Is bitcoin cash better than litecoin

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It does not matter if we talk about market cap, price, daily trading volume, or even popularity, Bitcoin wins by every metric and is considered the godfather of all digital assets. But the thing is, Bitcoin is not as efficient as you might think. As it was the first ever cryptocurrency, there were a few aspects that were not taken into consideration that make the whole Bitcoin ecosystem slow and inefficient when compared to what we have right now in the financial industry.

For that, assets like Litecoin and Bitcoin Cash were introduced in order to counter the flaws of Bitcoin and bring a revolution to the crypto industry. There are crypto projects that have made accessibility easier, some come with lower fees, some are very fast, and some are more profitable when it comes to mining.

But what about Litecoin and Bitcoin Cash? Which one should you explore in , and which is a more promising project to invest in? The history of Litecoin and Bitcoin Cash Bitcoin Cash is a relatively newer coin as compared to Litecoin, which was released over a decade ago, in Bitcoin Cash was released in , and it is considered the better version of Bitcoin. Bitcoin Cash was invented with a few aims in mind, and one of them was to improve the scalability factor of Bitcoin, which was well below average.

Litecoin is a digital asset created by a former Google employee. Key metrics of Litecoin and Bitcoin Cash Before we hop on to deciding which coin is better in , it is better to first evaluate the technical information of both of these coins and see what they each have to offer. It has been down 6.

Litecoin has a total supply of 84 million coins, and over 70 million coins are circulated in the market. Do remember that all the details mentioned above may differ by the time you read this article. This is probably because of the fact that Bitcoin Cash has a maximum supply of 21 million coins, much less than Litecoin.

As for its price change in the past 24 hours, Bitcoin Cash is down by almost 7. Technical analysis of Litecoin and Bitcoin Cash You should now have a pretty good idea about the market conditions of both the digital assets, but what about the technical analysis? For that, we will have to dive a little deeper into the details and see how Litecoin and Bitcoin Cash work. Transaction processing time One of the most important aspects of any cryptocurrency that is designed to make the payment system better, is how fast and efficient it is.

Simply put, how much time does an asset take to create a block or process the transactions on the network? But wait a minute, if BCH is the successor of BTC, and it was developed to improve the financial system of the previous generation's coin, then why is the block generation time the same as before? Well, the thing to note here is that the block generation time might be the same, but BCH can carry much larger blocks or transactions at the same time and contain them, which Bitcoin cannot do.

Also, the overall transaction time depends on the number of confirmations required by the platform you are processing the transaction through. Most platforms require confirmations from anywhere between 5 to 12, which can take up to minutes overall. But in case of users deciding to go with zero-confirmation transactions, BCH transfers are instant and hassle-free and simply obliterate the system that was created by BTC.

It takes only 3 to 4 minutes for a block to be created with LTC, but again, the overall transaction time might vary depending on the number of confirmations required by the platform or exchange. Litecoin utilizes a relatively diverse Proof of exertion mining consensus mechanism transaction verification mechanism than Bitcoin, furthermore has a faster transaction time. Bitcoin Cash can process more transactions than Bitcoin due to its immense block size more transactions per block, or group of transactions.

Litecoin vs. In other words, it takes about 10 minutes for a new transaction to be processed and added to a new block of BCH transactions. Although if you would like to wait for a transaction to be fully confirmed on the BCH network, it will hold between 20 and 60 minutes, depending on how numerous block confirmations the number of new blocks adding yours the merchant requires. In discussing Bitcoin Cash is faster than Bitcoin, citizens are generally consulting to zilch confirmation transactions genuine transactions without having to be confirmed by the network.

Litecoin generated a new block any two to three minutes. The tempo of a transaction is positive by how countless confirmations a merchant requires. Kraken, for example, needs 12 confirmations before Litecoin deposits seem in customer accounts. It intends a deposit time of about 30 minutes. Litecoin merchants may accept just one or two confirmations, so a clearing time of 3 to 6 minutes is possible.