How secure is litecoin compared to other cryptocurrencies such as bitcoin ?
Litecoin is considered to be one of the most secure cryptocurrencies in the market.
It uses a proof-of-work consensus algorithm, which is similar to Bitcoin's, but with some key differences. Litecoin's algorithm is designed to be more resistant to ASIC mining, making it more decentralized than Bitcoin. In addition, Litecoin has implemented SegWit (Segregated Witness) and Lightning Network technology, which allows for faster and cheaper transactions than Bitcoin.
This makes it more attractive for everyday use and reduces the risk of double spending attacks. Finally, Litecoin also has a larger total supply than Bitcoin (84 million compared to 21 million), which makes it less vulnerable to manipulation by large holders of coins. This also helps keep the price stable over time.
Overall, Litecoin is considered to be one of the most secure cryptocurrencies in the market due to its strong consensus algorithm, implementation of SegWit and Lightning Network technology, and larger total supply.
