Groestlcoin [GRS] vs Litecoin [LTC]

Transaction Speed Test

The purpose of these tests are to compare the real world usability of various cryptocurrencies.

Today we will test Groestlcoin [GRS] and Litecoin [LTC], but before we do that let’s take a look at tech specs and prices of both coins.

06 Feb 2018 prices

In this test we used Groestlpay wallet for Groestlcoin and LoafWallet for Litecoin.

Groestlpay Wallet

Groestlpay wallet is a multi-platform (Windows, Mac, Linux, Android, iOS, Web, Chrome OS) wallet, making Groestlcoin one of the 8 coins that have their own wallets on App Store.

You can use Groestlpay on all those platforms, make instant and secure payments with subAtomic fees ($0.0001 per transaction) and share it with your friends and family thanks to the multi-signature feature (funds are spent after the transaction has the required number of signatures).

You can also store multiple sub-wallets and add your favourite contacts to them for quick and easy transactions (you’ll see that in the video below).

LoafWallet

LoafWallet is the Android and iOS wallet for Litecoin, developed by Litecoin Foundation. It’s a quick wallet, but needs some updates and new features.

The most frustrating problem was the constant “syncing” part. After crash, the app it has to resync everytime.

The problem appears after a various number of transactions when you need to sync your wallet, again and again, sometimes it even stops working and the wallet crashes or you get the error “Transaction Rejected” (check out the Litecoin video).

This problem was already reported here: https://github.com/litecoin-foundation/loafwallet-android/issues/37

People also reported 15 more problems here: https://github.com/litecoin-foundation/loafwallet-android/issues

Loafwallet needs many bugfixes to make it more user-friendly.

Let’s see how each wallet handles the transactions

We made 20 transactions back and forth as quickly as we could. We are only showing 5 transactions due to the video length. For this test we used 2 Android phones.

Groestlcoin wallet ○ Groestlpay

We scanned both wallet addresses and saved them as “wallet 1” and “wallet 2” to contacts for quick payments.

The transactions are instant and you can spend your received GRS immediately. The receiving message has a little delay and that’s why we’ve refreshed the wallet manually. This will be fixed on a future update.

Litecoin wallet ○ LoafWallet

We copied both wallet addresses to clipboard and paste them every time we made a transaction for quick payment.

The Litecoin wallet is almost as fast as Groestlcoin wallet, but we encountered some problems as showed in the video below. Sometimes you can’t use the receiving funds immediately and it can take significant time until you can use your funds again. Until then, your funds are stucked.

The problems we encountered with LoafWallet

Wallet fees for sending 25$

Groestlpay [GRS] = 0.000193 GRS = $ 0.0001 (current GRS price $0.6)

LoafWallet [LTC] = 0.0013 LTC = $ 0.2 (current LTC price $154)

As you can see Groestlpay is ready for everyday use in real-world situations. Instant transactions, almost zero fees and many cool features, making this wallet perfect for you and your family.