What is Litecoin

Litecoin is a peer-to-peer decentralized cryptocurrency based on an open-source protocol.

Litecoin was created by former Google employee and MIT graduate Charlie Lee in 2011 and it was designed to be the silver equivalent to Bitcoin’s gold. 

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Litecoin is a fork of Bitcoin with some important differences, such as its use of the Scrypt algorithm which allows mining with 

consumer-grade hardware

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Litecoin has been used by many people as a way to invest in cryptocurrency without having to buy Bitcoin because it has lower transaction fees and faster confirmation times.

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Litecoin coin profile

Litecoin is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. 

The coin was created by Charlie Lee, a former Google employee. It is based on an earlier open source release called Bitcoin and uses many of its symbols and rules. Litecoin also uses the proof-of-work consensus mechanism.

Litecoin was created in 2011 to address some of these issues, with the goal of producing a lighter-weight currency to allow for faster transaction confirmation times. 

Litecoin has almost zero payment cost and facilitates payments approximately four times faster than Bitcoin.

What is Ethereum?

Ethereum is an open-source, decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference.?Buy on Amazon

Ethereum was created by Vitalik Buterin in 2013 and had its initial release in 2015. 

The Ethereum network is made up of thousands of computers around the world running the Ethereum software. 

These computers are called nodes and it is these nodes that create the blockchain – a public ledger of all transactions on the Ethereum network.?Buy on Amazon

When a new block is created, it includes a link to its predecessor block and this makes up the blockchain that records every transaction that has ever taken place on Ethereum.

Ethereum coin profile

Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract functionality. It provides a decentralized virtual machine that can execute scripts and be used to develop and run distributed applications.