The value of coins, such as litecoin and bitcoin, remains the same across all the exchanges that actively trade them.True or false
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The statement that the value of coins, like the litecoin and bitcoin, remains the same across all the exchanges that actively trade them is False.
- The exchange takes place on both systems immediately, it takes time for other system members to affirm these exchanges. The specific cryptographic methods used are the most basic technical comparison between Bitcoin and Litecoin.
- Litecoin can produce more coins than Bitcoin and its rate of payment is quicker, but these aspects are mostly psychological boons for the investor and do not impact the currency's value or usability.
- One of the major differences between Bitcoin and Litecoin is the total number of coins that can be generated by each cryptocurrency. That's where Litecoin stands out. The Bitcoin network can never touch 21 million coins, while Litecoin can hold up to 84 million coins
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‘The value of coins, such as ‘litecoin and bitcoin’, remains the same across all the exchanges that actively trade them’ is a FALSE statement.
Explanation:
- Bit coin has been found the dominant group in crypto currencies since the year 2009 than any other coins. Later, Litecoin joined the row.
- The market cap of Bit coin is almost over $67 billion. But the market cap of Litecoin is below $3 billion. Here the Litecoin generate higher number of coins than the Bit coin.
- Moreover, the transaction speed of Litecoin is faster than other currencies. Bit coin uses SHA-256 algorithm, whereas Litecoin uses new algorithm named as Scrypt.
Learn more about litecoin
Currencies other than bitcoin such as litecoin and dash are popularly known as
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Which among the following is the most flexible cryptocurrency?
Ripple
Bitcoin
Litecoin
Ether
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