Oft-times known as a relative of Bitcoin, litecoin is a peer to peer based cryptocurrency in the online market. This internet currency has gained a widespread adoption from the time of its introduction i.e. 2011. Litecoin market is much different than other cryptocurrency over the internet in terms of speed, number of coins and market cap. Different from Bitcoin, Litecoin price has seen an explosive growth since its inception.
Over the years Litecoin market has precipitated a bump up in price and the Asian market have shown a major role in the investment for LTC, hoping it a power-pack sector. Litecoin is safely analyzed and kept secure by miners using hashing algorithms making it a memory-intensive algorithm. Litecoin mining uses secure cryptographic algorithms to solve complex mathematical blocks until the full data is verified.
Recent surveys and analysis has shown the presage of bitcoin market in 2018 as a risk or “Bitcoin crash”. Litecoin vs bitcoin mining could be one of the reasons where litecoin is more secured and easy to be followed. On one side Bitcoin depends on SHA-256 algorithm which is more complex and is a resource intensive method. On the other hand, Litecoin mining is an easier task by the miners which uses a different blockchain technique and is significantly simples than Bitcoin mining. It also costs low and uses hashing algorithm.