Dash (DASH) and Litecoin (LTC) are considered as the potential cryptocurrencies that have their individual purpose, advantages, features, and flaws. Dash was originally released as XCoin in January 2014, and the month after got renamed as the Darkcoin. In March 2015, it got rebranded as Dash advocating itself as the peer to peer privacy-based, decentralized electronic cash. Litecoin was created in 2011 by Charlie Lee and advocated itself as the peer-to-peer digital currency enabling near-zero, instant cash payments to anyone across the world.
Litecoin uses the Scrypt hash algorithm, which was specifically designed to perform large-scale custom hardware attacks by needing large amounts of data. Dash uses a chained hash algorithm known as X11, used for Proof of Work (PoW) calculations. Chained algorithms make Dash mining easier than other cryptocurrencies. For instance, GPUs require 30% less electrical energy than Litecoin and even heated 30% to 50% lesser.
Litecoin is not associated with privacy, is completely transparent with its transactions, the amount being sent or received is publicly viewable. While Dash is known as a privacy coin, which makes your transactions private and not publicly accessible. It mixes the user’s transaction with other transactions, wherein a server called “masternode” enables to expedite the mixing process.
In the case of Litecoin, the block reward goes to the miners, but in case of Dash, the block reward gets split into different recipients like - 45% goes to the miners, 45% goes to the master nodes, and 10% goes to the treasury. For Litecoin mining, the node operators cover the cost of running a full node, but for Dash, the node cost is subsidized by block reward.
Litecoin can handle around 56 transactions per second, and the transaction fee for LTC is 0.001 LTC. Litecoin can decrease its transaction fee and increase its speed with the help of the lightning network, which enables instant transactions with the lowest fee. Dash is ahead in terms of the transaction speed because of InstantSend, which enables the users to send payments for confirmation in less than a second. As per some of the developers, the transfer fees of Dash enables more use cases of this crypto.
Currently, Litecoin is trading at $41.79, with a market capitalization of around $2 billion and a circulating supply of around 64 million LTC. Dash, on the other hand, is trading at $68.60 with a market capitalization of around $644million and a circulating supply of around 9 million DASH.
DASH might reach a higher value by the end of 2020. You can check the detailed DASH price prediction here.
Dash and Litecoin have been created for specific purposes. Both of them are unique and have the potential for growth.
We have shared the major differences between Dash and Litecoin above. The most important difference is that Dash is a privacy coin, and Litecoin isn’t.
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