Ripple vs litecoin
Both the Ripple and the Litecoin are the cryptocurrency where ripple was established in the year 2012 for-profit organization with the main motive of facilitating the payments in the financial institutions and large corporation whereas Litecoin was established in the year 2011 with the main motive of facilitating peer-to-peer along with the daily transactions.
Ripple was created with the intention of making cross-border transactions secure, cheaper and delivering it at a faster rate. While ripple started growing, it started attracting a lot of big corporations and financial institutions like banks. It has become very popular that some big multinational corporations are seriously thinking about using ripple for their cross-border transactions. Later on, Ripple started concentrating more on the big picture that is making transactions for the big financial institutions and large corporations. This made Ripple leave the individual transactions behind.
Litecoin is an open-source system that is run on the Scrypt algorithm. It is also useful for transactions. Litecoin was created for the same purpose as that of Ripple. But Litecoin has more functions when we compare it with Ripple. For example, Litecoin can be used for day to day transactions and the transactions can also be done on a peer-to-peer basis.
Both the cryptocurrencies are very similar to each other. In fact, the competition between them makes each other stronger as Ripple or Litecoin try to increase the market share of each other.
Here are other differences we think is important to point out:
Ripple has a four percent of market cap whereas Litecoin has a three percent of market cap.
The total transaction time taken in the case of Ripple is four seconds whereas the total transaction time taken in the case of Litecoin is two and a half minutes.
Ripple runs on RPCA (Ripple Protocol Consensus Algorithm) whereas Litecoin runs on the Scrypt algorithm.
In the case of Ripple, transactions are made via currencies issued by Ripple Labs whereas, in the case of Litecoin, transactions are made via mining and that too on uncomplicated algorithms.
Ripple solely focuses on transactions executed at an international level whereas Litecoin focuses on offshore transactions, peer to peer transactions and day to day transactions as well.