RE: Litecoin Price Surge Explained

Benefits for miners are likely a large part of the outlook for a cryptocurrency's future (if mining is used).

While Litecoin uses SHA256 for its hashing algorithm (like bitcoin), its implementation renders parallelizing calculations impossible. Parallelizing a calculation requires more memory, resulting in a tougher competition for miner acceptance. Another notable difference is that LTC's protocols have a fast faster block creation time, enabling miners to have a better opportunity to solve more blocks.

All in all, I believe LTC presents a better environment (currently) for miners than BTC.