The Lifetime War Between Ripple(XRP) And Litecoin(LTC) Settled
The emergence of Bitcoin into the digital finance world in 2009 brought about the invention of some other altcoins and they are all struggling to be among the best if not the best in the crypto verse. Usually, when two or more entities are within the same sphere, they contest against one another to determine who is the best especially when they follow each other bumper to bumper.
The crypt sphere is a large space that impregnates numbers of altcoins competing for their right. With much focus on the first ten altcoins, amongst which you will find Ripple in the 3rd position and Litecoin in the 5th position according to coinranking.com, the two altcoins are great competitors.
Both of them are great altcoins with outstanding performance and great potentials that truly make them sit amongst the trailblazers.
The two altcoins are known to be competing contenders, as they the keep abreast on one another. With the variation and fluctuation in the crypto market which also affect both coins and their values, different opinion has been rousing from people on which of the coin is the best or which has better future than the other. Some will even extend to arguing that which will unseat the other.
While some people are of the opinion that Ripple, which only lit the world a year ago is a currency which will take over the world especially in transactions due to its tools proficiency in cross-border transaction, others are of the sentiment that Litecoin is more popular and versatile than Ripple, because it is not only centered on a function like ripple but can be used for sundry of everyday transactions.
Some have even exacerbated to saying, Ripple is less popular, not as sophisticated and reliable as Litecoin because it has not been included on Coinbase while Litecoin has.
As if all this was not enough, Panos Mourdoukoutas, a columnist who wrote a post on Forbes that “Bitcoin, Ethereum And Litecoin Are The Most Popular Cryptocurrency Investments Among Millennials”, following a survey on 1000 Americans.
According to the survey, Millennials said they could invest their $10,000 on the stated most popular coin, where 76% of the millennials said they would invest their $10,000 in Bitcoin and 12% said they would for both Ethereum and Litecoin respectively, leaving Ripple out in the cold.
The post, which gained a handsome number of readers in a short while as people wanted to know what it contains and give out their views, created lasting disruption all over the media.
The post has now stimulated series of opinion and argument with some people accepting the hypothesis, while others claim that the sample size is too small and insignificant to obtain a general and genuine fact.
Ripple And Litecoin.
Looking at the table rank based on market cap, Ripple is the winner, while Litecoin is the runner-up, but there are numbers of other criteria that can also be used to compare both.
Source: Wallet Investor.
Source: Wallet Investor.
Litecoin (LTC) was launched in 2011, and it a network that uses open source peer-to-peer blockchain technology with the aim of granting instantaneous, meager transaction cost to anyone in the world. The network is a mathematically secured one, which uses Scrypt algorithm which is inappropriate for ASIC miners. Litecoin is mined with CPUs and GPUs, therefore, it is a better coin when compared to Bitcoin.
On the other side, launched in 2012, Ripple (XRP) is an open-source payment blockchain technology with the goal of revitalizing financial transaction through well-designed and sophisticated payment systems.
Ripple grants frictionless transaction, which is fast, reliable and cost-effective to anyone around the world.
Observing the two altcoins vividly, one would notice that they are desirable pieces, with rare features, seated at the top of the table with undoubting popularity. They are great performers that offer advanced technology over Bitcoin protocol.
Settling The Arguments
The above arguments, sentiments, opinions, and judgments, has now called for proper analysis on which of the two coin is more proficient and popular.
You might say that Litecoin has been added to Coinbase, while Ripple has not, therefore, the latter as a long way to go, but Ripple could counterbalance that as it has also been able to achieve outstanding and outnumbered partnerships with banks and financial institutions across the world, which Litecoin is no way near it.
The Bottom line.
To me, I think Litecoin was easily added to Coinbase because it is used for daily transaction and Coinbase deals mostly with individuals who are involved in such, while Ripple is able to acquire such partnership because of its focus, which is most useful for banks and institutions.
So far I am of the opinion that Litecoin is popular amongst individuals, due to its suitability for day to day transaction, while Ripple is much more popular in the realm of banks and financial institution because of the services it renders to them. Therefore, there is no need to compare both.