DASH COIN VS LITECOIN
Here we are comparing Dash and Litecoin so first of all have a look about Dash and Litecoin.
WHAT IS Dash?
Dash advocates itself as peer to peer decentralized electronic cash.
Dash is buit upon bitcoin’s core code with the addition of new features like privacy and quick transactions that make it different from bitcoin and litecoin.Dash was originally released as XCoin (XCO) in january 2014 but in february 2014 the name was changed to “Darkcoin”. And on 25 March 2015, Darkcoin was rebranded as “Dash.
WHAT IS LITECOIN?
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities.Litecoin is created by Charlie Lee in 2011.Litecoin is pretty similar to bitcoin,if we says that bitcoin is digital gold than we can say that litecoin is similar to silver.
Comparision b/w Dash and Litecoin
Both the coin litecoin and dash has own advantage,specific features and also has some flaws that we are discussing here based upon some factors.
1. Hash algorithm
Litecoin uses scrypt. In crytpography scrypt is password based key derivation function for the tarsnap online backup service.The algorithm was specifically designed to make it costly to perform large scale custom hardware attack by requiring large amount of data.
while dash uses X11 is the name of chained hashing algorithm which is used for the proof of work calculatons.It is known as chained algorithm because it uses 11 different algorithms which are chained together.
Chained algorithms make Dash easier to use for mining when compared to other cryptocurrencies. For example, GPUs require 30% less electrical energy than the Litecoin’s Scrypt algorithm and are heated between 30% and 50% less.
Litecoin does not offer much privacy and has never claimed to do so. The litecoin blockchain is completely transparent,every transaction,its history and the amount being send or received is public or easily viewable.
but dash coin provide better privacy.Dash allows you to send your funds privately by mixing it in between several other transactions, thus making it hard to identify any specific transaction. It uses a coin mixing service based on CoinJoin.
A server called “master node” is required to expedite mixing process. Anyone can form Masternodes by holding 1000 Dash as collateral.
Dash is also called privacy coin but not litecoin.
3. Mining reward
In Litecoin/Bitcoin normally the block rewards will go in full to the miners. But with Dash the block rewards are split up in three different parts.
· 45% will go to the miners
· 45% will go to the master nodes
· 10% will go to treasury
This type of division is good because in litecoin node operators must cover the cost of running a full node completely out of pocket as the network grow,node operation become cost prohibited and thus node count has decreased over time but in Dash node cost are subsidized by block reward.It is profitable to run a full node hence node counts has increased over time
4. Transaction Speed And Fees
LTC can handle about 26 transactions per second.Currently, Litecoin’s minimum transaction and relay fees are set by default to 0.001 LTC/kB.
Now litecoin is trying to increase it’s transaction speed and reducing fees through implementing Lightning Network.
The Lightning Network is a technology upgrade that will potentially allow instant transactions as well as instant micro-transactions,Once the Lightning Network is implemented, Bitcoin’s transaction fees will be drastically reduced and we could have almost instant transactions
Dash is ahead of litecoin in transaction speed. In dash through InstantSend, you can send payments for confirmation in under a second. At this speed, you’ll pay higher processing fees to masternodes — or the computers that verify transactions.
According to the developers, Dash’s transfer speed allows more consumer uses of the cryptocurrency. Because transactions can be confirmed almost instantly, Dash could be better suited for “point of sale” transactions — for instance, buying a drink at a juice bar or paying for clothes at a store
5. Market Capitalization
Currently Litecoin is 7th largest cryptocurrency on coinmarketcp.com in term of market cap with $2,034,079,824.
Total supply of litecoin is 80 millions and current circulating supply is 59,354,799.
Dash is 14th largest cryptocurrency on coinmarketcp.com in term of market cap with $822,383,804.
Total supply of Dash coin is 18,900,000 and current curculating supply is 8,471,140.
Both of technologies is working on new features that will make these coin more user friendly,real world usable currencies and will tend cryptocurrencies to mass adoption.
Now that Dash 12.3 has been released, Dash’s next step will be to release an alpha version of Evolution toward the end of 2018. We will be making additional releases before then, including a full whitepaper
Now litecoin’s upgraded version Litecoin Core 0.16.3 released.Litecoin is also working on Lightning Network that will create massive change in litecoin and will be helpful for litecoin to achieve mass adoption.