some significant differences between the two, such as the block size, algorithm, and total supply. While Litecoin has gained widespread adoption and is accepted by many merchants, Litecoin Cash has not gained as much adoption and is not as widely used. Ultimately, the choice between the two will depend on individual preferences and investment strategies.