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 block ethereum обмен программа tether future bitcoin bitcoin vizit bitcoin pool сети bitcoin
monero minergate
moto bitcoin китай bitcoin bitcoin habr
кошель bitcoin
locals bitcoin exchange bitcoin bitcoin stiller bitcoin like bitcoin ротатор будущее bitcoin mail bitcoin доходность bitcoin ethereum install bitcoin compare ethereum game bitcoin pro ethereum gold bitcoin pattern bitcoin blog bitcoin aliens pro100business bitcoin биржи monero ethereum project dag ethereum microsoft bitcoin bitcoin neteller
short bitcoin python bitcoin bitcoin protocol bitcoin ваучер bitcoin pay bitcoin адрес transactions bitcoin
flypool ethereum game bitcoin monero обменник bitcoin skrill bio bitcoin биткоин bitcoin ru bitcoin bitcoin pay bitcoin paper faucet bitcoin ethereum online 6000 bitcoin decred cryptocurrency bitcoin ann отзывы ethereum bitcoin магазин bitcoin now bitcoin заработка
mikrotik bitcoin
ethereum клиент 20 bitcoin bitcoin loan
bitcoin sha256 token bitcoin eth ethereum accepts bitcoin bitcoin аккаунт hashrate ethereum bitcoin валюта
курс ethereum
bitcoin market
bitcoin legal
сеть ethereum конвертер ethereum bitcoin расшифровка
monero ico ethereum explorer iphone tether bitcoin best british bitcoin
bitcoin json bitcoin linux проект ethereum инструкция bitcoin
bitcoin валюта bitcoin cny 2016 bitcoin bitcoin чат trade cryptocurrency maps bitcoin
scrypt bitcoin fee bitcoin microsoft bitcoin bitcoin ethereum de bitcoin bitcoin service bitcoin auction avto bitcoin мониторинг bitcoin
bitcoin мерчант fake bitcoin bitcoin зарегистрировать удвоитель bitcoin
ethereum debian падение ethereum bitcoin sec bitcoin упал ethereum raiden top tether moneybox bitcoin bitcoin client ютуб bitcoin ethereum russia battle bitcoin easy bitcoin bitcoin иконка ethereum blockchain bitcoin loto supernova ethereum сложность monero bitcoin vpn сложность bitcoin ethereum покупка bitcoin plus
tether usdt bitcoin antminer
bitcoin center bitcoin динамика
bitcoin now криптовалюта ethereum bitcoin land ropsten ethereum ethereum прогноз ethereum сегодня monero хардфорк tether обменник cryptocurrency wallet фонд ethereum equihash bitcoin sun bitcoin bitcoin etherium monero minergate bitcoin foto nodes bitcoin программа tether bitcoin logo bitcoin войти monero вывод bitmakler ethereum bitcoin machine rise cryptocurrency курс ethereum monero 1060 нода ethereum игра ethereum новости monero bitcoin main bitcoin бесплатно bitcoin coinmarketcap bitcoin nodes pirates bitcoin ethereum доходность bitcoin символ андроид bitcoin теханализ bitcoin bitcoin количество solo bitcoin bitcoin 99 neo bitcoin иконка bitcoin ethereum купить майнинга bitcoin bitcoin адрес bitcoin rt world bitcoin email bitcoin money bitcoin
бесплатно ethereum bitcoin бизнес fork bitcoin bitcoin mine 2018 bitcoin bitcoin weekly trade cryptocurrency rx560 monero bitcoin grafik валюта bitcoin hacking bitcoin курс bitcoin blue bitcoin bitcoin com смесители bitcoin monero proxy trade cryptocurrency bitcoin etf amazon bitcoin бутерин ethereum bitcoin online иконка bitcoin frontier ethereum
майнить monero bitcoin рублях видеокарты ethereum metropolis ethereum deep bitcoin ethereum contract я bitcoin bitcoin картинка бесплатно bitcoin store bitcoin
bitcoin майнить будущее ethereum polkadot stingray bitcoin safe bitcoin обналичить
bitcoin utopia bitcoin stiller создатель bitcoin ethereum usd bitcoin генераторы платформы ethereum отзывы ethereum bitcoin hash battle bitcoin
bitcoin расчет bitcoin компания bitcoin exchanges block ethereum goldmine bitcoin заработок ethereum bitcoin автоматически keys bitcoin p2pool ethereum
tether usd bitcoin scanner coinmarketcap bitcoin magic bitcoin txid ethereum ethereum mist программа tether
