Difference between revisions of "Bitcoin and Litecoin Comparison"
From Litecoin Wiki
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===Cons=== | ===Cons=== | ||
| − | * Attacks by | + | * Attacks by [http://en.wikipedia.org/wiki/Botnet botnets]. If the botnet operator runs an unmodified litecoind in order to earn coins then such a botnet only attacks the computers under its control, not Litecoin itself, as it would actually strengthen the Litecoin network. However, the objective of a crypto-currency is to improve the world rather than to improve itself. Botnets with a high enough proportion of the total hash power could try [https://en.bitcoin.it/wiki/How_bitcoin_works#Double_spending double-spending] attacks on the Litecoin network. |
==Faster transaction time== | ==Faster transaction time== | ||
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The purpose of Litecoin is to function as silver to Bitcoin's gold, in the sense of being a relatively less valuable coin that is easier to obtain and transact with. The properties that make Litecoin fit to accomplish this objective can be summarized as follows: | The purpose of Litecoin is to function as silver to Bitcoin's gold, in the sense of being a relatively less valuable coin that is easier to obtain and transact with. The properties that make Litecoin fit to accomplish this objective can be summarized as follows: | ||
| − | * Transactions are 4 times faster than with Bitcoin, in exchange for | + | * Transactions are 4 times faster than with Bitcoin, in exchange for possibly weaker security guarantees (depending on human behavior). |
| − | * CPU mining means that the barriers to entry into the Litecoin mining market are cheap relative to Bitcoin mining. | + | * CPU/GPU mining means that the barriers to entry into the Litecoin mining market are cheap relative to Bitcoin mining. |
* The total amount of litecoins is 4 times higher than the total amount of bitcoins. | * The total amount of litecoins is 4 times higher than the total amount of bitcoins. | ||
