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What Is The Difference Between Bitcoin and Litecoin?

While being similar, there are many differences between Bitcoin and Litecoin.

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In 2009, Satoshi Nakamoto coded and launched bitcoin as the world’s first ever cryptocurrency. The code is open source, which means it can be improved upon and modified by absolutely anyone and freely used for other projects.

Since, then, many cryptocurrencies have launched with modified versions of this very code. Some have been very successful while others have failed to last.

Litecoin was announced in 2011 by former Google employee Charlie Lee with the goal of being the ‘silver’ to bitcoin’s ‘gold’. At the time of writing this article, Litecoin has the highest market cap of any mined cryptocurrency, after bitcoin.

Here’s our guide to show you the crucial difference between bitcoin and litecoin.

Bitcoin Vs. Litecoin At-a-glance differences and similarities

bitcoin litecoin
Coin limit 21 Million 84 Million
Algorithm SHA-256 Scrypt
Mean block time 10 minutes 2.5 minutes
Difficulty retarget 2016 block 2016 blocks
Block reward details Halved every 210,000 blocks. Halved every 840,000 blocks
Initial reward 50 BTC 50 LTC
Current block reward 25 BTC 50 LTC
Block explorer blockchain.info block-explorer.com
Created by Satoshi Nakamoto Charles Lee
Creation date January 3rd, 2009 October 7th, 2011
Market cap $10,467,596,650.78 $540,274,528.26
Bitcoin Statistics Litecoin Statistics
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