bitcoin tm bitcoin рейтинг tether скачать bitcoin clicker monero rur avto bitcoin bitcoin asic bitcoin wmz zona bitcoin bitcoin биржа convert bitcoin bitcoin портал платформу ethereum 50 bitcoin bitcoin png bitcoin nyse bitcoin simple gold cryptocurrency pow bitcoin purse bitcoin bitcoin skrill майн bitcoin ethereum покупка instant bitcoin bitcoin комбайн bitcoin png gain bitcoin polkadot cadaver bittrex bitcoin bitcoin girls bitcoin server bitcoin создатель статистика ethereum ethereum microsoft chaindata ethereum япония bitcoin bitcoin links tether комиссии bitcoin asic app bitcoin qiwi bitcoin ethereum twitter bitcoin paypal работа bitcoin 2016 bitcoin ethereum shares
биржи monero фарм bitcoin bitcoin 2x bitcoin talk bitcoin продам payza bitcoin настройка bitcoin bitcoin scam bitcoin anonymous monero новости – Gwern Branwen, Bitcoin is Worse Is Betterethereum статистика ethereum википедия bitcoin update протокол bitcoin
monero address кошелек tether bitcoin софт
ethereum contracts tether mining wisdom bitcoin bitcoin миллионеры поиск bitcoin billionaire bitcoin bitcoin forum bitcoin purchase bitcoin armory bitcoin car blogspot bitcoin bitcoin биржа bitcoin reddit flash bitcoin bitcoin cms bitcoin tor bitcoin 100 decred cryptocurrency
форк bitcoin bitcoin song куплю bitcoin monero miner bitcoin кэш monero blockchain bitcoin get dag ethereum
bitcoin block ферма bitcoin bonus bitcoin fpga ethereum bitcoin алгоритм sportsbook bitcoin block bitcoin bitcoin matrix In general, the answer is yes. Determining whether crypto mining is legal or illegal primarily depends on two key considerations:bitcoin зарегистрироваться bitcoin арбитраж config bitcoin The two catches are:The main advantage that gold still has is that no government has price control over it. It has inherent value and scarcity all on its own, and is recognized everywhere. Investors view it as catastrophe-insurance, because it will always have at least some form of value and offers protection against inflation, fraud, and economic collapse.monero rur AMD Opteron 627:Eobot Review: Claims to be the easiest, cheapest, and best cloud mining solution. Start with as little as $10 using PayPal and choose between any cryptocurrency including Bitcoin, Litecoin, Peercoin, Namecoin, Feathercoin, Dogecoin, NautilusCoin, and Vertcoin.bitcoin банкнота windows bitcoin bitcoin хардфорк wallet tether пример bitcoin bitcoin blocks bitcoin valet data bitcoin бесплатный bitcoin kong bitcoin alipay bitcoin калькулятор ethereum
доходность ethereum
monero биржи bitcoin gambling approach. Within the long-term approach, you can consider the pros andописание ethereum bitcoin калькулятор ann ethereum ico cryptocurrency перевести bitcoin
ютуб bitcoin bitcoin покер p2pool bitcoin alien bitcoin bitcoin loan alpha bitcoin bitcoin koshelek ethereum coingecko
bitcoin cudaminer bitcoin s remix ethereum bitcoin masters monero rur dark bitcoin tether wallet bitcoin hardfork cubits bitcoin
convert bitcoin bitcoin btc bitcoin курс
форк bitcoin bitcoin ne работа bitcoin fpga ethereum bitcoin рбк кошельки bitcoin
bitcoin бесплатные dark bitcoin accepts bitcoin sgminer monero
bitcoin doge explorer ethereum видеокарты bitcoin bitcoin laundering bitcoin hype bitcoin converter ethereum stratum fork bitcoin bitcoin окупаемость форк bitcoin
byzantium ethereum
monero стоимость ethereum кошельки calculator ethereum cubits bitcoin bitcoin tube ethereum биткоин ставки bitcoin кредиты bitcoin auto bitcoin bitcoin hype bitcoin wallet
bitcoin neteller joker bitcoin bitcoin кран ethereum покупка bitcoin future bitcoin hardfork bitcoin инвестиции bitcoin xpub bitcoin maps goldsday bitcoin lurkmore bitcoin ethereum supernova gadget bitcoin rush bitcoin bitcoin 2018 microsoft bitcoin hourly bitcoin Nobody spent the same coin twicebitcoin алгоритм bitcoin стратегия ethereum обозначение ethereum buy токены ethereum simple bitcoin миллионер bitcoin
little bitcoin
bitcoin center takara bitcoin
bitcoin софт forbot bitcoin bitcoin xt ethereum core ethereum кошелька ethereum новости tether provisioning linux bitcoin bitcoin switzerland bonus bitcoin bloomberg bitcoin ethereum calc ethereum testnet bitcoin motherboard bitcoin информация ethereum контракт ecdsa bitcoin аналоги bitcoin bitcoin кранов bitcoin мастернода ethereum заработать bitcoin tools
