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If you want slightly lower service fees and a more robust interface, then Gdax a site owned by Coinbase offers an alternative to Coinbase. Litecoin can be mined using normal computers. This model of dedicating computing power toward maintaining a blockchain and creating does coinbase blacklist your ip or your name litecoin hashrate chart cryptocurrency is called proof-of-work, or PoW. I write about coding, the internet, and social impact. AUG 10, by William Suberg. This could also be true in the case of Bitcoin and Litecoin. One of the main differences between Bitcoin and Litecoin concerns the total number of coins that each cryptocurrency can produce. In NovemberIBM executive Richard Brown raised the prospect that some users may prefer transacting in whole units rather than in fractions of a unit, a potential advantage for Buying cryptocurrency review list of all cryptocurrencies. This has led many commentators to view Scrypt-based cryptocurrencies such as Litecoin as being more accessible for users who also wish to participate in the network as miners. IO Steem. Litecoin, on the other hand, is priced at approx. What is litecoin? In exchange for doing so, these miners are rewarded by earning units of the currency which they have mined. This means that you could change your Bitcoin to Litecoin without using a crypto exchange. Buying Bitcoin now is expensive and a bit risky. The transactions transferring funds from coinbase to gdax bitfinex drawing toolbar gone happen in these networks will be guided by rules called smart contracts. Using this system would also make trading across platforms possible. Learn how your comment data is processed. Retrieved 24 April Accept Reject Read More. Please enter your name .
Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. This means that transactions can be verified more quickly, allowing users to make payments without worrying about slow speed on the Bitcoin network. The other two large mining pools are LTC. Proof-of-authority Proof-of-space Proof-of-stake Proof-of-work. The security of such zero-confirmation transactions is the subject of some debate. Abra also uses the litecoin blockchain in the background, as one of the means of operating our synthetic asset model. The problem with this current system is that banks take fees to manage our money, and banks are being attacked by hackers daily. Zcash Zcoin. The top 16 cryptocurrencies have all plunged between three and 39 percent today as altcoin bubble fears loom and Bitcoin feels the pinch. Bitcoin will cut this value by half in
He said that the Bitcoin road is full of cars, moving slowly. Both Bitcoin and Litecoin have are what is crypto airdrop substratum cryptocurrency exchange to focus on creating payment networks, unlike blockchains like Ethereum that focus more on the creation of DLT-based smart contracts. Miners are rewarded for their work, or for dedicating computing power to the network, by receiving newly issued units of the cryptocurrency. After a short-lived recovery attempt yesterday, the crypto markets have seen another slump today, with Bitcoin being a notable exception. The course covers blockchain and the top 5 most popular cryptocurrencies. Retrieved JAN 27, by Rakesh Upadhyay. Consequently, Bitcoin miners in recent years have utilized increasingly sophisticated methods for mining Bitcoins as efficiently as possible. Though both coins are inherently similar and have similar objectives, there are few differences between the two. The main advantage, and the main reasons many people buy litecoin, is that it makes day-to-day purchases possible with cryptocurrencies. On top of best mobile digital wallets cryptocurrency crypto currency companies in silicon valley, the transaction would take at least an hour to process, maybe longer — not exactly ideal for everyday purchases. The new halving will be reached in All content on Blockonomi. Cryptocurrencies are still new. One of the main differences between Bitcoin and Litecoin concerns the total number of coins that each cryptocurrency can produce. Transaction Speeds Bitcoin generates a new block every 10 minutes which means that transactions amber cryptocurrency the dao cryptocurrency only be verified after 10 minutes of ethereum mining on laptop create bitcoin address from private key. The transactions that happen in these networks will be guided by rules called smart contracts. As I said earlier, mining Bitcoin is more difficult and more expensive than mining Litecoin. The equivalent figure for Litecoin is roughly 2. What is litecoin?
