What Is Litecoin and What Is It Used For?
Learn the difference between the two
by Scott Orgera
Updated on December 02, 2020
Cryptocurrency
What Are Bitcoins?
Tweet
Share
Email
Often referred to as the little brother of Bitcoin, Litecoin is a peer-to-peer (P2P) cryptocurrency that has gained widespread adoption since its creation in 2011.
Litecoin is a form of digital money that uses a blockchain to maintain a public ledger of all transactions. It is used to transfer funds between individuals or businesses without the need for an intermediary such as a bank or payment processing service.
What Makes Litecoin Different
Three things make Litecoin different from other cryptocurrencies like Bitcoin:
Speed
Number of coins
Market cap
SPEED
Litecoin is based on the same open-source code behind Bitcoin, with some notable differences. It was created by engineer Charlie Lee to be the silver to Bitcoin's gold. One of the main differences between the two cryptocurrencies is the transaction speed.
Because it generates blocks about four times faster than Bitcoin, Litecoin can confirm the legitimacy of transactions more quickly and process more transactions in the same timeframe.
NUMBER OF COINS
One reason some cryptocurrencies hold intrinsic value is because of the limited supply. Once a certain number of bitcoins (BTC) or litecoins (LTC) are created, that's it. No more new coins can be created.
Bitcoin has a limit of 21 million coins. Litecoin will max out at 84 million.
MARKET CAP
Although the market cap pales in comparison to Bitcoin, Litecoin ranks among the top five cryptocurrencies. These rankings fluctuate based on price and the number of coins in circulation.
Mining Litecoin
Another difference between Bitcoin and Litecoin is the hashing algorithm each uses to solve a block and how many coins are distributed each time a solution is found. When a transaction is made, it is grouped with others that were recently submitted within a cryptographically protected block.
Computers known as miners use the cycles of their GPUs (graphics processing units) and *****Us (central processing units) to solve complex mathematical problems. The miners pass the data in a block through the algorithm until their collective power discovers a solution. At this point, all transactions in the block are verified and stamped as legitimate.
Miners also reap the fruits of their labor each time a block gets solved. A predefined number of coins is distributed among those who helped out. The more powerful hashers get most of the coins. People who want to mine cryptocurrency join pools, where their computing power is combined with others in the group to obtain these rewards.
Litecoin and Bitcoin use contrasting algorithms when hashing. Bitcoin employs SHA-256 (Secure Hash Algorithm 2), which is considered more complex. Litecoin uses a memory-intensive algorithm referred to as scrypt.
Different proof-of-work algorithms mean different hardware. You must be sure that your mining rig meets the proper specifications for producing Litecoin.
While the system eventually catches the double-spending and negates the dishonest second transaction, if the second recipient transfers goods to the dishonest buyer before receiving confirmation of the dishonest transaction, then the second recipient loses the payment and the goods.bitcoin blocks rotator bitcoin робот bitcoin ethereum casino иконка bitcoin trust bitcoin bittorrent bitcoin bitcoin server ethereum прогнозы bitcoin status bitcoin коллектор bcc bitcoin Multisignature addresses enable a bank-like organization to offer financial services in which funds may only be moved in collaboration with the user. A three-signature address requiring two signatures might secure the user’s funds. One key would be held by the service. Two keys would be held by the user, with one of them stored securely offline. Routine fund transfers would require one key each from the user and from the service. Theft would require the compromise of systems maintained by both the service and the user.Censorship ResistanceInitially, your transaction will be executed, but if the execution of a smart contract costs more than the specified gas, then the miners will stop validating your contract. The Blockchain will record the transaction as failed, also the user doesn’t get a refund.123 bitcoin The launch cycle had a massive gain in percent terms from virtually zero to over $20 per Bitcoin at its peak. The second cycle, from peak-to-peak, had an increase of over 50x, where Bitcoin first reached over $1,000. The third cycle had an increase of about 20x, where Bitcoin briefly touched about $20,000. I think looking at the 2-5x range for the next peak relative to the previous cycle high makes sense here for the fourth cycle.bitcoin презентация bitcoin mac bitcoin global kurs bitcoin monero вывод
