RATE Group | Comparing Original Cryptocurrencies New York Coin and Litecoin
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Comparing Original Cryptocurrencies New York Coin and Litecoin

21 Mar Comparing Original Cryptocurrencies New York Coin and Litecoin

Posted at 16:08h in Cryptocurrency News by

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new york coin, nyc coin, bitcoin, litecoin, crypto, cryptocurrency, cryptocurrencies, blockchain

Litecoin (symbol: LTC) and New York Coin (symbol: NYC) are almost identical in technical terms. Both cryptocurrencies use the same proof-of-work scrypt hashing algorithm to verify transactions on their network. Meaning they are both mined exactly the same way, using the same computer equipment to solve complex mathematical equations in order to verify a new transaction is authentic. Litecoin ( https://litecoin.org ) was launched in 2011 by an ex-Google software engineer, Charlie Lee, as a fork of the Bitcoin ( https://bitcoin.org ) blockchain. Litecoin lowered Bitcoin’s 10 minute block time to 2.5 minutes, making transaction verification faster and reduced fees to send funds. New York Coin ( https://nycoin.net ) launched in 2014 by an anonymous developer(s) as a fork of the Litecoin blockchain. New York Coin lowered Litecoin’s 2.5 minute block time to 30…

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