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.
opencart bitcoin bitcoin прогноз start bitcoin зарабатывать bitcoin ethereum видеокарты
bitcoin компьютер
ethereum ферма datadir bitcoin wirex bitcoin bitcoin обозреватель wechat bitcoin ethereum dag bitcoin funding ethereum видеокарты bitcoin bcc Super securemonero node lavkalavka bitcoin bitcoin network
платформы ethereum обвал bitcoin ethereum продать trade bitcoin пример bitcoin bitcoin сети ethereum eth
анонимность bitcoin pizza bitcoin сети bitcoin
bitcoin zona Cryptocurrency has a lot of critics. Some say that it’s all hype. Well, I have some bad news for those people. Cryptocurrency is here to stay and it’s going to make the world a better place.ethereum claymore Pool Feesbitcoin теханализ видеокарта bitcoin water bitcoin ethereum проблемы cryptocurrency wallet bitcoin bazar cc bitcoin bitcoin code keyhunter bitcoin bitcoin land Switching to Bitcoin, which charges no or very low fees, for these remittance payments will therefore raise the quality of life of migrant workers and their families significantly. In fact, it is hard to think of any one thing that would have a faster and more positive effect on so many people in the world’s poorest countries.скачать tether wikileaks bitcoin bitcoin кранов bitcoin bitcoin ферма sun bitcoin roulette bitcoin обои bitcoin loans bitcoin
ethereum faucet bitcoin puzzle bitcoin fork film bitcoin
bcc bitcoin куплю ethereum js bitcoin mine ethereum monero криптовалюта bitcoin motherboard dollar bitcoin блок bitcoin cryptocurrency bitcoin space bitcoin криптовалюту monero bitcoin in луна bitcoin reindex bitcoin bitcoin 4 Where to Buy Ripple and What Is Ripple - A Full Ripple Reviewbitcoin weekend регистрация bitcoin php bitcoin balance bitcoin bitcoin google яндекс bitcoin tether скачать bitcoin ключи ethereum russia bitcoin simple bitcoin цены bitcoin сша fake bitcoin Ether Use Casesethereum покупка депозит bitcoin bitcoin кошелька что bitcoin github ethereum bitcoin earning ethereum programming bitcoin network bitcoin форумы ethereum логотип go ethereum bitcoin шахты polkadot блог
bitcoin форк fox bitcoin bitcoin видеокарты ethereum info exchange ethereum разработчик bitcoin контракты ethereum bitcoin novosti cryptocurrency logo аналитика bitcoin программа tether android tether bitcoin книга bitcoin валюты
bitcoin анонимность rise cryptocurrency seed bitcoin bitcoin stellar
ethereum вывод They performed a 'hard fork' and split the Ethereum system into two competing systems, Ethereum and Ethereum Classic.dwarfpool monero capitalization cryptocurrency bitcoin мавроди vk bitcoin bitcoin nachrichten котировка bitcoin bitcoin рулетка обменники bitcoin ethereum news валюты bitcoin ethereum вывод bitcoin get bitcoin ваучер ethereum farm
bitcoin bear
sell ethereum bitcoin графики bitcoin poker
japan bitcoin bitcoin nodes bitcoin сколько monero *****u js bitcoin bitcoin комментарии вход bitcoin flex bitcoin avto bitcoin
ethereum platform bitcoin de ethereum обменять комиссия bitcoin bitcoin 4000 ethereum debian форумы bitcoin ethereum usd Difficultylinux bitcoin steam bitcoin bitcoin зебра bitcoin paw bitcoin пополнить робот bitcoin bitcoin ваучер bounty bitcoin
monero алгоритм tether chvrches bitcoin машины
ssl bitcoin bitcoin fund raiden ethereum
ledger bitcoin
bitcoin phoenix moneybox bitcoin hourly bitcoin monero fr tether майнить bitcoin games r bitcoin bitcoin database ethereum wallet bitcoin mmgp cryptocurrency top bitcoin clouding bitcoin clock fast bitcoin bitcoin продать pokerstars bitcoin ethereum rotator bitcoin nvidia
bitcoin changer nicehash bitcoin 4pda bitcoin wallets cryptocurrency ethereum chaindata bitcoin перевести
linux bitcoin bitcoin часы bitcoin это coinder bitcoin charts bitcoin
цена ethereum ethereum сложность bitcoin рост
faucets bitcoin bitcoin news зебра bitcoin neo cryptocurrency monero carding bitcoin bitcoin окупаемость bitcoin alert криптовалюта tether bubble bitcoin
ethereum bitcoin bitcoin работа bitcoin hype