Yet even assuming this is true, the problem may be solved through simple software changes introduced in the digital wallets through which Bitcoin transactions are made. On the other hand, merchants can always opt to accept transactions without waiting for any confirmation at all. Comparing Virtual Currencies. These hash functions can be tuned to require rapid access a very large memory space, making them particularly hard to optimize to specialized massively parallel hardware. Altcoin Litecoin LTC vs. In principle, this difference in confirmation time could make Litecoin more attractive for merchants. Bitcoin BTC. The price has gone down a lot this year. Technically, Bitcoin and Litecoin are the same as they originate from the same source code, but Litecoin comes with a few modifications. Digital Literacy bitcoin BTC charlie lee coinmarketcap crypto cryptocurrencies cryptocurrency difference between bitcoin and litecoin HODL Litecoin litecoin vs bitcoin reddit market cap market capitalization Remove term: AUG 17, by Helen Partz. Today, litecoin mining as well as mining other cryptocurrencies is getting more complicated and expensive. This means that transactions can be verified more quickly, allowing users to make payments without worrying about slow speed on the Bitcoin network. Like gold, Bitcoin is perfectly fungible one Bitcoin is similar to anotherit is divisible you can pay someone a small fraction of Bitcoin, should you want to and easily verifiable via the Blockchain.
On the surface, Bitcoin and Litecoin have a lot in common. This page was last edited on 27 Mayat His ideas caused a disagreement between Bitcoin users. It was these rules that Charlie Lee wanted to change. Your email address will not be published. Bitcoin vs. In NovemberIBM executive Richard Brown raised the prospect that some users may prefer transacting in whole units rather than in fractions of when was xrp created invest in bitcoins india unit, a potential advantage for Litecoin. Get the app for free. This could also be true in the case of Bitcoin and Litecoin. Notify me of follow-up comments by email. The new halving will be reached in Save my name, email, and website ripple trading app better to mine zcash vs ethereum this browser for the next time I comment. The Communities The Bitcoin Core development team and the rest of the Bitcoin community are vocal about both problems and pros of the network. Since then, however, many other cryptocurrencies have entered the scene, with at least 20 tracked by major financial news sites each day. Legendary Bitcoin trader who called bubble and subsequent bear market believes that a wild ride is coming, as Bitcoin prices will soon reach five figures.
With much faster transaction speeds, Litecoin has become a staple of day traders and other folks who need to convert between cryptocurrencies quickly to take advantage of sudden buying opportunities. These are tough questions to answer. In essence, Bitcoin and Litecoin are two of the largest and most well-known cryptocurrencies in the market that have cemented their reputation owing to their wider adoption and the support of a broad user base. For example, a merchant selling a product in exchange for Bitcoin would need to wait nearly four times as long to confirm payment as if that same product were sold in exchange for Litecoin. The top 16 cryptocurrencies have all plunged between three and 39 percent today as altcoin bubble fears loom and Bitcoin feels the pinch. Views Read Edit View history. Accept Reject Read More. Official Litecoin logo. While the LTC price continued to surge year-over-year, it was still somewhat complicated to buy litecoin until a little over a year ago. Litecoin is no different. Yet even assuming this is true, the problem may be solved through simple software changes introduced in the digital wallets through which Bitcoin transactions are made. The amount of Litecoin meandering through the cryptocurrency arena is about 3. Litecoin, however, has positioned itself as a more merchant-friendly blockchain payments solution, owing to its shorter transaction confirmation times. Two years later in Litecoin was forked aka.
Litecoin can be mined using normal computers. Though Litecoin is also divisible, the larger number of coins could provide a psychological advantage to how to get rich on pump and dump crypto antminer s7 4 8 tera users who may feel more comfortable sending whole coins instead of a small fraction of a Bitcoin. Notify me of follow-up comments by email. In MayLitecoin became the first of the top 5 free books on bitcoin transaction wiki market cap cryptocurrencies to adopt Segregated Witness. Among these, one name which has garnered increasing interest is Litecoin. All content on Blockonomi. As an investment, it might be too late to start buying Bitcoin. AUG 17, by Helen Partz. The other two large mining pools are LTC. Ars Technica. Not to mention, the process of generating a new block is extremely difficult and expensive. Consequently, Bitcoin miners in recent years have utilized increasingly sophisticated methods for mining Bitcoins as efficiently as possible. You have entered an incorrect email address! The Bitcoin Core development team and the rest of the Bitcoin community are vocal about both problems and pros of the network. First, it was Coke vs Pepsi, then it was Batman vs Superman, and now the main event! In theory this sounds like a significant advantage in favor of Litecoin, but its real-world effects may be negligible. NOV 28, by Jingnan Huo. In NovemberIBM executive Richard Brown raised the prospect that some users may prefer transacting in whole units rather than in fractions of a zap wallet litecoin paypal bitcoins exchange, a potential advantage for Litecoin.
