Bitcoin Cash and Litecoin are two of the most popular cryptocurrencies in the world. Both coins have experienced significant growth since their inception, but which one is better?
Bitcoin Cash and Litecoin are two of the most popular cryptocurrencies. In 2021, which cryptocurrency is better? Read more in detail here: bitcoin cash vs litecoin 2021.
In this Bitcoin Cash vs. Litecoin comparison, we’ll look at all of the factors that go into making a crypto project a good investment. We’ll look at things like technology, teamwork, utility, traction, and dangers.
So, without further ado, let’s get started…
Satoshi Nakamoto envisioned a new kind of digital asset that would revolutionize the exchange of value more than a decade ago. He dubbed it Bitcoin, a decentralized digital money that is neither influenced or controlled by any single organization. Satoshi’s ideas become a reality thanks to blockchain technology. The bitcoin network was driven by a decentralized, secure, and transparent network of trust. Scalability, on the other hand, became a significant issue when the network expanded rapidly.
Finding a scaling solution in a decentralized system is a difficult task. The Blockchain Trilemma, as it is currently known, is a problem for decentralization, security, and scalability. It’s the challenge of coming up with a good solution for one of these characteristics without impacting the other. Even more difficult is reaching agreement on a single solution to the issue.
Some members of the Bitcoin community were foresighted enough to act early on. Alternative cryptocurrencies, often known as Altcoins, have resulted as a result of this. Litecoin was developed in 2011 by Charlie Lee, a Google and Coinbase computer scientist. An altcoin based on the bitcoin code with a few tweaks. With these improvements, it was able to achieve lower transaction fees and quicker transaction times while maintaining the same degree of security as bitcoin.
In 2017, a controversial hard split produced Bitcoin Cash, six years later (BCH). It was the consequence of a debate among the bitcoin community over how to solve Bitcoin’s scalability problems. Because the split’s proponents were unable to obtain majority approval from the community, the fork was renamed Bitcoin cash. Bitcoin Cash is essentially Bitcoin with larger block sizes and other protocol enhancements. It can now achieve greater transaction bandwidth and reduced transaction costs as a result of these improvements.
Which is better: Bitcoin Cash or Litecoin?
To gain widespread acceptance of cryptocurrencies, cryptocurrency developers must be able to connect the usefulness of their digital currencies to everyday activities. This is what Bitcoin (BTC) is attempting to do, allowing users to utilize cryptocurrency in the same manner they do cash. The success of Bitcoin, on the other hand, has proven to be its Achilles heel, since its network is unable to deal with its increased use. The BTC bull run in late 2017 and early 2018 is a clear illustration of this vulnerability. Due to increasing network load, the time it takes to process transactions and transaction fees have skyrocketed, leaving many Bitcoin users unhappy.
At the same time, this was a watershed moment for alternative currencies that outperform Bitcoin in terms of scalability. The necessity to find an alternative to BTC grew as these network congestions became more common. Bitcoin Cash and Litecoin have emerged as leading crypto electronic cash alternatives. Let’s take a closer look at these BTC alternatives and see which one is the best option.
To decide which project is a superior alternative to Bitcoin in the dispute between Bitcoin Cash and Litecoin, we will examine the many features of each project. Its personnel, technology and upgrades, telemetry and usefulness, traction and strategies, and threats and triggers, to name a few. Following each of these comparisons, a decision will be made as to which one will win the segment. After that, we’ll add up the results of each part and see which of the two is really better.
We think that the success of any project is largely determined by the people who work on it. As a result, we always begin our evaluation of blockchain initiatives by looking at the staff. We’ll compare the individuals behind each initiative, as well as the primary organization that supports them, in this part. We’ll also look to see whether they have a well-thought-out strategy for achieving their objectives.
Bitcoin Cash’s Team (BCH)
First, let’s take a look at the Bitcoin Cash team. The current Bitcoin Cash (BCH) is Bitcoin Cash ABC (BCH ABC), which is a fork of the original Bitcoin Cash (BCH). The separation, we think, was beneficial to the BCH community. It gave the company a chance to separate itself from Craig Wright, who rose to prominence after claiming to be Satoshi Nakamoto without evidence. The update also allowed BCH to handle non-cash transactions like smart contracts and oracle prediction services.
We think the BCH team’s developing potential has not been harmed as a result of the separation. In reality, this provided BCH with a whole new set of opportunities. Having Roger Ver and Jihan Wu on board virtually assures further success. The majority of BCH’s developers and contributions originated from the Bitcoin community. This should serve as a strong indication of the BCH team’s ability to deliver. Looking at BCH’s road map, it’s obvious that they have a well-defined strategy for carrying it out.
