Dash or Litecoin? Crypto Comparison
It seems that the battle between some similar cryptocurrencies, such as Dash or Litecoin, is always on. Both are different cryptocurrencies, but with recognisable characteristics. While Dash focuses mainly on privacy-based transactions and enabling instant payouts globally, Litecoin (LTC) targets not only transaction speeds, but also a no-fee policy that lets people anywhere use the currency without any restrictions.
First and foremost, Dash is the first-ever privacy-focused cryptocurrency. It became popular as a means of payment for legal and illicit activities since it had the possibility for payments to be transacted entirely anonymously.
Created by Charlie Lee in 2011, LTC gained traction as a cryptocurrency that could be transacted quickly and cheaply. It was also known as one of only a few cryptocurrencies that could be mined without using expensive hardware or graphic cards. Since every cryptocurrency has its own advantages and disadvantages, let’s name a few.
Dash crypto developed a unique reward system that incentivises Masternodes and stands for the whole ecosystem. With it, users can send money across the globe for minimal fees while, at the same time, enjoying the highest possible security through a so-called “PrivateSend” feature.
However, there are some rumors within its community regarding its dispersion. Because approximately two million coins were distributed between developers, community members question its decentralisation.
On the other hand, Litecoin is a peer-to-peer network that removes all the need for intermediaries such as central banks. The nodes are globally spread, so the price cannot be impacted by anyone responsible for the individual node. The LTC network is also very scalable and can process 56 transactions per second. The transactions are fast, so the hacking attempts are pretty much impossible.
Still, there are particular worries regarding its credibility. While Charlie Lee stands for a respected persona within the industry, his popularity deteriorated after withdrawing from the payment processing platform Litepay.
Dash or Litecoin: Which is a Better Investment?
Some argue that what puts Dash in the lead of numerous altcoins is its extreme transaction speed enabled via InstantSend, with which you can send payments for confirmation in under a second. Compared with the scaling issues that have troubled LTC and other cryptos, that makes Dash a little bit more interesting to traders.
However, we must agree that both coins have a long-term and HODL prospect. As always, it is essential to DYOR and choose accordingly. The question between these two has been discussed for a long time now. There are some fundamental differences between the two cryptocurrencies we mentioned earlier, and one should be aware of them if planning to invest.
The price of both tokens is somewhat similar. At the time of writing, Dash stood at $42.42 while LTC was $45.32.
Author: Teuta Franjkovic
A sincere writer with a strong will to share knowledge on all things blockchain, crypto, metaverse and DeFi. Starting out as a writer with Cosmopolitan, Teuta has risen through the ranks of business journalism, editing newspapers and websites within the fintech industry for over 15 years. She holds a double MA in Public Politics and Entrepreneurship.