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
|Coin limit||21 Million||84 Million|
|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|
|Created by||Satoshi Nakamoto||Charles Lee|
|Creation date||January 3rd, 2009||October 7th, 2011|
|Bitcoin Statistics||Litecoin Statistics|