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 деньги bitcoin center erc20 ethereum bitcoin картинки bitcoin demo bitcoin school market bitcoin пополнить bitcoin капитализация bitcoin green bitcoin bitcoin legal казино ethereum bitcoin script bitcoin команды tether исходники bitcoin We looked at more than a dozen Bitcoin wallets all over the world and decided on the top hot and cold wallets based on factors such as security, costs, and customer reviews. Security is obviously a big consideration, so it’s important to use a wallet that is well used and has plenty of security protocols in place. It’s also important to choose a wallet that works well with some of the larger exchanges so that you can quickly complete transactions in the open market. ethereum supernova bitcoin circle microsoft ethereum ethereum хардфорк multi bitcoin cryptocurrency wallets кошельки bitcoin bitcoin куплю bitcoin yandex
gadget bitcoin
bitcoin оплатить bitcoin base bcc bitcoin bitcoin plus ethereum metropolis monero proxy
ethereum farm bitcoin playstation enterprise ethereum bitcoin mmm
bitcoin investing
bitcoin скрипт ethereum обменять red bitcoin bitcoin онлайн ethereum dag сша bitcoin *****uminer monero кошельки ethereum zcash bitcoin cryptocurrency tech ethereum википедия tether верификация bitcoin переводчик сервисы bitcoin bitcoin отследить приложение bitcoin bitcoin charts key bitcoin контракты ethereum
ethereum online bitcoin analysis
система bitcoin иконка bitcoin tether usb bank bitcoin machine bitcoin asics bitcoin faucet cryptocurrency market bitcoin bitcoin delphi ethereum github ethereum github bitcoin testnet обменник tether ethereum игра tether курс pokerstars bitcoin bitcoin book master bitcoin anomayzer bitcoin pps bitcoin эмиссия bitcoin ethereum кошелек теханализ bitcoin win bitcoin auction bitcoin
прогнозы ethereum monero gui bitcoin store bitcoin node faucets bitcoin bitcoin это bcn bitcoin криптовалюты ethereum bitcoin ваучер bitcoin dice ethereum прогнозы auto bitcoin registration bitcoin халява bitcoin hardware bitcoin people bitcoin hub bitcoin monero freebsd monero amd bitcoin cli ethereum markets ethereum токены
wifi tether bitcoin конвертер покупка bitcoin programming bitcoin bitcoin китай bitcoin stock майнить bitcoin пулы bitcoin bitcoin doge monero price bitcoin рубли bitcoin уязвимости tether валюта bitcoin symbol 1080 ethereum bitcoin xt mmm bitcoin приложения bitcoin bitcoin usd captcha bitcoin
bitcoin проблемы golang bitcoin bitcoin инструкция
bye bitcoin magic bitcoin avto bitcoin bitcoin lurk развод bitcoin bitcoin mmgp генераторы bitcoin ethereum купить bitcoin fox In Ethereum, the transaction fees are calculated using a formula (see screenshot below). For every transaction, there is gas and its correlated gas price. The amount of gas required to execute a transaction multiplied by the gas price equals the transaction fees. 'Gas limit' refers to the amount of gas used for the computation and the amount of ether a user is required to pay for the gas.развод bitcoin loans bitcoin bitcoin grant youtube bitcoin poloniex bitcoin bitcoin кошельки testnet ethereum bitcoin investment bitcoin nodes bitcoin swiss bitcoin часы bitcoin advcash chvrches tether bitcoin халява mooning bitcoin bitcoin currency bitcoin 0 erc20 ethereum
часы bitcoin
bitcoin расшифровка usb bitcoin обменник ethereum monero 1070 доходность ethereum cryptocurrency statistics bitcoin генератор bitcoin сервисы bitcoin пулы monero finney ethereum keystore ethereum sha256 bitcoin обменники ethereum sell ethereum ethereum эфириум фермы bitcoin monero amd bitcoin elena
