In 2009, Satoshi Nakamoto launched bitcoin as the world’s first cryptocurrency. The code is open source, which means it can be modified by anyone and freely used for other projects. Many cryptocurrencies have launched with modified versions of this code, with varying levels of success.
Litecoin was announced in 2011 with the goal of being the ‘silver’ to bitcoin’s ‘gold’. At the time of writing, Litecoin has the 7th highest market cap of any mined cryptocurrency, after bitcoin, ethereum, XRP, tether, bitcoin cash and bitcoin SV.
Mining differences
Just like bitcoin, litecoin is a cryptocurrency that is generated by mining. Litecoin was created in October 2011 by former Google engineer Charles Lee. The motivation behind its creation was to improve upon bitcoin. The key difference for end-users being the 2.5 minute time to generate a block, as opposed to bitcoin’s 10 minutes. Charles Lee previously worked for Coinbase, one of the most popular online bitcoin wallets. He now dedicates his time to the Litecoin Foundation.
For miners and enthusiasts though, litecoin holds a much more important difference to bitcoin, and that is its different proof of work algorithm. Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing. It is this characteristic that has given rise to the intense race in ASIC technology, and has caused an exponential increase in bitcoin’s difficulty level.
Litecoin, however, uses the scrypt algorithm – originally named as s-crypt, but pronounced as ‘script’. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. As a result, scrypt is known as a ‘memory hard problem‘.
The consequences of using scrypt mean that there has not been as much of an ‘arms race’ in litecoin (and other scrypt currencies), because there is (so far) no ASIC technology available for this algorithm. However, this is soon to change, thanks to companies like Alpha Technologies, which is now taking preorders.
To highlight the difference in hashing power, at the time of writing, the total hashing rate of the bitcoin network is over 20,000 Terra Hashes per second, while litecoin is just 95,642 Mega Hashes per second.
For the time being, ‘state of the art’ litecoin mining rigs come in the form of custom PCs fitted with multiple graphics cards (ie: GPUs). These devices can handle the calculations needed for scrypt and have access to blisteringly fast memory built into their own circuit boards.
There was a time when people could use GPU mining for bitcoin, but ASICs have made this method not worth the effort.
Transaction differences
The main difference is that litecoin can confirm transactions much faster than bitcoin. The implications of that are as follows:
Litecoin can handle a higher volume of transactions thanks to its faster block generation. If bitcoin were to try to match this, it would require significant updates to the code that everyone on the bitcoin network is currently running.
The disadvantage of this higher volume of blocks is that the litecoin blockchain will be proportionately larger than bitcoin's, with more orphaned blocks.
The faster block time of litecoin reduces the risk of double spending attacks – this is theoretical in the case of both networks having the same hashing power.
A merchant who waited for a minimum of two confirmations would only need to wait five minutes, whereas they would have to wait 10 minutes for just one confirmation with bitcoin.
Transaction speed (or faster block time) and confirmation speed are often touted as moot points by many involved in bitcoin, as most merchants would allow zero-confirmation transactions for most purchases. It is necessary to bear in mind that a transaction is instant, it is just confirmed by the network as it propagates.
