When you hear of Litecoin or Nexty and their coins NTY and LTC, what comes us to your mind. If you thought of cryptocurrency then you are correct. But they can be both cryptocurrencies but are very different in how they work. So to see this clearer dive into the different ways on how these two cryptocurrencies are both similar and different in different fields.
To begin with, Nexty comprises a dual cryptocurrency confirmation system which comprises two very different cryptocurrencies operating parallelly. These two cryptocurrencies are the main one NTY and the latter one NTF which is used during the transaction confirmation system. While if you take a look at Litecoin you will find it is a single cryptocurrency system that is a peer to peer cryptocurrency and open source software project that is released under MIT/X11 licenses. With these concepts explained you get to see that they are both cryptocurrencies but actually work in very different ways. Some of the major similarities are-
Both the Nexty platform and Litecoin platforms are equipped with fast transaction processes. With the Nexty platform, you get the instant transaction process while in the Litecoin platform you get the lighting network, both of these features do the same thing which is conducting your transaction process almost instantly meaning you get your transactions processed as soon as you transact them.
Additionally, the Litecoin platform charges its transaction processes meaning that if you conduct a transaction you will have to pay a transaction fee this cannot be compared to the Nexty's platform which offers free transaction process meaning that when you conduct a transaction you don't have to pay a dime. Thus making the Nexty platform more convenient in this area.
In continuation, Unlike other blockchain platforms, the Litecoin platform and Nexty platform are both known to handle higher transaction volumes without the need of modifying the software in the future. This means that you can conduct more transactions without having a limit or limited to a certain number of transactions.
Also, we get to see that the Nexty platform has a price stabilization system which stabilizes the price of its cryptocurrency, unlike the Litecoins platform which is known to cap its cryptocurrency if it is mined too much. I know this is a controversial topic in cryptocurrency because if you don't cap your cryptocurrency and it's being mined too much it promotes inflation which is dangerous to the cryptocurrency but Nexty deals with this with its price stabilization system.
The algorithms of these two cryptocurrency platforms are also very different from each other. The Lite coin platform utilizes the scrypt algorithm, these algorithms are known to incorporate the SHA 256 algorithm and is known to favor devices with more or high-speed RAM rather than raw power. While the Nexty platform utilizes the consensus algorithm which does not require a very complex system for it to function properly unlike its counterpart the Litecoin platform.
In conclusion, we can see that both these cryptocurrency platforms roar in their different fields and lack in some fields but all in all if you are looking for a user-friendly cryptocurrency platform I would suggest the Nexty platform cause it is better suited in this area than its competitor.
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