логотип ethereum ethereum myetherwallet simple bitcoin ethereum биржа шрифт bitcoin продаю bitcoin bitcoin core search bitcoin planet bitcoin bitcoin брокеры free bitcoin ethereum алгоритм kurs bitcoin ethereum pow bitcoin news bitcoin 1070 bitcoin 0 bitcoin etherium
bitcoin bloomberg bitcoin конец coinbase ethereum bitcoin кошелек se*****256k1 ethereum bitcoin ocean
куплю bitcoin
bitcoin новости ethereum обменники bitcoin official настройка ethereum
транзакции bitcoin parity ethereum терминалы bitcoin
bitcoin 20 особенности ethereum datadir bitcoin tor bitcoin bitcoin ключи game bitcoin transaction bitcoin polkadot сложность ethereum bitcoin loto
bitcoin super Cons of Using a Decentralized Exchange:ethereum dag You want to mine Monero to make profits, right?japan bitcoin отзывы ethereum block bitcoin bitcoin 123
bitcoin 123 monero кошелек bitcoin paper bitcointalk monero
boom bitcoin
bitcoin вывести bitcoin 0 продам bitcoin ethereum вики registration bitcoin 1 monero bitcoin status bitcoin mac bitcoin портал film bitcoin
0 bitcoin bitcoin sweeper mmm bitcoin bitcoin rotator bitcoin сети bitcoin краны monero новости bitcoin удвоитель bitcoin alliance bitcoin client форум bitcoin обменник bitcoin ethereum calc bitcoin etf ann ethereum проекта ethereum bitcoin now
wallet tether вклады bitcoin bitcoin legal bitcoin nachrichten
jax bitcoin bitcoin talk ethereum news алгоритм ethereum ethereum solidity биржа ethereum bitmakler ethereum mmgp bitcoin ethereum телеграмм
ethereum телеграмм bitcoin wsj tether транскрипция bitcoin masters lootool bitcoin
msigna bitcoin bitcoin ira bitcoin lion биржи monero bitcoin путин bitcoin lite bitcoin china сокращение bitcoin all cryptocurrency bitcoin майнер bitcoin конвертер ava bitcoin заработать bitcoin bazar bitcoin bitcoin x2 bitcoin hunter bitcoin ann bitcoin кошелек half bitcoin bitcoin group ethereum price bitcoin комиссия monero pro ферма ethereum uk bitcoin
портал bitcoin bitcoin валюты ethereum 1070 bitcoin escrow майн ethereum Three examples of popular decentralized cryptocurrency exchanges are BitShares, Altcoin Exhange, and Ethfinex.ethereum markets bitcoin прогноз е bitcoin ethereum картинки exchange cryptocurrency purse bitcoin 1080 ethereum
bitcoin landing bitcoin автоматически prune bitcoin обмен monero json bitcoin 99 bitcoin bitcoin пирамиды unconfirmed monero bitcoin обмена bitcoin форки wmz bitcoin майнеры monero продам ethereum ethereum io
bitcoin aliexpress бот bitcoin bitcoin вывод
bitcoin china bitcoin china bitcoin darkcoin fox bitcoin bitcoin hourly bitcoin приложения ethereum виталий ethereum история fields bitcoin In my article on precious metals, I described how there are numerous ways to determine an approximate value for gold and silver, even though they don’t produce cash.ethereum майнер фермы bitcoin bitcoin play bitcoin гарант bitcoin seed bitcoin status bitcoin elena ethereum хешрейт foto bitcoin биржи monero
blocks bitcoin bitcoin pool bitcoin будущее
reindex bitcoin ethereum game forecast bitcoin bitcoin metatrader
lurkmore bitcoin security bitcoin masternode bitcoin convert bitcoin nicehash monero
ethereum обмен make bitcoin alpari bitcoin bitcoin usd bitcoin расчет price bitcoin
bitcoin eu tether wifi 4000 bitcoin buy ethereum digi bitcoin bitcoin вклады инвестиции bitcoin bitcoin проверка yandex bitcoin дешевеет bitcoin
добыча bitcoin icons bitcoin bitcoin продам bitcoin майнить bitcoin flex ethereum вики кошель bitcoin ethereum платформа bitcoin котировка bitcoin expanse love bitcoin cryptocurrency dash
bitcoin weekly bitcoin today bitcoin node курс tether ethereum видеокарты maining bitcoin ethereum node bitcoin unlimited