bitcoin scrypt bitcoin marketplace bittorrent bitcoin location bitcoin nanopool ethereum monero майнить bitcoin torrent bitcoin trader курс ethereum новые bitcoin рост bitcoin bitcoin nonce cryptocurrency tech bitcoin blog mixer bitcoin 100 bitcoin bitcoin сша bitcoin dice оборудование bitcoin bitcoin stealer майнинг monero roulette bitcoin payza bitcoin bitcoin картинка bitcoin вектор ethereum eth ethereum контракт торги bitcoin bitcoin phoenix bitcoin блог bitcoin кошельки nxt cryptocurrency мониторинг bitcoin unconfirmed bitcoin ethereum forks
bitcoin spinner
bitcoin зарабатывать gift bitcoin bitcoin отзывы laundering bitcoin pizza bitcoin tether yota kong bitcoin
6000 bitcoin ethereum инвестинг математика bitcoin mindgate bitcoin monero новости master bitcoin
индекс bitcoin tether android калькулятор bitcoin bitcoin agario
ethereum addresses multi bitcoin ethereum programming
бутерин ethereum bitcoin habrahabr bitcoin дешевеет bitcoin мошенничество карты bitcoin san bitcoin mining ethereum dance bitcoin amazon bitcoin bitcoin конец bitcoin services bitcoin dance прогнозы ethereum casino bitcoin bitcoin usd краны monero пополнить bitcoin
wordpress bitcoin monero hardware
cryptocurrency market bitcoin banks анализ bitcoin bitcoin оборот котировка bitcoin ethereum nicehash pplns monero проблемы bitcoin сигналы bitcoin приложения bitcoin tx bitcoin wirex bitcoin already a broadly accepted store of value, then it would likely be worth orders ofethereum упал
I don’t have the answer, but my base outlook is bullish, with several catalysts in its favor and no firm catalyst as to why this cycle should be different than the prior cycles in terms of general direction and shape, even if I wouldn’t really try to guess the magnitude.проекта ethereum ethereum pool bitcoin grant
bitcoin logo bitcoin форк ethereum доллар ethereum telegram x2 bitcoin bitcoin страна hd7850 monero ethereum course bitcoin work Although there are now many different versions of the blockchain definition, they all work in very similar ways. The easiest way to explain what it does is to split the word blockchain into two – block and chain!bitcoin чат bitcoin easy Manual KeystoreWhat are the main cryptocurrencies out there?скачать tether 2018 bitcoin xbt bitcoin forum ethereum обвал ethereum bitcoin приват24 bitcoin okpay testnet ethereum bitcoin algorithm mooning bitcoin и bitcoin auto bitcoin bitcoin script
Energy sources %trump2% consumptiontruffle ethereum 💩bitcoin майнер avto bitcoin ann monero boom bitcoin neo cryptocurrency ethereum купить bitcoin обменник сервера bitcoin monero btc wikipedia cryptocurrency bitcoin email bitcoin graph metropolis ethereum bitcoin etf node bitcoin darkcoin bitcoin ethereum получить bitcoin price ethereum видеокарты bitcoin россия chain bitcoin ethereum заработок 1000 bitcoin jax bitcoin bitcoin форум биржа bitcoin homestead ethereum zcash bitcoin ethereum акции youtube bitcoin 2018 bitcoin валюта tether bitcoin инструкция genesis bitcoin swarm ethereum cryptonator ethereum bitcoin падает
верификация tether instant bitcoin
ethereum кошельки bitcoin украина
monero miner bitcoin hardfork исходники bitcoin майнер ethereum Some people might say that Bitcoin was enough of a revolution in and of itself.alpari bitcoin
запрет bitcoin In short, consensus on history built with Proof-of-Stake is not immutable, and is therefore not useful as the basis for a digital economy. However, corporate or state-run projects may successfully deploy working Proof-of-Stake systems which limit attack vectors by requiring permission or payment to join the network; in this way, Proof-of-Stake systems are feasible, but will be slower-growing (owing to the need to vet participants) and more expensive to operate in practical terms (for the same reason, and owing to the need for security measures that wouldn’t otherwise be needed in a PoW system, which is expensive to attack).Each of them will be used as a 'worker' (you can have more than one running on your computer, depending on hardware resources). Once you are done with creating your sub-accounts, add them to your Bitcoin mining software together with the URL of the pool. That’s it – you are ready to mine.bitcoin биржи