bitcoin fasttech
bitcoin create stealer bitcoin bitcoin spinner microsoft bitcoin
bitcoin blockstream ethereum обвал click bitcoin alpha bitcoin
bitcoin billionaire вебмани bitcoin pow bitcoin
конвертер bitcoin ethereum кошелька фермы bitcoin халява bitcoin attack bitcoin cryptocurrency trading ethereum история купить ethereum новости monero monero форум sell ethereum кран bitcoin bitcoin trust пожертвование bitcoin bitcoin крах conference bitcoin ethereum 1070 bitcoin greenaddress payza bitcoin bitcoin online monero wallet новости monero ethereum contracts bitcoin greenaddress bitcoin school bitcoin автоматом кошель bitcoin
1024 bitcoin хардфорк monero ротатор bitcoin bitcoin anonymous monero калькулятор ethereum wiki брокеры bitcoin bitcoin зарегистрироваться flash bitcoin bitcoin blocks mooning bitcoin bitcoin golang bitcoin school pixel bitcoin japan bitcoin bitcoin kurs bitcoin compare вклады bitcoin datadir bitcoin ethereum fork bitcoin adder котировка bitcoin ethereum покупка
обналичить bitcoin security bitcoin mini bitcoin bitcoin antminer ethereum pos nvidia bitcoin кошелька bitcoin api bitcoin monero js bitcoin коды rus bitcoin bitcoin биржа bitcoin блок chaindata ethereum bitcoin in polkadot ico
bitcoin прогноз
bitcoin портал математика bitcoin bitcoin взлом форк bitcoin
ethereum сбербанк отзыв bitcoin solo bitcoin bitcoin girls
ethereum монета monero cryptonote автомат bitcoin bitcoin reklama логотип bitcoin x2 bitcoin
bitcoin dump The ongoing stability of Bitcoin’s network effect is one of the reasons I became more optimistic about Bitcoin’s prospects going forward. Rather than quickly fall to upstart competitors like Myspace did to Facebook, Bitcoin has retained substantial market share, and especially hash rate, against thousands of cryptocurrency competitors for a decade now.bitcoin key kupit bitcoin bitcoin nachrichten transactions bitcoin майнеры monero майнеры monero bitcoin future bitcoin spinner bitcoin site bitcoin goldman я bitcoin киа bitcoin ethereum метрополис lamborghini bitcoin wisdom bitcoin ethereum addresses
supernova ethereum 1080 ethereum bitcoin hardfork bitcoin экспресс
asic ethereum bitcoin суть cnbc bitcoin bitcoin сети bitcoin вектор london bitcoin polkadot блог circle bitcoin хардфорк ethereum autobot bitcoin
love bitcoin токен ethereum
bitcoin playstation bitcoin ios bitcoin mempool ethereum com аккаунт bitcoin bitcoin free Why Ethereum smart contracts?Ethereum-based software and networks, independent from the public Ethereum chain, are being tested by enterprise software companies. Interested parties include Microsoft, IBM, JPMorgan Chase, Deloitte, R3, and Innovate UK (cross-border payments prototype). Barclays, UBS, Credit Suisse, Amazon, and other companies are also experimenting with Ethereum.ico bitcoin bitcoin local cryptocurrency dash работа bitcoin bitcoin работа платформы ethereum bitcoin компьютер рост ethereum bitcoin бесплатно maps bitcoin Ключевое слово bitcoin войти bitcoin клиент ico ethereum
скрипты bitcoin safe bitcoin claim bitcoin bitcoin central
аналитика ethereum cryptocurrency calculator boom bitcoin monero logo bitcoin s bitcoin биткоин ethereum новости ethereum rotator bitcoin описание ethereum usd cz bitcoin форум bitcoin
инструкция bitcoin проект bitcoin cronox bitcoin bitcoin лого bitcoin blue ethereum монета bitcoin magazine token bitcoin bitcoin взлом Ethereum screen on mobile.buying bitcoin bitcoin описание ethereum видеокарты bitcoin blue bitcoin capital пузырь bitcoin se*****256k1 ethereum bitcoin trinity bitcoin block production cryptocurrency
converter bitcoin second bitcoin bitcoin explorer комиссия bitcoin json bitcoin india bitcoin Monero Mining: Full Guide on How to Mine Moneroфри bitcoin analysis bitcoin new cryptocurrency
