Litecoin is designed to be ‘silver to bitcoin’s gold’, according to its founder Charlie Lee. And just as the supply of silver outstrips the supply of gold, Litecoin’s maximum supply of 84 million coins is four times greater than bitcoin’s. There are also some fundamental technological differences between the two. Difference between Bitcoin and other cryptocurrencies: Fake or miracle chance? 9 hard facts What is the Difference? - virtual currency designed to same happens in the Difference Between Bitcoin and employ. Bitcoin makes use Bitcoin | Binance Academy numbers of transactions done work as a strategies of executing transactions, many different cryptocurrencies, such ' logos. Bitcoin is the digital currency that utilizes cryptocurrency and it is controlled by the decentralized authority which is not like the government-issued currencies whereas the Cryptocurrency refers to the technology that acts as a medium for facilitating the conduct of the different financial transactions which are safe and secure.
What is the difference between bitcoin and other cryptocurrenciesWhat Is The Difference Between Bitcoin and Other Cryptocurrencies? – Neglected Delinquent
Costs of transactions could be lowered only because there are no middle men involved. But in Bitcoin, the focus today is more on soundness and stability. As a result, privacy can also get compromised at times. Bitcoin is being viewed as digital gold and attempts are being made to make it a global and store of value.
So, the Bitcoin community has somewhat drifted from its crypto-anarchist roots. According to experts, the view that most Bitcoin people hold today is that they have not stopped being concerned about fungibility or privacy but they view it more as a new technology experiment that cannot fail or rather should never fail. This seems to have become the number one priority.
It might take months or weeks for the difficulty to get back on par. Transactions will be super slow, as there are few miners to solve the blocks. Something like SolidCoin fixes this problem, I really like the twice daily difficulty adjustments as it prepares the network for something Bitcoin might be prone for.
I was in the bitcoin community in It seems pretty secure and has a lot of people looking into it. I think one of the main growing pains of a crypto is that it has to run through the growing stages. With the many crashes and hacks that Bitcoin has gotten through, it seems it's here to stay. Sign up to join this community. The best answers are voted up and rise to the top.
What are the differences between Bitcoin and other crypto-currencies? Ask Question. Asked 9 years, 4 months ago. Active 3 years, 4 months ago. Viewed 8k times. Jez Jez 7 7 silver badges 15 15 bronze badges. Active Oldest Votes. I believe that Artem's answer is a better one. The concept of cryptocurrency existed before Bitcoin but the concept of the blockchain is new. The "Bitcoin clones" SolidCoin, IxCoin or whatever pretty much copied the Bitcoin concept with some very minor modifications.
It is more interesting to discuss how Bitcoin differs from the mostly theoretical cryptocurrencies that existed prior to Bitcoin. Right now, since Bitcoin-forked crypto-currencies seems to be gaining the upper hand, the practical interest in such currencies outweighs theoretical interest in pre-Bitcoin crypto-currencies.
Artem Kaznatcheev Artem Kaznatcheev 1, 1 1 gold badge 14 14 silver badges 23 23 bronze badges. Tom Williams Tom Williams 9 9 silver badges 12 12 bronze badges.
It fixes it, but it introduces problems of its own. For example, it makes it much easier for a miner to mine a long, but valid, block chain by forging timestamps and forcing as many maximum-sized difficulty drops as allowed. The link to solidcoin redirects to coinforce. Stephen Gornick Stephen Gornick Glorfindel 2 2 gold badges 7 7 silver badges 15 15 bronze badges. Lee Adams Lee Adams 1.