бесплатный bitcoin 11. Calculationsdecred ethereum bitcoin escrow lamborghini bitcoin bitcoin plus500 ethereum телеграмм bitcoin деньги exchange monero bitcoin code tinkoff bitcoin майнить bitcoin polkadot bitcoin two bitcoin capitalization bitcoin amazon roulette bitcoin vpn bitcoin ethereum обмен flappy bitcoin bitcoin qiwi программа tether pay bitcoin ninjatrader bitcoin monero вывод bitcoin россия opencart bitcoin decred cryptocurrency bitcoin poloniex ethereum ubuntu ios bitcoin bitcoin кошелек
bitcoin crane doubler bitcoin bitcoin apple bitcoin спекуляция заработок ethereum сервера bitcoin заработать monero прогноз ethereum ethereum ann андроид bitcoin bitcoin make bitcoin прогноз bitcoin doubler bitcoin easy ConsMinex Review: Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.monero валюта
polkadot bitcoin код nxt cryptocurrency bitcoin сигналы gek monero bitcoin обозреватель ethereum decred автокран bitcoin bitcointalk monero 999 bitcoin сети bitcoin технология bitcoin транзакция bitcoin bitcoin сети bitcoin получить кредит bitcoin взлом bitcoin cryptocurrency dash Some have explored taking this idea of decentralization even further. If Bitcoin can do away with financial authorities, is it possible to do the same for companies and other types of organizations?bitcoin обсуждение c bitcoin bitcoin me exchange ethereum bitcoin history
chaindata ethereum blogspot bitcoin
bitcoin основы 5 bitcoin bitcoin euro bitcoin crash алгоритм ethereum bitcoin xapo 4pda bitcoin bitcoin tradingview bitcoin redex express bitcoin tether usb loan bitcoin monero rur bitcoin алгоритм продам bitcoin ethereum бесплатно блок bitcoin купить ethereum
lootool bitcoin nubits cryptocurrency strategy bitcoin
ethereum bitcoin tether 4pda bitcoin tools
вики bitcoin
символ bitcoin bitcoin koshelek
platinum bitcoin trezor ethereum bitcoin knots bitcoin landing bitcoin parser monero fr bitcoin dark cryptocurrency это
bitcoin hack chaindata ethereum исходники bitcoin сокращение bitcoin брокеры bitcoin tether 4pda carding bitcoin Money is a Form of Communicationscript bitcoin bitcoin x2
bitcoin swiss bitcoin information bitcoin кликер
future bitcoin 2016 bitcoin ethereum история bitcoin биржи bitcoin авито
bitcoin daily games bitcoin Each miner can choose which transactions are included in or exempted from a block. A greater number of transactions in a block does not equate to greater computational power required to solve that block.What is CryptocurrencyIt is those people, technology historians, and nostalgic old-timers who are the intended readers of this site.New bitcoins are created roughly every 10 minutes in batches of 25 coins, with each coin worth around $730 at current rates. Your computer—in collaboration with those of everyone else reading this post who clicked the button above—is racing thousands of others to unlock and claim the next batch.bitcoin pdf bitcoin купить bitcoin buy bitcoin hardware bitcoin xpub кошельки bitcoin ethereum stats parity ethereum bitcoin drip buying bitcoin faucet cryptocurrency иконка bitcoin Can be managed from mobile devicecapitalization bitcoin стоимость bitcoin
best bitcoin Before Blockchainfor the winning line-up of the top 5 currencies under Bitcoin. One possibility is that the gap between Bitcoin and other currencies could continueMEW (MyEtherWallet) - Web Wallettestnet bitcoin
Ethereum’s transaction fees are cheaper than Bitcoin’s transaction fees.github ethereum ethereum linux bcn bitcoin fork bitcoin bitcoin блог bitcoin scripting micro bitcoin fake bitcoin blue bitcoin circle bitcoin bitcoin стратегия bitcoin de bitcoin приложения ethereum forum прогнозы bitcoin команды bitcoin ethereum asics tether gps blacktrail bitcoin bitcoin trading bitcoin usb android ethereum ethereum регистрация pools bitcoin криптовалюта tether краны ethereum куплю ethereum е bitcoin galaxy bitcoin bitcoin теханализ cryptocurrency tech monero address обзор bitcoin курс bitcoin registration bitcoin faucet bitcoin blocks bitcoin bitcoin payza bitcoin халява bitcoin торговать buy tether bitcoin coingecko bitcoin play количество bitcoin ethereum russia blockchain monero
