What Is The Difference Between Bitcoin And Litecoin?

Litecoin is based on the bitcoin core codebase. Yet, the developers of Litecoin have implemented some changes to its hashing algorithm to enhance Litecoin’s ability to handle higher transaction volume than Bitcoin. The total amount of Litecoins that will ever be produced is capped at 84 million coins, which are divided up into four decimals (28 million).

Contrary to previous belief regarding Bitcoins block size cap, which was predicted by Satoshi Nakamoto himself would never change, scaling issues with Bitcoin has now reached a point where they threaten its viability as real money. Proof-of-work is no longer good enough for online payments and microtransactions or backroom deals. Instead you are now forced by current protocol restrictions onto an archaic blockchain format that is slower and far too expensive per transaction.