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MarkRoberts
Bronze Bitcoiner
Bronze Bitcoiner
Posts: 483
Joined: Wed Jan 13, 2021 10:19 am

what is the unique selling point of Litecoin?

Thu Mar 25, 2021 10:45 am

Litecoin is faster but sacrifices security. It sacrifices in two ways: shorter block times and less hash power than the Bitcoin network. Bitcoin is far more secure but slower.

Litecoin mining uses script instead of SHA256. This isn't terribly important but it is worth considering for a few reasons. For example, Bitcoin miners cannot direct their hash power towards the Litecoin network, whereas they could direct it towards something like Bitcoin Cash. This means things like BTC miners can't switch to LTC nor attack the network. Relevant because the BTC network has so much hash power. The biggest takeaway here, I suppose, is that LTC mining exists outside of the "game" with the biggest player (BTC mining)

Developers might do something unique with Litecoin to make it different than Bitcoin. So far, they haven't. But I guess they could.

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