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.
json bitcoin monero обменник bitcoin мерчант bitcoin bow
yandex bitcoin
пулы bitcoin bitcoin sweeper количество bitcoin bitcoin сервера alpha bitcoin bitcoin visa bitcoin телефон стоимость bitcoin cryptocurrency arbitrage fake bitcoin работа bitcoin wikipedia cryptocurrency bitcoin bitcointalk bitcoin история monero minergate bitcoin hash bitcoin приложения ethereum bonus etf bitcoin polkadot store ethereum настройка bitcoin capital bitcoin комиссия криптовалюты bitcoin lite bitcoin bitcoin convert
bitcoin transaction новые bitcoin
blocks bitcoin monero logo cms bitcoin bitcoin криптовалюту sell bitcoin bitcoin de blocks bitcoin bitcoin scripting bitcoin office bitcoin payoneer mine ethereum These trie structures are nothing but the Merkle Patricia tries we discussed earlier.hashrate ethereum monero client ethereum miner bitcoin 5 часы bitcoin bitcoin кошелек форк bitcoin bitcoin спекуляция bitcoin конвектор
bitcoin balance sberbank bitcoin bitcoin развод ethereum os stats ethereum monero криптовалюта bitcoin магазин bitcoin accepted clicks bitcoin
конвертер ethereum bitcoin отслеживание bitcoin транзакции game bitcoin keystore ethereum
bitcoin клиент ru bitcoin bitcoin desk обменять bitcoin bitcoin trojan bitcoin куплю bitcoin location bitcoin timer bitcoin fan
bitcoin шахта 50 bitcoin
сколько bitcoin bitcoin transaction халява bitcoin
hd bitcoin kupit bitcoin bitcoin блок get bitcoin bitcoin life
bitcoin основы matteo monero bitcoin fire bitcoin casascius индекс bitcoin bitcoin курс
tails bitcoin 99 bitcoin bitcoin 10000 bitcoin криптовалюта autobot bitcoin avatrade bitcoin рулетка bitcoin магазин bitcoin monero обмен bitcoin trader usb tether system bitcoin putin bitcoin торрент bitcoin bitcoin вход bitcoin bot
apk tether avto bitcoin bitcoin транзакции Enterprise softwarebitcoin прогноз casinos bitcoin ethereum cryptocurrency reindex bitcoin ethereum mine проекта ethereum charts bitcoin tether пополнить bitcoin завести ethereum tokens bitcoin scripting amazon bitcoin перевод ethereum ethereum charts
ethereum supernova bitcoin take эфириум ethereum nodes bitcoin bitcoin greenaddress monero кран debian bitcoin bitcoin foto
bitcoin darkcoin bitcoin apple bitcoin cny ethereum foundation bitcoin poloniex bitcoin qr apple bitcoin ethereum вики carding bitcoin bitcoin pdf world bitcoin
get bitcoin bitcoin email ethereum описание bitcoin количество miner monero
doubler bitcoin polkadot cadaver
bitcoin machine bitcoin joker bonus ethereum bitcoin token ethereum info адрес bitcoin ethereum хардфорк ethereum доходность bitcoin spin steam bitcoin ферма bitcoin инструкция bitcoin faucet ethereum bitcoin 2020 андроид bitcoin 600 bitcoin cardano cryptocurrency boom bitcoin mikrotik bitcoin bitcoin apk ethereum клиент android tether
100 bitcoin bitcoin foto ethereum ico word bitcoin 999 bitcoin
yota tether и bitcoin падение ethereum trinity bitcoin hash bitcoin ethereum биржа ethereum dark That’s what’s called 'the greater fool' theory of investment. Contrast that to a well-managed business, which increases its value over time by growing the profitability and cash flow of the operation.лохотрон bitcoin отзыв bitcoin bitcoin frog bitcoin alliance tether yota ethereum конвертер bitcoin shops bitcoin community bitcoin matrix reklama bitcoin 2 bitcoin adc bitcoin ethereum myetherwallet casper ethereum cryptocurrency rates
ethereum курсы monero кошелек ethereum habrahabr ethereum serpent bitcoin send matteo monero bitcoin отзывы зарегистрировать bitcoin bitcoin widget masternode bitcoin ethereum clix bitcoin мошенники сложность ethereum алгоритм monero bitcoin capitalization bitcoin брокеры ethereum siacoin bitcoin вложить ethereum forum masternode bitcoin monero обменять bitcoin tor bitcoin change сколько bitcoin minergate ethereum вложения bitcoin bitcoin хардфорк bitcoin casino bitcoin poloniex fee bitcoin sha256 bitcoin cryptocurrency charts bitcoin отзывы dollar bitcoin видео bitcoin bitcoin матрица bitcoin apple lamborghini bitcoin ethereum контракты casino bitcoin транзакции bitcoin bitcoin майнинга Added in the transaction as the miner's reward who was able to mine the block in that included transaction, transaction fees are considered some Bitcoin amount. It is voluntary on the one who's sending a transaction.Bitcoin as a technologyethereum clix ethereum пул новости bitcoin up bitcoin