Proof-of-authority Proof-of-space Proof-of-stake Proof-of-work. The amount of computing power and energy it would take to undo confirmed transactions makes it practically and economically difficult to defraud a blockchain that is maintained by proof-of-work. Today, money is created and managed by individual countries e. The equivalent figure for Litecoin is roughly 2. This number will half to The course covers blockchain and the top 5 most popular cryptocurrencies. NOV 23, by William Suberg. This means that transactions can be verified more quickly, allowing users to make payments without worrying about slow bitconnect to sale bitcoin paper storage on how much should i put in my wallet for bitcoin what exchanges bitcoin gold Bitcoin network. By using Investopedia, you accept. Get the app for free.
This has led many commentators to view Scrypt-based cryptocurrencies such as Litecoin as being more accessible for users who also wish to participate in the network as miners. The new halving will be reached in These are tough questions to answer. Official Litecoin logo. By using this site, you agree to the Terms of Use and Privacy Policy. They believe that Scrypt rushes the transactions, which could cause a huge security loophole. Litecoin, however, has positioned itself as a more merchant-friendly blockchain payments solution, owing to its shorter transaction confirmation times. These hash functions can be tuned to require rapid access a very large memory space, making them particularly hard to optimize to specialized massively parallel hardware. Some Bitcoin enthusiasts suggest that SHA is more secure as compared to Scrypt since it takes its time to process transactions. For more info on how we might use your data, see our privacy notice and access policy and privacy website.
Once it became more widely accessible on popular crypto exchanges, litecoin experienced a meteoric rise and wound up increasing in price by 6, percent in alone. With much faster transaction speeds, Litecoin has become a staple of day traders and other folks who need to convert between cryptocurrencies quickly to take advantage of sudden buying opportunities. A blockchain is a huge digital record of trades. Citing a conflict of interest in promoting Litecoin and LTC news, Lee argued that removing himself from a monetary relationship with the coin was in the best interest for its future. One of the main differences between Bitcoin and Litecoin concerns the total number of coins that each cryptocurrency can produce. Leave a Reply Cancel reply Your email address will not be published. This means they could both become good stores of value. Another key distinction between litecoin and bitcoin is the size of the market. Businesses and customers might like this idea and start using Litecoin instead of Bitcoin. Bitcoin makes use of the longstanding SHA algorithm, whereas Litecoin makes use of a comparatively new algorithm known as Scrypt. But don't just read our analysis - put it to the rest. Not only does it currently have value as a payment system, but also as an asset class a store of wealth. This is because both Bitcoin and Litecoin are divisible into nearly infinitesimal amounts.
I think that Bitcoin will become a long-term store of value before Litecoin. DEC 18, by Rakesh Upadhyay. The new halving will be reached in Bitcoin and Litecoin allow you and me to exchange money without using a bank, and without relying on a company. LTC is currently the eighth largest digital asset in the world. Why the crypto market is so volatile right now and what to do about it. In exchange for doing so, these miners are rewarded by earning units of the currency which they have mined. Although technically transactions occur instantaneously on both the Bitcoin and Poloniex needs my ssn how to save my bitcoins offline networks, time is required for those transactions to be confirmed by other network participants. Furthermore, the groundbreaking partnerships that are being formed by the Litecoin Foundation position this crypto for long-term success. The Bitcoin algorithm demands a lot of power and is significantly slower. AUG 17, by Helen Partz. Litecoin, however, has positioned itself as a more merchant-friendly blockchain payments solution, owing to its shorter transaction confirmation times. Please enter your name. Consequently, Bitcoin miners in recent years have utilized increasingly sophisticated methods for mining Bitcoins as efficiently as possible. However, this also reveals why ethereum miner addresses qt bitcoin trader of the industry of crypto has found Charlie to be such an endearing figure: Bitcoin BTC.
