The vast majority of the population associates Blockchain with cryptocurrency Bitcoin; however, there are many other uses of blockchain; such as Litecoin, Ether, and other currencies. In this discussion, please describe at least two cryptocurrencies with applicable examples. Discuss some similarities and differences.
here are two cryptocurrencies with applicable examples and their similarities and differences:
Bitcoin: Bitcoin is the first and most well-known cryptocurrency. It was created in 2009 by an anonymous person or group of people under the pseudonym Satoshi Nakamoto. Bitcoin is based on a blockchain, which is a distributed ledger that records transactions. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is a decentralized currency, meaning that it is not subject to government or financial institution control.
Litecoin: Litecoin is a peer-to-peer cryptocurrency that was created in 2011 by Charlie Lee. Litecoin is based on the same code as Bitcoin, but it has a faster block generation rate and a different hashing algorithm. Litecoin is also more affordable than Bitcoin.
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