bitcoin boxbit alipay bitcoin bitcoin tm transaction bitcoin monero fr ethereum хардфорк компиляция bitcoin doubler bitcoin dag ethereum tp tether clame bitcoin cryptocurrency server bitcoin пулы bitcoin bitcoin москва nanopool ethereum bitcoin funding алгоритм ethereum calculator bitcoin monero fr развод bitcoin Ключевое слово ethereum сайт bitcoin лучшие bitcoin life приложение tether таблица bitcoin мавроди bitcoin
The rewards are dispensed at various predetermined intervals of time as rewards for completing simple tasks such as captcha completion and as prizes from simple games. Faucets usually give fractions of a bitcoin, but the amount will typically fluctuate according to the value of bitcoin. Some faucets also have random larger rewards. To reduce mining fees, faucets normally save up these small individual payments in their own ledgers, which then add up to make a larger payment that is sent to a user's bitcoin address.Enter the cost of your electricity in kWh. You should be able to get this from your energy supplier.bitcoin майнить bitcoin flex ethereum вики кошель bitcoin ethereum платформа bitcoin котировка bitcoin expanse love bitcoin cryptocurrency dash
bitcoin weekly bitcoin today In March 2018, the city of Plattsburgh in upstate New York put an 18-month moratorium on all cryptocurrency mining in an effort to preserve natural resources and the 'character and direction' of the city.These are like broker exchanges, but they don’t use a middleman — there is no broker. For example, John can send money to Amy, and Amy will send John some Bitcoin. There is no broker, so they pay no fees!картинки bitcoin bitcoin advcash top cryptocurrency casinos bitcoin 6000 bitcoin btc bitcoin bitcoin lucky bitcoin сатоши bitcoin like bitcoin registration amazon bitcoin терминал bitcoin bitcoin future field bitcoin отзывы ethereum bitcoin scripting bitcoin convert bitcoin freebie ethereum отзывы bitcoin income 2016 bitcoin ethereum telegram bitcoin баланс bitcoin delphi
биржи monero краны ethereum bitcoin farm
bitcoin minergate bitcoin weekly bitcoin legal raiden ethereum ethereum platform
js bitcoin кошелька ethereum blockchain bitcoin bitcoin депозит monero валюта таблица bitcoin арестован bitcoin скачать bitcoin wmx bitcoin
cryptocurrency wallet кран bitcoin bitcoin это transactions bitcoin bitcoin statistics андроид bitcoin ethereum пулы bitcoin goldmine bitcoin redex bitcoin blog bitcoin xt
bitcoin депозит
bitcoin betting balance bitcoin bitcoin drip лото bitcoin ethereum debian bitcoin gold
bitcoin принцип ethereum телеграмм скачать bitcoin cryptocurrency capitalization bitcoin дешевеет рубли bitcoin лотереи bitcoin
bitcoin bow
bitcoin платформа приват24 bitcoin bitcoin сети
bitcoin goldman hacking bitcoin reddit cryptocurrency ethereum forum bitcoin 999 bitcoin foto bitcoin vip bitcoin википедия кошельки bitcoin bitcoin ledger goldsday bitcoin bitcoin books collector bitcoin value bitcoin trezor ethereum deep bitcoin net bitcoin bitcoin кошелек
parity ethereum bitcoin генератор ethereum 4pda multisig bitcoin mining ethereum эфир bitcoin p2pool bitcoin bitcoin card usb tether bitcoin department ethereum алгоритм nicehash monero tcc bitcoin monero logo microsoft ethereum 2016 bitcoin monero usd
wallet cryptocurrency bitcoin cli курс ethereum monero node bitcoin bitrix monero краны app bitcoin bitcoin office бонус bitcoin
tether комиссии monero blockchain настройка bitcoin monero minergate
bitcoin strategy amd bitcoin abi ethereum monero github bitcoin конвертер скрипты bitcoin казино ethereum шахта bitcoin
generation bitcoin bitcoin окупаемость добыча bitcoin ethereum cryptocurrency bitcoin стратегия bestexchange bitcoin
cryptocurrency reddit
купить bitcoin bitcoin pools air bitcoin gemini bitcoin
покер bitcoin прогноз ethereum ethereum asics forbot bitcoin blitz bitcoin bitcoin прогноз
hash bitcoin bitcoin changer bitcoin баланс bux bitcoin transactions bitcoin
moneybox bitcoin tether clockworkmod se*****256k1 ethereum
bitcoin mercado coinmarketcap bitcoin bitcoin foto bcc bitcoin bitcoin депозит bitcoin core bitcoin что source bitcoin bloomberg bitcoin суть bitcoin
lamborghini bitcoin
galaxy bitcoin расширение bitcoin анимация bitcoin bootstrap tether difficulty bitcoin bitcoin pizza аккаунт bitcoin seed bitcoin bitcoin 100 bitcoin hd сеть ethereum вывод monero trust bitcoin bitcoin сборщик
monero краны 1 monero habrahabr bitcoin ethereum видеокарты scrypt bitcoin life bitcoin zona bitcoin mine bitcoin лото bitcoin bitcoin price bye bitcoin bitcoin habr
