Bitcoin is the dominating token of the digital market and also the initial token introduced as the cryptocurrency. Seeing the immense popularity and demand of Bitcoin lots more altcoins came into the limelight like Ethereum, Ripple, Steller, etc but Litecoin and Bitcoin cash are the most popular ones. Indeed the main goal behind the development of Litecoin and Bitcoin Cash is to vanish the shortcomings of Bitcoin and be the world’s initial eminent peer to peer electronic cash system. If you have landed here to figure out which one is the best then let’s observe our guide Litecoin vs Bitcoin cash and decide yourself.
So let’s initiate our discussion Litecoin vs Bitcoin cash and find out the role of both tokens to improve the flaws of Bitcoin.
Litecoin vs bitcoin cash: Comparison
Role of Litecoin and Bitcoin cash to improve the imperfections of Bitcoin
The chief motive behind the development of Bitcoin was to become the world’s initial decentralized cash system. But due to the scalability and other hurdles, lots of issues occur like slower transactions and high volatility in price, etc.
To overcome these issues Litecoin and Bitcoin were developed. Their goal is to offer lower transaction fees, faster transaction time, and transaction on various networks.
With Litecoin transactions have become faster this network is efficient to process one block within every 150 seconds.
Bitcoins cash is developed to enhance block size like thus upgrading the rate on which transactions are executed. Bitcoin Cash has 8 MB block size that is able to accomplish 61 transactions every second. On the other hand, Bitcoin has 2 MB block size which can execute only 7 transactions per second.
How Bitcoin Cash and Litecoin work
To figure out how both networks work is a really vital point of our Litecoin vs Bitcoin cash guide. Both coins currently execute on Bitcoin proof of work concurrence.
But few things end up their similarities. For example, Litecoin is upgraded with its Segvit protocol, the procedure to increase the allocated space on the block by stripping all the transactions on the block of their signature data. Thus each block has the enhancement of 4X in the storing capability. That’s why Litecoin has grown its size from 1 MB to 4 MB. Whereas Bitcoin cash basically began its procedure on an 8 MB and it was enhanced by 32 MB.
All the two networks are showing improvements over Bitcoin but Bitcoin Cash has more uses and developer adoption when compared with Litecoin. More apps are developed on the BCH platform than Litecoin. Memo Cash, Centbee, and Blockpress, etc are developed with BCH. CoinText, and Lite.IM are introduced on Litecoin network.
Transaction speed and volume
The transaction speed of Litecoin project is faster than BCH. With Litecoin it consumes 150 seconds to process one block whereas Bitcoin Cash takes 600 seconds in the same process. That’s why last month Litecoin has processed almost $40 Billion in transactions and BCH has processed only $10 Billion.
But we can’t say BCH a bad network because it permits cheaper transaction fees of $0.0043 and on the other hand Litecoin offers $0.021.
I hope the above discussion is enough to elaborate on the difference between the two coins. Both have their own benefits and demerits. So the choice all depends on you.