Litecoin’s Team (LTC)
The Litecoin Team, on the other hand, has a lot less controversy on their side. It has never had to cope with a controversial fork in its eight years of existence. It also didn’t experience any intra-community strife. This prompted us to think that the Litecoin Team is a tight-knit group of people. Furthermore, we’ve seen that most Litecoin development efforts follow Charlie Lee’s lead. This is in addition to the fact that Litecoin seems to serve as a test chain for future Bitcoin implementations. It earned this reputation as a result of its rapid adoption of Bitcoin-related technology.
We were unable to locate a clear and well-defined plan for Litecoin. The closest equivalent is a blog article by Andrew Yang, which was published on the Litecoin Foundation’s website last year. There are four things to look forward to in 2019 for Litecoin, according to the report. This was followed by a tweetstorm from Charlie Lee, who detailed the present work to improve Litecoin’s fungibility by adding the ability to conduct secret transactions.
Bitcoin Cash is the team’s winner.
We went with Bitcoin Cash since it seems to be the more active and robust of the two. Disagreements and dramas are signs of enthusiastic involvement. It also demonstrates the Team’s and community’s strong involvement. This isn’t to imply the Litecoin team isn’t dedicated and committed. We’re just stating that Bitcoin Cash outperforms them in terms of intensity.
Both teams are highly skilled experts with a track record of achievement. The popularity of Litecoin and the success of Bitcoin for Bitcoin Cash developers are obvious examples of this. They’re also supported by some of the most powerful figures in the bitcoin world. For Bitcoin Cash, Roger Ver, and Litecoin, Charlie Lee. Furthermore, they have the support of foundations that oversee the development of each project.
So, when it comes to the teams behind Bitcoin Cash vs. Litecoin, Bitcoin Cash wins this round.
II. Upgrades and technology
The technology of a project is the second most essential factor to consider. Both projects’ fundamental technology is extremely similar to Bitcoin’s (BTC). Their engineers, on the other hand, made modifications to the BTC source to make it more scalable and useful. After all, Bitcoin’s incapacity to grow is the reason for the existence and significance of these two BTC alternatives.
Bitcoin Cash is a kind of cryptocurrency.
Bitcoin Cash (BCH) is based on the same technology as Bitcoin. In fact, some in the crypto community think it is a superior form of BTC than Satoshi Nakamoto envisioned. Bitcoin Cash chose to raise the maximum block size to 8 megabytes, which was subsequently increased to 32 megabytes. It’s 32 times bigger than Bitcoin’s and Litecoin’s 1 MB blocks. Bitcoin developers, on the other hand, have chosen to embrace SegWit2x as a scalability solution and seem to be betting on 2nd layer scaling alternatives like the Lightning Network.
As a consequence, Bitcoin Cash can process more transactions in the same amount of time as Bitcoin. BCH should be able to perform 32x more transactions if all transaction parameters are the same. BCH users don’t have to pay as much to get their transactions verified since there is a smaller pool of outstanding transactions. Apart from that, since its latest fork, BCH will be able to perform smart contracts and oracle services.
Technology for Litecoin Cash
Because it has the same codebase as Bitcoin (BTC), one might argue that Litecoin (LTC) is likewise a fork of Bitcoin (BTC). This cryptocurrency, on the other hand, was not the product of a developer feud. Litecoin is a cryptocurrency that aims to be a lighter and quicker counterpart of Bitcoin. Between BTC and LTC, there are three key distinctions. To begin with, LTC has a maximum supply of 84 million units against 21 million for BTC. Second, LTC employs the Scrypt hashing method, while BTC employs SHA-256. Finally, LTC has a 2.5-minute block time, while BTC has a 10-minute block period. Except than Block Size, BTC and BCH have identical specifications.
Litecoin has always served as a beta chain for Bitcoin. In reality, LTC turned on segwit before BTC. It also employs the Lightning Network (LN) as a scalability solution at the second layer. Furthermore, recent LN developments enable atomic exchanges across the BTC and LTC networks. By integrating Confidential Transaction technology, LTC creators hoped to improve fungibility. Finally, Rootstock will add Litecoin compatibility to bring Ethereum-like smart contract capabilities to Litecoin, not to be outdone by Bitcoin Cash.
Tie for first place in technology.
Different scaling methods exist for Bitcoin Cash and Litecoin. Despite their differences, both have shown that they can scale greater than Bitcoin. The question of which is superior in terms of existing and projected technologies is still open. Each may match the other’s promise in terms of future advancements. Both projects’ scaling solutions, we think, are feasible.
