A lot of people ask me what the difference is between bitcoin and litecoin. There is no difference in the two currencies, they are both digital currencies. The only difference is the way in which they were created. Bitcoin was created by an individual who called himself Satoshi Nakamoto. He published a white paper describing his ideas for a digital currency that was open source and could be mined. This means that anyone could create their own digital currency and have it mined on the internet. Litecoin was created by a company called Litecoin Foundation. They had to do a bit more work than Satoshi did when he created bitcoin. They had to write software that would create a new coin and distribute it to miners all over the world.
The reason I am writing this article is because I want to help people understand how these two currencies work. The first thing you need to know about them is that they are both mined. You can mine either one by using your computer to run the programs that create the coins. This is done by solving mathematical problems. When you solve the problem the computer creates a block of the currency. This block is then added to the list of blocks that are stored in the blockchain. Each block contains a reference to the previous block and a hash of the block itself. This hash is used as the checksum to make sure that the block hasn’t been tampered with. The first block of bitcoin was created in January 2009. Since then the number of bitcoins in circulation has grown from 50 million to more than 15 billion. The number of litecoins in circulation has grown from 3 million to over 100 million.
Another important thing to know about these currencies is that they are not controlled by any central bank or government. This means that you cannot control the supply of them. If the number of bitcoins or litecoins were to decrease there would be no way to get new ones. However, if the government decided to print more money there would be no way to prevent them from doing so. This makes them different from other forms of currency like the dollar.
There is another difference between bitcoin and litecoin that is important to understand. The way that they are created is different. When you mine bitcoin you use your computer to solve a set of mathematical problems. This process is known as mining. Litecoin was created using a different process. Instead of using a computer to solve a mathematical problem it was created using a special algorithm. This means that instead of being mined you must find a special block. The block is created using the algorithm and then distributed to everyone who wants to receive it.
When you start to learn about these currencies you will probably want to know why they are valuable. The answer to this question is easy. They are valuable because they are scarce. It is difficult to create a new coin. Therefore, the value of each coin increases as the supply decreases. The other reason that they are valuable is that they are anonymous. Unlike the dollar, the euro or the pound you can spend your coins without anyone knowing that you have done so. You can also transfer them from person to person without anyone knowing.