Even though Bitcoin is the most prominent cryptocurrency in the market and media, several alternative possibilities exist for those who want to invest in cryptocurrencies, exploring crypto investment opportunities that go beyond the obvious choice.

On the market today, hundreds of distinct cryptocurrencies, or altcoins, offer unique features and advantages. Investors can explore crypto investment opportunities in Litecoin and Ethereum, two of the most popular cryptocurrencies, often ranked in the top five by market capitalisation.

What makes these coins so popular, and how do they differ?

While people often compare Litecoin and Ethereum, they differ greatly in terms of technology. Investors may choose one over the other for various reasons.

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Comparative and Disparate Aspects

Both cryptocurrencies may be acquired on most major exchanges, with rapid transaction times (faster than Bitcoin).

The two networks are open source and peer-to-peer, although Ethereum is considering switching to Proof of Stake mining.

There is a maximum of 84 billion LTC in circulation. The supply of Ethereum is not limited. Block incentives for validators are reduced to keep supply under control in Ethereum.

Both Litecoin and Ethereum charge transaction fees. Ethereum may be used to make contracts and transfer property, while Litecoin is mostly utilised as a medium of exchange.

Litecoin’s Most Important Features

Charlie Lee, a former Google employee, founded Litecoin (LTC) in 2011. It’s a branch of the Bitcoin blockchain; therefore, it has many characteristics of the original.

When a proof-of-work blockchain’s miners can’t agree on a new version, miners who didn’t agree to upgrade to the new version continue to mine the old blockchain, which is now a fork. Because not enough miners agreed to Charlie Lee’s proposed modification to the Bitcoin network, a new cryptocurrency known as Litecoin was created due to the split.

Lee created Litecoin to provide a quicker, fairer, and more affordable Bitcoin alternative. Litecoin’s transaction fees are lower than Bitcoin’s, although mining a block takes four times as long as with Litecoin. A Bitcoin block takes 10 minutes to mine, but a Litecoin block takes 2.5 minutes.

This implies that each transaction is finished in less time. Litecoin’s total supply is also substantially bigger than Bitcoin’s.

Ethereum’s most notable features

Bitcoin enthusiast and programmer Vitalik Buterin conceptualised Ethereum in 2013 and published a whitepaper explaining the technology’s applications. Other engineers who shared the vision built the Ethereum blockchain, which went live in 2015.

Ethereum primarily serves as a decentralised application platform, although it can also function as a means of exchange like other cryptocurrencies. The Ethereum currency (ETH) fuels the platform’s contracts and applications. Developers can build smart contracts on the Ethereum blockchain.

Contracts may include various information and transactions, including the transfer of property, establishing regulations, exchanging money, etc.

To a great extent, Ethereum was responsible for initiating coin offers (ICOs) in 2017, exploring crypto investment opportunities by allowing developers to create their bespoke token projects on the network and then sell those tokens to interested investors.

Ethereum’s blockchain is considerably quicker than Bitcoin’s or Litecoin’s. Mining takes place every ten to twenty seconds, depending on the computer’s power.

Bottomline

Litecoin and Ethereum, in contrast to many smaller cryptocurrencies, are expected to last for a long time. Investors were concerned because they didn’t want to risk putting their money into a currency that could disappear or shut down.

Each currency has a long history in the crypto world, a loyal fan base, and a team of developers who continually work to improve it. Both are also listed on almost every major exchange.

If SegWit is deployed on the Bitcoin blockchain in the future, it might impact Litecoin’s value. Litecoin would lose one of its current advantages over Bitcoin if this happens.

There are advantages and disadvantages to using either Bitcoin or Ethereum as a medium of exchange. As a result of quicker block generation times for Ethereum, transactions may theoretically be faster than those for Litecoin. In contrast to Litecoin, the Ethereum network has a far larger data storage capacity, which might impact transaction speeds. In other words, Ethereum is meant to be used for more than just transactions and information sharing.

It is also not uncommon for crypto investors to own a mix of ETH and LTC in their portfolios.