bitcoin youtube bitcoin рулетка keystore ethereum
bitcoin приложение ethereum crane инструкция bitcoin eos cryptocurrency bitcoin uk bitcoin it keystore ethereum elysium bitcoin
monero hardware bitcoin tx bitcoin биткоин trezor bitcoin keys bitcoin ethereum ann bitcoin xt monero пулы форумы bitcoin
bitcoin vip bitcoin фермы ethereum claymore bitcoin maps bitcoin онлайн ethereum bitcointalk компьютер bitcoin проекта ethereum cryptocurrency wikipedia dwarfpool monero bitcoin txid bitcoin genesis avto bitcoin bitcoin вики bitcoin лучшие tether wallet kupit bitcoin bubble bitcoin bitcoin eobot express bitcoin bitcoin mining
партнерка bitcoin bitcoin group cryptocurrency gold bitcoin wmx
bitcoin надежность
транзакции ethereum обналичить bitcoin jaxx bitcoin продам ethereum обналичить bitcoin cryptocurrency bitcoin дешевеет график bitcoin bitcoin коллектор bitcoin purse bitcoin майнить работа bitcoin nonce bitcoin доходность bitcoin ethereum вывод картинки bitcoin bitcoin planet
cryptocurrency mining ethereum метрополис
кошелька bitcoin bitcoin habr mine ethereum bitcoin reward testnet bitcoin ethereum chaindata bitcoin knots работа bitcoin bitcoin mt5 bitcoin system tether chvrches mail bitcoin bitcoin wordpress bitcoin конец bitcoin addnode 3d bitcoin bitcoin автоматический bitcoin metal сложность monero bitcoin валюта bitcoin flapper dollar bitcoin bitcoin darkcoin пицца bitcoin bitcoin qt bitcoin 4096 новые bitcoin
bitcoin графики minergate bitcoin bitcoin конвертер cryptocurrency charts фермы bitcoin monero gui падение ethereum gift bitcoin hashrate bitcoin
bitcoin vizit bitcoin org блок bitcoin bitcoin express
bitcoin 4000 bitcoin скрипт кошельки bitcoin amazon bitcoin
segwit bitcoin цены bitcoin ethereum linux bitcoin бесплатные bitcoin monkey куплю ethereum работа bitcoin ethereum chart bitcoin sha256 кредиты bitcoin
платформы ethereum android tether bitcoin valet ethereum charts playstation bitcoin bitcoin wordpress bitcoin доходность ethereum io bitcoin миллионеры rx560 monero topfan bitcoin эфир bitcoin ethereum логотип bitcoin инструкция bitcoin future Past, present, and future of ASIC manufacturingbitcoin banking koshelek bitcoin bitcoin png
bitcoin фирмы bitcoin анимация bitcoin betting bootstrap tether
bitcoin de bitcoin лотерея ethereum пул exchange ethereum ledger bitcoin bitcoin clicks bitcoin спекуляция заработок ethereum exchanges bitcoin ethereum форум
kurs bitcoin
bitcoin sportsbook trezor ethereum создатель ethereum hack bitcoin mooning bitcoin bitcoin mining ethereum faucet stealer bitcoin bitcoin обменник bitcoin даром bitcoin knots bitcoin картинки monero майнить
okpay bitcoin 2 bitcoin bitcoin работать ethereum forum проверка bitcoin nonce bitcoin usd bitcoin ethereum сбербанк ethereum покупка supernova ethereum bitcoin investment bitcoin okpay бонусы bitcoin ethereum хешрейт bitrix bitcoin accepts bitcoin bitcoin lion расширение bitcoin bitcoin анонимность bitcoin metal bitcoin anonymous bitcoin курс пулы bitcoin
billionaire bitcoin bittrex bitcoin куплю bitcoin
bitcoin котировки ethereum contracts
bitcoin hosting bitcoin генератор earn bitcoin bitcoin net genesis bitcoin bitcoin s wallets cryptocurrency рейтинг bitcoin проект ethereum bitcoin swiss utxo bitcoin bitcoin цены mindgate bitcoin пулы monero greenaddress bitcoin wordpress bitcoin attack bitcoin bitcoin биржа
bitcoin china explorer ethereum bitcoin machine
bitcoin yandex monero benchmark сложность ethereum bitcoin reindex смесители bitcoin bio bitcoin ethereum видеокарты store bitcoin bitcoin withdrawal bitcoin футболка bitcoin ставки bitcoin maps баланс bitcoin fpga ethereum bitcoin forbes
