Litecoin vs Vertcoin: Which Crypto Has More Increased Mining Centralization?
There are several ways to enter the cryptocurrency market, and without a doubt, you will need to invest some quality time to get better results from your hard-earned money investment. The Litecoin (LTC) crypto is one of the best altcoins available out there that you can invest with. Vertcoin (VTC) crypto, on the other hand, can also be an excellent option to start; the only caveat is you need to be aware of the extreme volatility cycle that this coin has experienced.
Litecoin has long been considered as the silver of Bitcoin’s gold standard. It has some features that you will like, for example, the speedy transactions that are four times faster than Bitcoin. LTC also holds a decentralized peer-to-peer transaction which means no person controls the overall process except for its blockchain system that supports all transactions.
SegWit Protocol Integration
Aside from that, almost every year, there’s an update for its security algorithm to prevent possible hacking intervention, making it more reliable and worry-free for the users. Furthermore, it is one of the first five cryptocurrencies to implement the SegWit protocol to adapt to the ever-growing security concerns we face nowadays.
Lightning Network Integration
The LTC blockchain also includes Lightning Network, another specialized payment channel integrated to make the currency more usable. This integration further boosts the blockchain’s capability to transfer crypto to another faster and cheaper. So good that they tested a 0.00000001 LTC transfer from Zurich to San Francisco, the transaction was completed within just a second.
Proof-of-Work Mining Reward Model
There’s also a reward consensus algorithm for LTC miners called Proof-of-Work (PoW). It provides LTC tokens to miners which help to power and secure the blockchain network. The reward model can decrease after four years due to its pre-programmed halving model, around 840,000 blocks. However, don’t be discouraged; it is far greater than Bitcoin’s 210,000 block model, which is also pre-programmed to decrease every four years.
MimbleWimble Anonymous Transaction
Another factor in boosting LTC’s security algorithm aside from having Scrypt and SegWit is the integration of MimbleWimble. The additional system integration was done for good reasons, mainly for scalability, fungibility, and privacy. Since MimbleWimble is based on the UTXO model, it leaves no addresses, including additional encryption with the private keys, which are known only by the account holder. In summary, you can achieve an anonymous, confidential and safe transaction process.
Just like Litecoin’s features, there are many similarities which they share for good reasons, one of them is the Proof-of-Work (PoW) which is mentioned earlier on Litecoin’s features. Besides, it also possesses an easy-to-access mining capability using Verthash; a mining algorithm used similarly with Etherium’s Ethash. This additional feature is considered ASIC resistant, which has a one-click mining software, and for that reason, many users find it easier to mine using lower-end hardware.
There are only a few differences to mention with Litecoin (LTC) vs. Vertcoin. Although Vertcoin is similar to Litecoin in that it models the code from Bitcoin’s algorithm structure, variations such as mining and transaction capability emerged. Vertcoin was founded in 2014, while Litecoin was founded in 2011, so they have a two-year gap which makes Litecoin far ahead in terms of market experience.
There are some disadvantages of Litecoin, which have been compensated by Vertcoin’s algorithm. One of them is the strong barrier of entry for mining coins with Litecoin blockchain due to its update to support expensive ASIC miner hardware to compete with Bitcoin. Vertcoin made a more straightforward solution to this type of barrier of entry, giving home-based users a chance to participate in crypto mining activity using Vertcoin’s Verthash with an option to mine using one-click software availability.
Moreover, Vertcoin is more decentralized compared to Litecoin when it comes to mining methodology. Litecoin miners have embraced a Bitcoin-like mining process using hardware that is not easily available for everyone. In contrast with Vertcoin, as it can be mined using home-based computers, which is easier to acquire, making Vertcoin a people’s coin since more people can participate in the mining process than a warehouse mining model popular with it BTC and LTC mining.
Litecoin vs Vertcoin: Which is a better investment?
If we compare the two cryptocurrencies, they have a closer similarity in their algorithm as they are mostly copied from the top cryptocurrencies, like Bitcoin’s Core algorithm modeled on Litecoin and Ethash’s mining algorithm on Vertcoin’s Verthash. However, when it comes to circulation popularity and coin value, you’ll see a far greater gap between the two cryptocurrencies.
Litecoin is far ahead when it comes to coin value, and it’s already on the top, contending with other giants in the crypto market. Litecoin has also been into many known business partners that are ready to accept transactions where Litecoins users can access various goods and services. Unlike Vertcoin, which is used mainly on virtual crypto transactions due to its high volatility risk and low popularity.
Therefore, it is safer to invest your money on Litecoin than Vertcoin as they are lightyears away from their value and usability. Investing in cryptocurrency requires diligent research, so it can be possible to predict the future of cryptocurrency. For a closer look at LTC, here’s the Litecoin price prediction available for you to study.
Future Roadmap Updates
Litecoin’s future roadmap is evident compared to Vertcoin’s market status; as of this moment, LTC is already known and competing with the top 10 cryptocurrencies. This is so different compared with VTC that has been affected by the crypto market’s high volatility swing. It is currently outranked and staying on the 400th row of the crypto competition.
The lack of future updates and development of VTC can hamper its growth, affecting the trust and confidence of crypto investors. The crypto market is already a risky environment for investors due to its high volatility, so it is vital to find a more solid blockchain option. Litecoin’s future roadmap updates are getting better due to its solid business partnerships together with the Litecoin Foundation.
With regards to increased mining centralization, Litecoin emerged as the top contender compared to Vertcoin’s people’s coin status. The more crypto mining capability is given to people, the more we can say that it is more decentralized like Vertcoin. Mining centralization is prevalent these days with Litecoin’s top crypto contenders like Bitcoin (BTC) and Ethereum (ETH). These crypto giants are commonly mined using specialized hardware and software within a warehouse full of crypto mining machines, sponsored mainly by wealthy investors
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