Differences Between Litecoin and Ethereum: Which Is Better?

Ethereum (ETH) and Litecoin (LTC) are among the most popular cryptocurrencies in the world. If you’ve been paying attention to the industry, you probably know that there are many different tokens created for different uses, and these two coins are no exception.

In this article, you will learn the core differences between Ethereum and Litecoin, as well as how to make an LTC for ETH trade on Godex.

What Is Litecoin?

Litecoin is an open-source, peer-to-peer cryptocurrency based on decentralized ledger technology.

Litecoin Pros

• Low cost of transactions compared to its big brother, Bitcoin, and Ethereum.
• Litecoin anonymity makes it a good privacy-centric coin.
• Litecoin is more scalable than Bitcoin and Ethereum, so transactions are processed faster.
• Blocks are generated four times faster on Litecoin than Bitcoin, 2.5 minutes per block compared to ten minutes per block.

Litecoin Cons

• Litecoin is simply a digital currency, so there are limited use cases outside the payment services sector.
• Litecoin is 100% anonymous, so it has gained a reputation on the dark web with over 30% of illicit transactions being paid for in Litecoin.
• Litecoin is losing credibility due to bad decisions made by its founder Charlie Lee and the poor price action over the years.

What Is Ethereum?

Ethereum is a decentralized, open-source platform used to launch decentralized applications, cryptocurrencies, and smart contracts.

Ethereum Pros

• Ethereum is more than a cryptocurrency. It’s an immense global network and the largest blockchain system with nearly limitless potential.
• The Ethereum Foundation never stops improving the network and has promised to achieve true scalability.
• Other cryptocurrencies and decentralized platforms can be hosted on the Ethereum blockchain.
• Smart contracts on Ethereum are immutable and tamperproof.

Ethereum Cons

• Transaction fees on the blockchain are on a steady rise.
• Ethereum developers have yet to solve the lack of scalability or reduce the 13.20-minute block time.
• Ethereum currently has an inflation rate of 3.77%. There is a strong risk of more inflation if the supply outweighs demand, and there is no supply cap.

So, Is Litecoin Better than Ethereum?

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How to Make an LTC to ETH Conversion on Godex

Now that you know the difference between Ethereum and Litecoin, it’s time to learn how to make an LTC to ETH conversion on Godex.

• Step One: Visit Godex.io and choose the cryptocurrency pair to start the LTC to ETH conversion.
• Step Two: After choosing the number of coins for the LTC to ETH conversion on Godex, enter your wallet address.
• Step Three: Deposit the LTC you wish to convert to ETH.
• Step Four: To complete the LTC to ETH conversion on Godex, click on the Exchange button. The LTC equivalent of ETH should reflect in your wallet almost instantly.

Postscript

Now you have a basic understanding of the differences between Ethereum and Litecoin. Both tokens have strengths and weaknesses. Be sure to take everything you’ve learned into consideration before you make an LTC for ETH exchange on Godex.

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