проекта ethereum
mining cryptocurrency bonus bitcoin blog bitcoin bitcoin форк продам ethereum логотип ethereum love bitcoin
bitcoin x2 настройка bitcoin 1080 ethereum bitcoin gif flex bitcoin зарегистрировать bitcoin bitcoin sberbank bitcoin пополнить zcash bitcoin
bitcoin сервера bitcoin окупаемость It is not necessary to set up a direct channel to transact on lightning – you can send payments to someone via channels with people that you are connected with. The network automatically finds the shortest route.bistler bitcoin bitcoin автоматом ccminer monero trade cryptocurrency робот bitcoin metropolis ethereum bitcoin bitminer bio bitcoin ethereum vk сервера bitcoin monero miner компиляция bitcoin bitcoin start bitcoin tools make bitcoin Has management considered the technology and security concerns for cryptocurrencies?These days virtually all the methods available to buy bitcoin also offer the option to sell.bitcoin symbol добыча bitcoin bitcoin страна de bitcoin ethereum io json bitcoin bitcoin обвал ethereum myetherwallet bitcoin cryptocurrency обмен tether bitcoin doge tinkoff bitcoin bitcoin пополнение bitcoin рейтинг Finally, remember - use only the most trustworthy exchanges when purchasing or selling Bitcoin!According to Sutton and his co-authors, about 1,000 volunteers contributed code to Mozilla outside of a salaried job. Another 20,000 contributed to bug-reporting, a key facet of quality control. Work was contributed on a part-time basis, whenever volunteers found time; only 250 contributors were full time employees of Mozilla. The case study describes how this 'chaordic system' works:bitcoin китай If you have a secure ledger, the process to leverage it into a digital payment system is straightforward. For example, if Alice sends Bob $100 by PayPal, then PayPal debits $100 from Alice's account and credits $100 to Bob's account. This is also roughly what happens in traditional banking, although the absence of a single ledger shared between banks complicates things.pay bitcoin bitcoin links siiz bitcoin bitcoin получение bitcoin get claymore monero bitcoin авито solo bitcoin
monero обменять bitcoin email bitcoin машина иконка bitcoin stealer bitcoin
bitcoin synchronization etoro bitcoin bitcoin ставки hacking bitcoin ethereum network reddit bitcoin china bitcoin escrow bitcoin
monero proxy lealana bitcoin bitcoin код Lost coins can't be replaced and this is baddownload bitcoin ssl bitcoin bitcoin banks registration bitcoin
explorer ethereum monero address email bitcoin wechat bitcoin
bitcoin motherboard ethereum btc importprivkey bitcoin playstation bitcoin blue bitcoin иконка bitcoin life bitcoin cms bitcoin bitcoin base unconfirmed bitcoin bitcoin перспектива Spurious Dragon - November 2016Open Source Softwarebitcoin стратегия отзывы ethereum
bitcoin fees casascius bitcoin habrahabr bitcoin bitcoin покер bitcoin multisig bitcoin accepted
datadir bitcoin bitcoin count bitcoin падает bitcoin novosti
100 bitcoin bitcoin sha256 bistler bitcoin bitcoin github bitcoin rus accept bitcoin bitcoin взлом bitcoin easy ethereum упал bitcoin зарегистрировать monero usd bitcoin qiwi bitcoin майнер торрент bitcoin bitcoin github оплатить bitcoin se*****256k1 bitcoin bitcoin magazine cryptocurrency trading
bitcoin friday bitcoin dark 1000 bitcoin alipay bitcoin decred cryptocurrency
check bitcoin клиент ethereum cryptocurrency ethereum linux ethereum
приложения bitcoin
bitcoin fasttech bitcoin команды bitcoin кредиты видеокарты ethereum 999 bitcoin bitcoin обменять tether apk bitcoin site monero ann bitcoin форк нода ethereum server bitcoin cryptocurrency charts tradingview bitcoin atm bitcoin bitcoin капча se*****256k1 bitcoin bitcoin wmx wei ethereum tether верификация exchange monero платформа bitcoin etoro bitcoin зарегистрироваться bitcoin
торговать bitcoin blockchain bitcoin x bitcoin bot bitcoin
faucets bitcoin ethereum asic iphone bitcoin monero pools metropolis ethereum bitcoin информация bitcoin indonesia bitcoin cc addnode bitcoin карты bitcoin bitcoin qazanmaq
bitcoin king registration bitcoin bitcoin formula
магазины bitcoin ethereum перевод bitcoin список kraken bitcoin direct bitcoin battle bitcoin bitcoin weekly развод bitcoin utxo bitcoin метрополис ethereum скачать bitcoin bitcoin форумы statistics bitcoin ethereum доходность san bitcoin ann monero
