“Litecoin vs Bitcoin: Why Litecoin is Winning with Faster and Cheaper Transactions”

But still, with a high level of demand for transfers, the network faces a shortage of space, since on average a little more than 4 thousand transactions are sent in the allotted 10 minutes.

In order to send a transaction in a timely manner during busy hours, users must offer increased fees to miners. The average size of commissions on May 08 exceeded $30, which was not ready not only for ordinary users, but also for such large participants as Binance.

Here, many remembered the second coin (by release date) after Bitcoin. was created in 2011 just to make fast and inexpensive transfers, its blocks are formed four times faster, and the speed reaches 56 transactions per second (versus 7 TPS for Bitcoin). Technically, they are very similar, for which Litecoin is often called the younger brother.

Due to the relatively high speed and lesser popularity, Litecoin did not experience the same problems from the introduction of ordinals (more in). Moreover, in May, the commission became cheaper than a cent.

As a result, the demand for transactions in Litecoin increased five times in May from an average of 100 thousand per day to 500 thousand per day, and the number of active addresses exceeded Bitcoin. At the same time, the commission remained at the minimum levels.

Since May 08, when Bitcoin faced a record load over the past year, Litecoin has been demonstrating confident growth against its progenitor.

For Litecoin users and investors, the good news does not end there. Altcoin will be the first of the largest networks to hold the next halving, which is expected in early August. Traditionally, pay cuts have been the catalyst for future growth.

StormGain Analytical Group