Litecoin (LTC) and Bitcoin Cash (BCH) has always been on the headlines for their achievements and developments. Both of them have gone through forking events, as and when needed. The similarity between Litecoin and Bitcoin Cash is that both are forked from the original Bitcoin (BTC). They have their uniqueness in their vision, but both of the Bitcoin forks were being created to address the shortcomings of the world’s largest cryptocurrency.
Both- Bitcoin Cash and Litecoin were being created to overcome the hurdles faced by Bitcoin, such as scalability, slower transactions, high transaction fee, etc. Litecoin has been created to provide an alternative global payment system that is fast, secure, and having a low fee. Bitcoin Cash was created with the aim of fulfilling the original aim of Bitcoin as “Peer to peer electronic cash”.
Litecoin is upgraded with the Sefwit protocol, which enables to increase the allocated space on the block by stripping off all the transactions on the block of their signature data. Hence each block has a storage capacity of around 4X, which is the reason teh size of Litecoin has grown from 1 MB to 4 MB. Bitcoin Cash initially had a storage capacity of 8 MB, which can be enhanced to 32 MB. More apps get developed on the Bitcoin Cash platform than Litecoin, some of which are Centbee, Blockpress, Memo Cash, etc.
The transaction speed of Litecoin is faster than that of Bitcoin Cash. While LTC consumes 150 seconds to process one block, Bitcoin Cash takes 600 seconds to do the same block processing. On the other hand, Bitcoin Cash permits a cheaper transaction fee of $0.0043, and that of Litecoin is $0.021.
Bitcoin Cash is trading at $223.65, with a market capitalization of around $4 billion and a circulating supply of around 18 million BCH. Litecoin is trading at $39.26, with a market capitalization of around $2 billion and a circulating supply of around 64 million LTC.
Both have its set of unique objectives, with pros and cons. They are the top cryptocurrencies as per the market capitalization.
Litecoin might surge higher if it goes through the developments as expected. You can check out the detailed Litecoin price prediction here.
Litecoin has been considered a very worthy cryptocurrency, but if you want to invest, you must do some thorough research analyzing its past trends.
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