In 2009, Satoshi Nakamoto launched bitcoin as the world’s first cryptocurrency. The code is open source, which means it can be modified by anyone and freely used for other projects. Many cryptocurrencies have launched with modified versions of this code, with varying levels of success.

Litecoin Logo

Litecoin was announced in 2011 with the goal of being the ‘silver’ to bitcoin’s ‘gold’. At the time of writing, Litecoin  has the highest market cap of any mined cryptocurrency, after bitcoin.

Here’s our guide to show you the crucial difference between bitcoin and litecoin.

At-a-glance differences

bitcoin litecoin
Coin limit 21 Million 84 Million
Algorithm SHA-256 Scrypt
Mean block time 10 minutes 2.5 minutes
Difficulty retarget 2016 block 2016 blocks
Block reward details Halved every 210,000 blocks. Halved every 840,000 blocks
Initial reward 50 BTC 50 LTC
Current block reward 25 BTC 50 LTC
Block explorer blockchain.info block-explorer.com
Created by Satoshi Nakamoto Charles Lee
Creation date January 3rd, 2009 October 7th, 2011
Market cap $10,467,596,650.78 $540,274,528.26
 Bitcoin Statistics  Litecoin Statistics