polkadot ico яндекс bitcoin кликер bitcoin click bitcoin bitcoin club bitcoin playstation bitcoin будущее cryptocurrency market the ethereum polkadot смесители bitcoin exchange cryptocurrency bitcoin up antminer bitcoin transactions bitcoin логотип bitcoin built upon assumptions about future consumption and future availability ofbitcoin код кран bitcoin android tether Hash:Did you know?registration bitcoin registration bitcoin bitcoin презентация daemon monero альпари bitcoin importprivkey bitcoin Consensus failures can destroy the whole system by causing loss of confidence in its reliability.bitcoin markets курс bitcoin is bitcoin bitcoin комбайн заработок ethereum отзыв bitcoin create bitcoin parity ethereum planet bitcoin usdt tether
стоимость bitcoin ethereum miners bitcoin withdrawal bitcoin wm bitcoin king monero hardware monero gui отзыв bitcoin bitcoin вложить удвоитель bitcoin ico ethereum
monero кран
bitcoin win payoneer bitcoin nodes bitcoin эфир bitcoin bitcoin tools get bitcoin iota cryptocurrency siiz bitcoin decred cryptocurrency конференция bitcoin casascius bitcoin
вложить bitcoin ethereum статистика приложения bitcoin parity ethereum wmz bitcoin bitcoin apple
bitcoin btc raiden ethereum bitcoin alien bitcoin иконка casino bitcoin bitcoin prosto bitcoin generation bitcoin best ethereum chart Moneroзайм bitcoin токен ethereum ethereum рост bot bitcoin bitcoin fan
мавроди bitcoin cryptocurrency tech Note: Users trying to solve the puzzle are called miners.tether addon cms bitcoin This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)Blockchain is the technology on which bitcoin, and all cryptocurrencies, run. It is the means that is used to record bitcoin transactions, and it is for this reason that banks and financial institutions fear the new technology.сбор bitcoin bitcoin скрипт количество bitcoin bitcoin jp bitcoin fund pps bitcoin ethereum кошельки
bitfenix bitcoin blockstream bitcoin prune bitcoin оплатить bitcoin запуск bitcoin ico monero bitcoin capitalization tether 2 xronos cryptocurrency платформа bitcoin monero новости ethereum charts ETH will become even more important with staking. When you stake your ETH you'll be able to help secure Ethereum and earn rewards. In this system, the threat of losing your ETH disincentivises attacks.maining bitcoin bitcoin android dogecoin bitcoin bitcoin work bitcoin смесители bitcoin фирмы платформ ethereum ethereum покупка bitcoin rate bitcoin world ethereum покупка Each ommer block within the block header must be a valid header and be within the sixth generation of the present block.usd bitcoin mercado bitcoin bitcoin кредит ethereum проекты monero gpu The Lightning Network is a 'layer-two' network that sits on top of the Bitcoin blockchain. It allows transactions to be processed off-chain quickly and economically, thus enabling Bitcoin scalability.ethereum node bitcoin cgminer bitcoin gadget cryptocurrency tech sec bitcoin icons bitcoin
hashrate bitcoin
bitcoin keywords all bitcoin roulette bitcoin криптовалюту monero ethereum 4pda hyip bitcoin bitcoin easy mt4 bitcoin birds bitcoin bitcoin download bitcoin клиент bitcoin 2048 bitcoin торговать
hacking bitcoin bitcoin авито bitcoin обменник
bitcoin mempool доходность ethereum credit bitcoin miner monero проекта ethereum ethereum продать
ethereum mine bitcoin акции bitcoin tor bitcoin бумажник cryptocurrency calculator андроид bitcoin казино bitcoin frontier ethereum значок bitcoin ethereum network майнеры monero bitcoin mine бесплатные bitcoin Ethereum uses smart contracts. You can use smart contacts for many more things than you can use Bitcoin for.ферма bitcoin car bitcoin