Ethereum Ethereum Classic. What is it? Bitcoin is trending towards a replacement of gold as a store of value. He said that the Bitcoin road is full of cars, moving slowly. The largest cryptocurrency in the Your email address will not be published. Learn how your comment data is processed. Given its long-running history as one of the first altcoins, many people still look for ways to buy litecoin. Altcoin Litecoin LTC vs. The other two large mining pools are LTC. In fact, the minimum quantity of transferable Bitcoin is one hundred millionth of a Bitcoin 0.
Though Litecoin is also divisible, the larger number of coins could provide a psychological advantage to the users who may feel more comfortable sending whole coins instead of a small fraction of a Bitcoin. The new halving will be reached in Category Commons List. As I said earlier, mining Bitcoin is more difficult and more expensive than mining Litecoin. With much faster transaction speeds, Litecoin has become a staple of day traders and other folks who need to convert between cryptocurrencies quickly to take advantage of sudden buying opportunities. How does litecoin work? Users can send each other money all over the world. Save my name, email, and website in this browser for the next bitcoin hacked gmail accounts dogecoin rate I comment. Bitcoin network currently offers a block reward of In theory this sounds like a significant advantage in favor of Litecoin, begin mining bitcoin parts recommended for bitcoin mining its real-world effects may be negligible. Retrieved NOV 23, by William Suberg. Popular Courses. Litecoin is also mined much faster than bitcoin, which means that the price of Litecoin should eventually rise faster than the price of bitcoin, according to the report. Learn how your antminer d3 ebay pivx passphrase lost data is processed. Investopedia uses cookies to provide you with a great user experience.
Altcoin Litecoin LTC vs. Another key distinction between litecoin and bitcoin is the size of the market. Our last price analysis this year. JAN 02, by Rakesh Upadhyay. One of the main reasons that people buy litecoin is that transactions take significantly less time to transfer than bitcoin, with a fraction of the transaction fees. As of mid, bitcoin had 17, BTC in circulation. The other two large mining radeon r9 fury ethereum hashrate bitcoin hardware wallet 2019 are LTC. This could also be true in the case of Bitcoin and Litecoin. The speed of the algorithm was one of the major reasons why Charlie Lee moved away from Bitcoin. What is it? LTC is currently the eighth largest digital asset in the world. Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. By using Investopedia, you accept. This is where Litecoin distinguishes. Litecoin is no different. Dash Petro.
As I said earlier, mining Bitcoin is more difficult and more expensive than mining Litecoin. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Today, Bitcoin is often regarded as a store of value similar to how the gold is valued as a global store of value , and for sending higher amounts of money think: So, to make money mining Bitcoin, you need a very powerful computer. The main advantage, and the main reasons many people buy litecoin, is that it makes day-to-day purchases possible with cryptocurrencies. This is where Charlie Lee and Litecoin come in. Whereas state currencies such as the U. Why the crypto market is so volatile right now and what to do about it. For example, a merchant selling a product in exchange for Bitcoin would need to wait nearly four times as long to confirm payment as if that same product were sold in exchange for Litecoin. Cryptocurrencies are supposed to be different. Some of the earliest BTC coins were mined by its creator. AUG 17, by Helen Partz. Citing a conflict of interest in promoting Litecoin and LTC news, Lee argued that removing himself from a monetary relationship with the coin was in the best interest for its future. Litecoin can produce a greater number of coins than Bitcoin and its transaction speed is faster, but these factors are largely psychological boons for the investor and don't impact the value or usability of the currency.
Utility Bitcoin has been trending towards becoming a store of value like code. By far the most fundamental technical difference between Bitcoin and Litecoin are the different cryptographic algorithms which they employ. By using this site, you agree to the Terms of Use and Privacy Policy. Dash is in the treadline, Bitcoin Cash is losing it. AUG 08, by William Suberg. We'll assume you're ok with this, but you can opt-out if you wish. Carrier charges may apply. In both Bitcoin and Litecoin, the process of confirming transactions requires substantial computing power. Litecoin aims to make the block time go down to 2. In fact, the minimum quantity of transferable Bitcoin is one hundred millionth of a Bitcoin 0. In other words, if it works on the dark web for buying sundry illegal or unethical materials, it should work just fine in legitimate marketplaces. On top of that, the transaction would take at least an hour to process, maybe longer — not exactly ideal for everyday purchases. Litecoin and Bitcoin are both one of the largest cryptocurrencies in the world.
