There are some similarities between Bitcoin and Litecoin cryptocurrencies:
first of all, this is the fact that both coins do not have a control and regulation center, which means that both projects are completely decentralized;
all monetary transactions that are made on both platforms are anonymous;
all network transactions are irreversible;
the volume of emission of cryptocoins is known in advance and is limited in quantity;
mining of coins is based on the cyclical hashing mechanism.
Total number of coins
bitcoin - 21,000,000 BTC
litecoin - 84,000,000 LTC
Computation complexity recalculation
bitcoin - once every 10 minutes
litecoin - once every 3.5 days
-- Edited by eureka on Friday 22nd of January 2021 07:18:58 PM
The performance of the Litecoin system and its protection against double spending is ensured by the cyclic hashing method. This is the process of mathematical calculation of the desired numerical hash value, in which the condition of the problem will be considered fulfilled. When the correct parameter is found, the node sends the generated block to the rest of the network nodes, which also check the received solution for errors.