Bitcoin Cash and Litecoin use similar technology to allow quicker transaction speeds at a fraction of the cost of Bitcoin. In contrast to Bitcoin, which is quickly becoming more of a store of value, this allows them to operate more like a currency. Both are better suited to day-to-day transactions, resulting in a tie.
III. Telemetry vs. Utility in Bitcoin Cash vs. Litecoin
The effectiveness of Bitcoin Cash and Litecoin as a means of exchange determines their value. Simply stated, they must be a reliable method of payment for everyday transactions. Their significance is based on Bitcoin’s inability to operate as such. This is due to transaction latency and cost exceeding the typical consumer’s tolerance level. Who wants to wait 10 minutes for a transaction to be completed? Isn’t it true that no one wants to pay a $3-10 USD transaction charge for a $1 USD transaction?
Telemetry & Utility for Bitcoin Cash
Bitcoin Cash (BCH) is a superior choice as a payment medium than Bitcoin (BTC). Transactions are handled much more quickly and with much less costs. As a consequence of being able to handle more data per block, this is the immediate effect. Furthermore, since it uses the same consensus process and hashing algorithm as BTC, BCH provides the same degree of security. They even have the same 600-second or 10-minute block duration. BCH may be compared to BTC’s identical twin with a minor difference in inclination.
Telemetry and Utility for Litecoin
If Bitcoin Cash is the identical twin of Bitcoin, Litecoin (LTC) may be considered their close relative. They all have the same DNA, although Litecoin isn’t as similar to Bitcoin as it is to Litecoin. To begin, it boosted its entire supply to relieve consumers of the strain of dealing with decimal figures. Second, it switched to Scrypt as its hashing method to make it less vulnerable to specialist mining equipment. This acts as a barrier to mining operations becoming centralized. Finally, compared to BCH and LTC, it has a quicker block time of 150 seconds or 2.5 minutes.
Bitcoin Cash is the telemetry and utility winner.
This round is won by Bitcoin Cash, which outperformed Litecoin as a digital currency. As seen in the table below, Bitcoin cash was able to handle considerably more transactions at a significantly reduced cost. Between August and October, Bitcoin cash processed 0.432 TPS on average, whereas LTC processed 0.204 TPS on average. Despite processing twice as many transactions as LTC, BCH’s average transaction cost over the same time period was approximately $0.0029 USD. LTC, on the other hand, was averaging $0.0237 USD, almost 8 times the price of BCH. Finally, the average value of BCH movements is higher than that of LTC, at $8,529 USD and $7,673 USD, respectively.
The sole disadvantage of BCH in this round is that its blockchain is considerably larger than LTC’s. This may be viewed as an increase in BCH’s computational burden. Despite this, mining difficulty for BCH is rising, while mining difficulty for LTC is decreasing. This indicates that BCH is attracting more miners than LTC. This leads us to the last reason we selected Bitcoin Cash: it is presently a more secure network. This time, we chose Bitcoin Cash since it was faster, cheaper, and more secure.
IV. Bitcoin Cash vs. Litecoin: Movement and Strategies
Cryptocurrency initiatives may have all the skill and technology in the world, but if no one utilizes them, it will all be for nothing. That’s why it’s crucial to keep an eye on Bitcoin Cash and Litecoin adoption. The most essential objective for every cryptocurrency project’s success is mass acceptance. The same may be said for Bitcoin Cash (BCH) and Litecoin (LTC). As a result, it is necessary to investigate the traction of these two initiatives. We also need to figure out what strategies they’re using to get more traction.
Traction & Strategies for Bitcoin Cash
Being BTC’s identical twin has some advantages. BCH is so close to Bitcoin that it might be considered a more scalable form of Bitcoin. Many crypto-related websites and services that accept BTC nearly usually accept BCH as well. Furthermore, customers will find it more attractive to use since it has considerably lower transaction costs and a quicker transaction time. The only significant impediment to BCH’s wider acceptance may be the reluctance of crypto community members to abandon the incumbent chain.
Traction & Tactics for Litecoin
Unlike BCH, Litecoin has usually been well-received by the larger bitcoin community. It has adopted a more pragmatic approach, serving as a backup or test chain for the bitcoin network. This aided in the development of a friendly coexistence atmosphere between BTC and LTC. However, LTC’s capacity to innovate and develop its own brand may have been harmed by its lack of competitive drive.
Bitcoin Cash is the winner in terms of traction and tactics.