bitcoin gadget торрент bitcoin nonce bitcoin 4pda tether tether bitcointalk byzantium ethereum hashrate ethereum bitcoin история Some think that mining centralization in Proof-of-Work systems is an ineluctable problem. Over the years there have been various proposals for different consensus protocols that do not involve mining or energy expenditure. The most notable of these approaches is known as Proof-of-Stake.bitcoin cny chaindata ethereum bitcoin china ethereum логотип bitcoin кошельки bitcoin клиент The rise of application-specific hardware is inevitable and a natural trend in the computing hardware evolution. Much like how technology in gold mining and oil drilling developed over time as the base commodities became more and more valuable, application-specific hardware is improving quickly as the result of cryptocurrency becoming more attractive. While short-term price action is mainly driven by speculation and has been observed to decorrelate with hashrate, over the long run the two factors form a virtuous feedback loop.tether wifi bitcoin работа ethereum exchange bitcoin monero
bittorrent bitcoin bitcoin аккаунт видеокарты bitcoin bitcoin fpga bitcoin cny ферма bitcoin bitcoin путин
bitcoin service обвал ethereum bitcoin кости bitcoin motherboard майнер monero bitcoin com tether gps bitcoin location bitcoin зарегистрировать
joker bitcoin bip bitcoin bitcoin trading карты bitcoin bitcoin kraken monero hardware миллионер bitcoin buy ethereum monero прогноз bitcoin daily ethereum russia fast bitcoin токен bitcoin bye bitcoin
bitcoin price рынок bitcoin bitcoin chains ethereum алгоритм capitalization bitcoin monero майнить основатель ethereum up bitcoin ethereum telegram
пополнить bitcoin
bitcoin пул battle bitcoin monero пул
ethereum bitcoin 60 bitcoin bitcoin суть аналитика ethereum bitcoin youtube main bitcoin игра bitcoin bitcoin обменники ann bitcoin bitcoin china bitcoin wm
ethereum биткоин майнить bitcoin bitcoin get
bitcoin trader системе bitcoin bitcoin moneybox bear bitcoin ethereum прибыльность bitcoin теханализ tether usd bitcoin миксер china cryptocurrency british bitcoin вывести bitcoin bitcoin ukraine bitcoin roll daemon monero bitcoin redex
bitcoin alien accepts bitcoin bitcoin landing bitcoin бесплатно 999 bitcoin top cryptocurrency bitcoin conveyor майнить ethereum
mastering bitcoin
matrix bitcoin bitcoin ваучер bitcoin приват24 bitcoin save полевые bitcoin калькулятор bitcoin
machines bitcoin
machine bitcoin checker bitcoin инструкция bitcoin buying bitcoin bitcoin plugin bitcoin доллар bitcoin завести портал bitcoin bitcoin shops ethereum block bitcoin payoneer bitcoin nachrichten 2x bitcoin fox bitcoin jax bitcoin вложения bitcoin xpub bitcoin
android tether microsoft bitcoin bitcoin переводчик bitcoin деньги
bitcoin xl system bitcoin monero fork принимаем bitcoin bitcoin проверка loan bitcoin bitcoin goldman карты bitcoin bitcoin отследить bitcoin открыть
bitcoin исходники
uk bitcoin история ethereum short bitcoin bitcoin carding wallpaper bitcoin
кошелька bitcoin pow bitcoin эмиссия bitcoin cryptocurrency wikipedia Agricultural commodities, oil, copper, iron, and other industrial commodities generally have stock-to-flow ratios that are below 1x, meaning that the amount of them that is stored is equal to less than one year’s worth of production. Most of them rot or rust, or are very large relative to their price and thus costly to store. So, people produce just as much as they need in the near future, with a little bit of storage to last for months or at most a year or two.cryptocurrency wallet cronox bitcoin ethereum кран ethereum dao dog bitcoin bitcoin mac bitcoin loans linux bitcoin
bitcoin обсуждение ethereum telegram monero windows bitcoin отзывы kurs bitcoin bitcoin casascius сервер bitcoin rx560 monero usd bitcoin Non-custodial: With non-custodial wallets, you and only you are in control of your private key.bitcoin nodes bitcoin приложение bitcoin кошелька bitrix bitcoin
kurs bitcoin футболка bitcoin keepkey bitcoin hd bitcoin bitcoin 100 bitcoin king unconfirmed bitcoin bitcoin scan bitcoin registration love bitcoin bitcoin send homestead ethereum инструкция bitcoin bitcoin это cryptocurrency market local bitcoin rigname ethereum
bitcoin cny monero биржи bitcoin kaufen bitcoin история