Furthermore, the groundbreaking partnerships that are being formed by the Litecoin Foundation position this crypto for long-term success. How does litecoin work? By using Investopedia, you accept. The problem with this current system is that banks take fees to manage our money, and banks are network confirmations coinbase understanding bitcoin pdf attacked by hackers daily. Some of the earliest BTC coins were mined by its creator. Litecoin is often regarded as a currency for day-to-day transactions. Bitcoin and Litecoin use fundamentally different cryptographic algorithms: Category Commons List. Cryptocurrencies are still new. Virtual Currency Bitcoin Vs. A guide to some other cryptocurrencies". Compare Popular Online Brokers.
Litecoin, on the other hand, had 56,, LTC available. Miners are rewarded for their work, or for dedicating computing power to the network, by receiving newly issued units of the cryptocurrency. And remember that the value of Bitcoin and the price of Bitcoin are not coinbase customer reviews bitfinex in america. Latest price review and trading suggestions. It also makes Litecoin a very attractive option for merchants who could get confirmed transactions faster. As I said earlier, mining Bitcoin is more difficult and more expensive than mining Litecoin. Compare Popular Online Brokers. Technically, Bitcoin and Litecoin are the same as they originate from the same source code, but Litecoin comes with a few modifications. New highs for Ethereum, Dash, Bitcoin Cash! Though both coins are inherently similar and have similar objectives, there are few differences between the two. On the surface, Bitcoin and Litecoin have a lot in common. This means they could both become good stores of value.
About These hash functions can be tuned to require rapid access a very large memory space, making them particularly hard to optimize to specialized massively parallel hardware. Please enter your comment! The amount of computing power and energy it would take to undo confirmed transactions makes it practically and why are bitcoins valuable right now easiest way to purchase bitcoin online difficult to defraud a blockchain that is maintained by proof-of-work. As of Novemberlitecoin ranks number seventh in terms of total market capitalization. The main focus of this interest has been Bitcoin ripple xrp and visa bitcoin chinese enter, which, following the release of its first public client inhas become the dominant name in cryptocurrency. Whether Bitcoin's market cap strikes you as either high or low depends largely on historical perspective. The practical consequence of this has been that Bitcoin mining has become increasingly out-of-reach for the everyday user. Official Litecoin logo.
Cryptocurrency prices are constantly fluctuating given the supply and demand. Virtual Currency. However, when it comes to mining, both Bitcoin and Litecoin have significant degrees of centralization. This makes Bitcoin about 19x more valuable than Litecoin in the current market conditions. Bitcoin has been the dominant name in cryptocurrencies sincebut Litecoin and others have joined the fray. As the market seems to be recovering, see what orders might be a good idea best bitcoin cloud mining website bitcoin but in assembly code not. Understanding the Different Types of Cryptocurrency. Transaction Speeds Bitcoin generates a new block every 10 minutes which means that transactions can only be verified after 10 minutes of completion. First, it was Coke vs Pepsi, then it was Batman vs Superman, and now the main event! Retrieved 24 April An Overview Over the past several years, best bitcoin to paypal bitcoin mining on a gtx titan x interest in cryptocurrencies has increased dramatically. How does litecoin work?
Verge Vertcoin. Charlie Lee. Digital Literacy bitcoin BTC charlie lee coinmarketcap crypto cryptocurrencies cryptocurrency difference between bitcoin and litecoin HODL Litecoin litecoin vs bitcoin reddit market cap market capitalization Remove term: It can be divided up to eight decimal points, and the smallest unit in the BTC network is called Satoshi. Consequently, Bitcoin miners in recent years have utilized increasingly sophisticated methods for mining Bitcoins as efficiently as possible. But don't just read our analysis - put it to the rest. In May , Abra announced native functionality for litecoin , meaning Abra users can now buy litecoin, or directly deposit litecoin into the Abra app for another crypto wallet, make trades for other altcoins, and then make withdrawals again in litecoin. All content on Blockonomi. Leave a Reply Cancel reply Your email address will not be published. Many people find it difficult to grasp how something which only exists digitally can have any value at all. These hash functions can be tuned to require rapid access a very large memory space, making them particularly hard to optimize to specialized massively parallel hardware. Get the app for free. Understanding the Different Types of Cryptocurrency. Zcash Zcoin. Litecoin can produce a greater number of coins than Bitcoin and its transaction speed is faster, but these factors are largely psychological boons for the investor and don't impact the value or usability of the currency.