This round is won by Bitcoin Cash for the following reasons. For starters, it is intimately linked to the Bitcoin brand. The name alone makes a big impact, since Bitcoin is the most well-known brand on the planet. This is true even outside of the cryptosphere. It has also been aggressively promoting itself as a better digital currency than the existing BTC. This is supported by real results. As a consequence, a growing number of individuals prefer BCH over BTC as a form of digital currency. It’s even more so than LTC.
We can observe that BCH is getting greater traction as compared to LTC. We can observe that BCH regularly executes more transactions than LTC, and that it does it more quickly and for less money. This is on top of the fact that BCH’s overall transaction count is growing quicker than LTC’s. This just indicates that BCH is being used by more individuals than LTC. We also noticed that since owning LTC rewards you with a block, less miners are eager to mine LTC. If the current pattern continues, LTC’s network security will be jeopardized. In contrast, the price of BCH has been gradually rising.
Threats and Triggers (V)
The dangers and triggers of these two crypto projects will be the final thing we look at. These are significant events, updates, and upgrades, commercial alliances, or changing regulatory environments that may have an impact on a project’s price movement or development. They may either act as a spark for a big bull run or a roadblock for the enterprise. Due to the volatile nature of crypto markets, where a single occurrence may alter the direction of crypto projects, threats and triggers are significant considerations.
Threats and Triggers for Bitcoin Cash
The preceding sections demonstrate that Bitcoin currency is seeing a lot of positive developments. When compared to LTC, BCH has fared better. Furthermore, the growing difficulty of mining BCH demonstrates miners’ continuing faith in the cryptocurrency. However, the increasing excitement around the BTC and BHC halving event next year may be a factor. BCH holders may see a “Binance effect” in the near term, since Binance Chain launched a BCH-pegged Binance coin to support it on its platform.
In other developments, Roger Ver has purchased O3, a Japanese company, which will create some intriguing dynamics in the creation of additional BCH-based applications via the Bitcoin.com website. Finally, we think that the BCH tokenization mechanism will be critical to the ecosystem’s development. The Simple Ledger Protocol (SLP), as well as the BCH protocol itself, will continue to develop, resulting in the production of increasingly valuable and useful BCH-based tokens.
Threats and Triggers for Litecoin
One of the most thrilling moments for LTC in recent memory occurred in the weeks building up to the LTC halving event. However, after the halving occurrence, crypto investors’ excitement for LTC seems to have waned. Miners’ interest in mining LTC has been dwindling for the last three months, as evidence. Furthermore, Litecoin prices have remained stable. As if that wasn’t terrible enough, the Litecoin Foundation has been having financial difficulties and has had to rely on Charlie Lee’s help to remain afloat.
The next Litecoin Summit may result in some exciting developments in the Litecoin world. This is a yearly gathering of industry executives, Litecoin developers, and fans to debate the future of the cryptocurrency. It may be just what the company needs to turn things around. Aside from that, it seems that the Litecoin Foundation’s strategy, which was announced late last year, is going ahead. With the Litecoin MimbleWimble Extension Block Proposal, Confidential Transactions are being incorporated into the Litecoin system.
Winner of Threats and Triggers: Bitcoin Cash
It was easy to observe that Bitcoin Cash has a lot more good aspects than Litecoin. The fact that our findings were confirmed by Bitcoin Cash’s quantifiable performance is the most significant factor. Particularly in light of its present development plan’s success. Right now, Bitcoin Cash is experiencing some really exciting moments. However, we cannot completely reject LTC. Several protocol enhancements are in the horizon. Only time will tell whether these efforts are fruitful; nevertheless, every crypto project may be turned around by a major event, development, or change.
The comparison of Bitcoin Cash vs Litecoin was intriguing, but it seems that Bitcoin Cash outperforms Litecoin in every area. You may be certain that we assessed them objectively. If it’s any consolation, we think the Litecoin community can improve and recover from its present downturn; in fact, they have big plans in the works. They are a tenacious people who have stood the test of time. After all, it is the world’s sixth-largest cryptocurrency by market capitalization.
Bitcoin Cash, on the other hand, is presently outperforming LTC in every way. Bitcoin Cash is presently gaining traction, and the market is responding positively. Additionally, favorable developments in terms of collaborations, company investments, and protocol improvements seem to indicate that this momentum will continue into next year, peaking around the Bitcoin and Bitcoin Cash halving event.
We hope you liked our Bitcoin Cash vs. Litecoin comparison and found it helpful!
Also see the Best Bitcoin Cash Wallet.
Bitcoin Cash is a cryptocurrency that was created in August 2017. It uses the same blockchain as Bitcoin but has increased block sizes to allow more transactions. Litecoin is another cryptocurrency that was released in 2011. Reference: is bitcoin cash a good investment.
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