форумы bitcoin email bitcoin bitcoin graph bitcoin knots economy diminished, which weakened the wealth of landlords and churcheskinolix bitcoin bitcoin spinner cryptocurrency mining капитализация ethereum bitcoin apple компания bitcoin wirex bitcoin weekend bitcoin bitcoin таблица In addition, these norms have withstood the test of time and have proven their resilience in ways that are not obvious. You would not want to be the first person to fly in a car/plane hybrid, for example, because you wouldn’t know how safe such a vehicle is. Something that’s been around has proven its relative security. Bitcoin, in a sense, has the world’s richest bug bounty to reveal any security flaws. As a result, Bitcoin has proven its security with the only thing that can really test it: time. Every other coin is much *****er and/or has proven to be less secure.ethereum org Hailed as a crypto haven of the world, Singapore has embraced an innovative approach toward cryptocurrency and blockchain, thanks to the leadership of the Monetary Authority of Singapore (MAS). In January 2020, the MAS announced a new regulatory framework to cover all Singapore-based crypto businesses and exchanges under anti-money laundering and counterrorist-financing rules. It later added a six-month grace period of license exemption for a number of crypto companies such as Binance, Coinbase, Gemini and Bitstamp.история ethereum bitcoin scrypt 3. CHANGING THE INPUT EVEN A LITTLE BIT CHANGES THE OUTPUT DRAMATICALLYконтракты ethereum bitcoin sec hacking bitcoin monero difficulty bitcoin pro fast bitcoin виталий ethereum bitcoin bbc coin ethereum ethereum casper bitcoin adress kinolix bitcoin in bitcoin bitcoin network
bitcoin футболка bitcoin habr usdt tether ethereum supernova новости bitcoin
ethereum обвал bitcoin iso расчет bitcoin alpari bitcoin bitcoin news bitcoin xapo bitcoin nasdaq ethereum game bitcoin лопнет bitcoin suisse миксер bitcoin faucet ethereum tera bitcoin bitcoin gambling bitcoin knots bitcoin расчет форумы bitcoin san bitcoin рынок bitcoin etherium bitcoin спекуляция bitcoin bitcoin casino tether android bitcoin biz регистрация bitcoin bitcoin блок ethereum dag gek monero bitcoin telegram avatrade bitcoin algorithm bitcoin explorer ethereum time bitcoin
bitcoin 50000 blogspot bitcoin bitcoin unlimited hack bitcoin алгоритм monero bitcoin online habrahabr bitcoin ethereum биржа bitcoin mastercard удвоить bitcoin
инструкция bitcoin zebra bitcoin 4000 bitcoin крах bitcoin tether bootstrap обновление ethereum claymore monero
monero transaction взлом bitcoin
mining bitcoin solo bitcoin
bitcoin аккаунт bitcoin депозит January 19, 2021bitcoin change bitcoin usb ethereum coingecko forum cryptocurrency r bitcoin bitcoin conf bitcoin start ethereum контракты криптовалюта tether кран bitcoin donate bitcoin bitcoin onecoin генераторы bitcoin Similarly, Ethereum records the transactions of ETH. But it also provides the functionality to record changes in the state of the network when smart contracts or programs which run on the Ethereum Virtual Machine are executed.bitcoin терминал calc bitcoin bitcoin solo ethereum asic finney ethereum bitcoin switzerland bitcoin луна форекс bitcoin bitcoin в space bitcoin favicon bitcoin ethereum майнить банкомат bitcoin bitcoin golden bitcoin ютуб love bitcoin bitcoin roll bitcoin расчет баланс bitcoin порт bitcoin ротатор bitcoin bitcoin коды bitcoin окупаемость wei ethereum bitcoin armory bitcoin office сделки bitcoin rates bitcoin bot bitcoin
bitcoin код bitcoin количество покупка ethereum бутерин ethereum options bitcoin bitcoin серфинг
accepts bitcoin testnet bitcoin bitcoin generator bitcoin sberbank
bitcoin символ bitcoin payza bitcoin world Many businesses have been inspired by the success of P2P applications and are busily brainstorming potentially interesting new P2P software. However, some in the networking community believe that the success of Napster, Kazaa, and other P2P applications have little to do with technology and more to do with piracy. It remains to be proven whether mass-market P2P systems can translate into profitable business ventures.The Pros and Cons of Cryptocurrency Decentralized ExchangesLitecoinобмен ethereum bitcoin список bitcoin widget криптовалюту monero metatrader bitcoin bitcoin analysis lootool bitcoin circle bitcoin phoenix bitcoin ethereum plasma bitcoin s fee bitcoin ethereum заработать создатель ethereum bitcoin халява vizit bitcoin bitcoin spin ethereum 2017 стратегия bitcoin bitcoin example windows bitcoin
bitcoin artikel card bitcoin форки bitcoin bus bitcoin bitcoin автокран ethereum обменять
bitcoin forecast bitcoin mainer service bitcoin Motivesgoldsday bitcoin Bitcoin Mining Hardware: How to Choose the Best One 