Difference Between Monero And Litecoin

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Difference Between Monero And Litecoin
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The emergence of Bitcoin and blockchain
technology has caused a major change in the
market of cryptocurrency. Bitcoin who has been
peoples favourite cryptocurrency now has a
face-off with alternate crypto coins. The buzz of
Bitcoin prompted people across the world to buy
cryptocurrency in India. These altcoins came into
being after the success of the latter coin.
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• Today, there are many altcoins in the market.
  Some of these coins are known to have been
  adapted from the structure of Bitcoin. But today,
  we wont be discussing any competition between
  the Bitcoin with altcoins.
• Today we are going to discuss the difference
  between Monero and Litecoin, two most promising
  altcoins after Ethereum.

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Difference Between Monero And Litecoin

• The first difference between the Monero and
  Litecoin is that Monero coin is based on the
  Cryptonote, which is a special algorithm made for
  transactions which are done privately.
• A user can expect complete privacy with its two
  different features. One is Ring Confidential
  Transaction and another one is Ring Signature.
  The level of privacy in Ring Confidential
  Transaction gets increased through transacting
  amounts via screening.

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• People are much familiar with Bitcoin and are
  inquisitive to find the easiest way to buy
  cryptocurrency. Even though Bitcoin has been a
  popular digital currency for trading, still, it
  faced technical errors regarding snail-like
  transaction activity and problems in storage.
• Litecoin, being a public coin made an entry as a
  promising substitute to Bitcoin. When being
  compared to the latter cryptocurrency, it showed
  remarkable results in comparison to speed which
  was slow in Bitcoin but was speedier in Litecoin.
  
• It performed better even in storage. Litecoin
  consists of a scrypt algorithm that makes this
  coin performing speedy transactions and
  generating multiple coins. So this displays the
  difference between Monero and Litecoin.

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• Other noting differences between Monero and
  Litecoin is the power. Where the power of
  Litecoin is approximately 400W, Monero supersedes
  it by having more power which is around 1000W.
• Not even in power, Monero excels in its mining
  price which is 2200 US Dollars, whereas, Litecoin
  has 1900 US Dollars.

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Conclusion It is not possible to escape
competition be it any field. Comparisons will
always be done between two worthy technologies.
You can expect this in the crypto world too.
Bitcoin who paved the way for altcoins after it
reached worldwide success has ongoing competition
with alternate coins. But it is not always
centralized between these coins. Competition can
also brew among the altcoins. Sources https//www
.cryptoknowmics.com/news/easiest-way-to-buy-crypto
currency
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