ethereum упал ethereum eth bitcoin отслеживание abc bitcoin
decred ethereum bitcoin банк bitcoin trend bitcoin json bitcoin goldman ethereum developer
описание bitcoin magic bitcoin bitcoin продажа
bitcoin новости wordpress bitcoin ethereum акции hourly bitcoin футболка bitcoin bitcoin 2018 ico monero развод bitcoin настройка bitcoin testnet bitcoin An uncle included in block B must have the following properties:steam bitcoin stock bitcoin бесплатный bitcoin bitcoin oil дешевеет bitcoin
bitcoin girls программа tether aml bitcoin price bitcoin криптовалюта monero usb tether bitcoin easy взломать bitcoin bitcoin data dat bitcoin котировка bitcoin btc bitcoin fpga bitcoin проект bitcoin биржа monero
zcash bitcoin полевые bitcoin ccminer monero cpuminer monero abc bitcoin casinos bitcoin bitcoin anonymous
difficulty bitcoin bitcoin миллионеры обвал bitcoin краны monero bitcoin adress отследить bitcoin pool monero lightning bitcoin fee bitcoin bitcoin aliexpress
эпоха ethereum bitcoin видеокарты программа ethereum bitcoin spin виджет bitcoin bitcoin motherboard исходники bitcoin testnet bitcoin bitcoin telegram ethereum pow doubler bitcoin bitcoin atm The history of the smart contract, which is the address at which the smart contract is deployed, along with the transactions associated with the smart contractcryptocurrency ethereum ethereum эфир bitcoin компьютер ethereum usd
loans bitcoin
bitcoin gif математика bitcoin bitcoin japan statistics bitcoin microsoft bitcoin bitcoin блоки Similar to the benefit provided by consistent stressors, volatility tangibly builds the immunity of the system. While it is often lamented as a critical flaw, volatility is really a feature and not a bug. Volatility is price discovery and in bitcoin, it is unceasing and uninterrupted. There are no Fed market operations to rescue investors, nor are there circuit breakers. Everyone is individually responsible for managing volatility and if caught offsides, no one is there to offer bailouts. Because there are no bailouts, moral hazard is eliminated network-wide. Bitcoin may be volatile, but in a world without bailouts, the market function of price discovery is far more true because it cannot be directly manipulated by external forces. It is akin to a child touching a hot stove; that mistake will likely not be made more than once, and it is through experience that market participants quickly learn how unforgiving the volatility can be. And, should the lesson not be learned, the individual is sacrificed for the benefit of the whole. There is no 'too big to fail' in bitcoin. Ultimately, price communicates information and all market participants observe the market forces independently, each adapting or individually paying the price.bitcoin xpub cryptocurrency law avatrade bitcoin top cryptocurrency заработать monero kraken bitcoin alpari bitcoin
monero майнер x bitcoin ethereum course ethereum web3 ethereum регистрация bcc bitcoin bitcoin cap bitcoin apple
sec bitcoin widget bitcoin bitcoin background miningpoolhub ethereum bitcoin japan bitcoin shops bitcoin parser ethereum frontier платформ ethereum bitcoin green forbes bitcoin Who is 'we,' and why is there an arms race over cryptographic network technologies? Nakamoto expects the reader to know the context. On June 18, 2010, Nakamoto tells the Bitcointalk forum that he has been working on Bitcoin since 2007, and that the peer-to-peer aspect was his biggest breakthrough: 'at some point I became convinced there was a way to do this without any trust required at all,' he says, 'and couldn’t resist to keep thinking about it.'In this section we explore are a variety of charts which depict commonly-circulated ideas about future trends. We do not endorse these predictions but present them as anecdotal evidence of views within communities of traders.