Bitcoin will cut this value by half in Although it is also used for purchasing goods and services Used for purchasing goods and services, as well as storing value much like how we currently use a checking account. Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. Proof-of-authority Proof-of-space Proof-of-stake Proof-of-work. Some of the earliest BTC coins were mined by its creator. In NovemberIBM executive Richard Brown raised the prospect that some users may prefer transacting in whole units rather than in fractions of a unit, a potential advantage for Litecoin. The Chinese and Korean governments have both loosened bitcoin current statistics what can you buy with bitcoins in the uk stance toward cryptocurrencies in general, opening the door to potentially billions of new investors. Your Money. These are tough questions to answer. Why the crypto market is so volatile right now and what to do about it. Store of Value 5 Litecoin vs Bitcoin: Reply 0. In ustd altcoin ledger wallet coinbase billing Bitcoin and Litecoin, the process of confirming transactions requires substantial computing power. By using this site, you agree to the Terms of Use and Privacy Policy. After a short-lived recovery attempt yesterday, the crypto markets chess cryptocurrency blockchain crypto coins to purchase seen another slump today, with Bitcoin being a notable exception. Over the past several years, public interest in cryptocurrencies has increased dramatically. These hardware devices were designed specifically for helping mine Bitcoins more efficiently than their predecessors.
The equivalent figure for Litecoin is roughly 2. Once it became more widely accessible on popular crypto exchanges, litecoin experienced a meteoric rise and wound up increasing in price by 6, percent in alone. Many cryptocurrencies are created through a process called mining, which means that computers on the network are competing to solve computationally difficult puzzles, which serves the function of validating transactions. An Overview Over the past several years, public interest in cryptocurrencies has increased dramatically. The amount of Litecoin meandering through the cryptocurrency arena is about 3. The Communities The Bitcoin Core development team and the rest of the Bitcoin community are vocal about both problems and pros of the network. By using Investopedia, you accept our. JAN 08, by Darryn Pollock. A guide to some other cryptocurrencies". Latest price review and trading suggestions. The transactions transferring funds from coinbase to gdax bitfinex drawing toolbar gone happen in these networks will be guided by rules called smart contracts. Two years later in Litecoin was forked aka. The amount of computing power and energy it would take to undo confirmed transactions makes it practically and economically difficult to defraud a blockchain that is maintained by proof-of-work. Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. I think that Bitcoin will become a long-term store of value before Litecoin. Given its long-running history as one of the first altcoins, many people still look for ways to buy litecoin. Miners are rewarded for their work, or for dedicating computing power to the network, by receiving newly issued units of the cryptocurrency.
Although technically transactions occur instantaneously on both the Bitcoin and Litecoin networks, time is required for those transactions to be confirmed by other network participants. Like gold, Bitcoin is perfectly fungible one Bitcoin is similar to anotherit is divisible you can pay someone a small fraction of Bitcoin, should you want to and easily verifiable via the Blockchain. Cryptography portal Economics portal Free and open-source software portal Internet portal Numismatics portal. Litecoin, on the other hand, had 56,, LTC available. Not only does it currently have value as a payment system, but also as an asset class a store of wealth. Litecoin aims to make the block time go down to 2. Litecoin was designed in to enable faster and cheaper blockchain-based transactions by Charlie Lee, a former employee at Google. In May , Abra announced native functionality for litecoin , meaning Abra users can now buy litecoin, or directly deposit litecoin into the Abra app for another crypto wallet, make trades for other altcoins, and then make withdrawals again in litecoin. And remember that the value of Bitcoin and the price of Bitcoin are not coinbase customer reviews bitfinex in america. Retrieved 24 April Cryptocurrencies are still new. Virtual Currency.
Is Litecoin Better Than Bitcoin? At first, a whitepaper authored by Nakamoto surfaced, and soon after, the Bitcoin blockchain came into being. Understanding the Different Types of Cryptocurrency. Litecoin has been tipped to become the third biggest cryptocurrency behind Bitcoin and Ethereum Image: Category Commons List. Another key distinction between litecoin and bitcoin is the size of the market. Our last price analysis this year. Hidden categories: