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 "The value of coins, such as litecoin and bitcoin, remains the same across all the exchanges that actively trade them" is FALSE.
Explanation:
Bitcoin vs Litecoin
- All Bitcoin and Litecoin were working on the algorithm for proof of work. The difference is that Bitcoin uses the algorithm of SHA256 while Litecoin uses a newer algorithm of Scrypt Hashing.
- The number of coins generated during cryptocurrency : one transaction added to the ledger in Bitcoin takes 10 minutes for Litecoin to confirm one transaction in 2.5 minutes, having the fastest speed.
- A maximum of 84 million Litecoins will be generated and 61 million Litecoin is currently being created in the algorithm of Litecoin and it has a max capacity of 4 times that of Bitcoin.
- The speed of Litecoin is faster than Bitcoin, thus produces maximum coins as compared to Bitcoin.
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