Since we love our cryptocurrencies, today we decided to publish this awesome infographic about two of the biggest and most famous digital coins in the world: Bitcoin and its “relative” Litecoin. While one is better at some things and the other wins in other fields, they are both extremely important to the world of cryptocurrency.
The story of Bitcoin is usually more famous, mainly because of the mysterious figure behind its creation. This virtual coin was born in 2009 thanks to the genius of the anonymous Satoshi Nakamoto, who created a decentralized digital currency and managed to achieve one of the biggest breakthroughs in the world of software and technology in the last years. Or even maybe in the last decades.
Thanks to the amazing protocol created by Nakamoto and to the peer-to-peer technology that operates without a central authority, Bitcoin enables instant payments to anyone, anywhere on the planet. After four years of life, this cryptocurrency keeps thriving and its growth seems unstoppable by now, with several online and physical businesses across the world accepting Bitcoin as a form of payment, and you can even buy Bitcoin with PayPal.
And what about Litecoin? This virtual currency is often seen as a member of the Bitcoin family, like we said before by using the term “relative”. Much like its bigger “cousin”, this cryptocurrency uses is based on a peer-to-peer system and also enables instant payments to anyone and to anywhere. Created in 2011, Litecoin is also different from Bitcoin in some ways, since it can be efficiently mined with less effort and its transactions can be confirmed in less time. The cryptocurrency also uses a scrypt-based mining proof-of-work algorithm that makes the whole system a lot more efficient. As you can see, and for the more distracted people, Bitcoin and Litecoin are very different and yet very similar, so let’s take a look at this infographic and dissolve any doubt you might have.