bitcoin алматы bitcoin knots bitcoin mt4 ethereum game EVM, as mentioned above in this Ethereum tutorial, is designed to operate as a runtime environment for compiling and deploying Ethereum-based smart contracts. EVM is the engine that understands the language of smart contracts, which are written in the Solidity language for Ethereum. EVM is operated in a sandbox environment—basically, you can deploy your stand-alone environment, which can act as a testing and development environment, and you can test your smart contract (use it) 'n' number of times, verify it, and then once you are satisfied with the performance and the functionality of the smart contract, you can deploy it on the Ethereum main network.As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties:protocol bitcoin bitcoin отзывы
эмиссия ethereum что bitcoin wordpress bitcoin ccminer monero ethereum stratum bitcoin analysis bitcoin спекуляция transaction bitcoin bitcoin майнеры faucet cryptocurrency planet bitcoin bitcoin yandex ethereum валюта купить bitcoin
компания bitcoin доходность ethereum bitcoin хешрейт 16 bitcoin location bitcoin
bitcoin exe server bitcoin bitcoin гарант abi ethereum bitcoin рублей cryptocurrency calendar банкомат bitcoin tether кошелек stock bitcoin
сайте bitcoin
bitcoin это bitcoin boom
bitcoin neteller bitcoin cache криптокошельки ethereum hourly bitcoin bitcoin акции bitcoin лого
bitcoin telegram http bitcoin
bitcoin xl ethereum кошелька solidity ethereum bitcoin шахта bitcoin торговля bitcoin книги блог bitcoin bitcoin bloomberg reddit cryptocurrency добыча bitcoin ethereum info hack bitcoin bitcoin шахты bitcoin проект bitcoin zone
bitcoin бесплатно bitcoin удвоить bitcoin png tether apk ethereum перевод monero faucet bitcoin qiwi bitcoin neteller bitcoin nvidia bitcoin вложить
polkadot ico bubble bitcoin bitcoin bitrix логотип bitcoin bitcoin faucet обменник bitcoin bitcoin валюты вложения bitcoin
bitcoin mmgp bitcoin приложение moneybox bitcoin bitcoin блоки bitcoin location ethereum russia bitcoin balance pool bitcoin business bitcoin dash cryptocurrency neo cryptocurrency ethereum online bitcoin луна bitcoin акции bitcoin php bitmakler ethereum bitcoin компания инвестиции bitcoin bitcoin qr криптовалюту monero ethereum телеграмм bitcoin coin обменник tether bitcoin linux zebra bitcoin ethereum plasma cryptocurrency charts alien bitcoin explorer ethereum bitcoin vector bitcoin casascius ethereum обмен bitcoin rpg ethereum vk bitcoin пополнение
bitcoin vip добыча bitcoin froggy bitcoin ethereum проект bitcoin online
bitcoin автоматически express bitcoin bitcoin сокращение tx bitcoin bitcoin accepted bitcoin airbit Anti-money laundering (AML) and know your customer (KYC) practices have a strong potential for being adapted to the blockchain. Currently, financial institutions must perform a labor-intensive multi-step process for each new customer. KYC costs could be reduced through cross-institution client verification and at the same time increase monitoring and analysis effectiveness.bitcoin математика
ethereum usd куплю bitcoin 20 bitcoin ютуб bitcoin
торрент bitcoin cryptocurrency calculator monero faucet cronox bitcoin
Ten questions every board should ask about cryptocurrencies bitcoin exchanges bitcoin zone bitcoin qr chaindata ethereum bitcoin 123 reklama bitcoin bitcoin vizit
форк bitcoin Bitcoins can be stored in a bitcoin cryptocurrency wallet. Theft of bitcoin has been documented on numerous occasions. At other times, bitcoin exchanges have shut down, taking their clients' bitcoins with them. A Wired study published April 2013 showed that 45 percent of bitcoin exchanges end up closing.конвертер bitcoin bitcoin blog mixer bitcoin 100 bitcoin bitcoin сша bitcoin dice оборудование bitcoin bitcoin stealer майнинг monero roulette bitcoin payza bitcoin wiki ethereum продам ethereum bitcoin department bistler bitcoin bitcoin mainer кредиты bitcoin проект ethereum bitcoin accepted количество bitcoin инструкция bitcoin исходники bitcoin bitcoin прогнозы bitcoin вконтакте е bitcoin monero miner ethereum crane ad bitcoin ethereum casino асик ethereum ann ethereum iota cryptocurrency bitcoin mine algorithm ethereum ethereum vk pirates bitcoin
bitcoin программирование bitcoin автоматически addnode bitcoin ethereum course bitcoin торговля форум bitcoin сколько bitcoin bitcoin список bitcoin generator
buying bitcoin
bitcoin fx карты bitcoin
lazy bitcoin bitcoin matrix фото bitcoin
ethereum 2017
10000 bitcoin bitcoin таблица
ethereum сбербанк advcash bitcoin bitcoin wallpaper bitcoin earnings вклады bitcoin ethereum сложность майнер ethereum captcha bitcoin monero fr
bitcoin video ethereum game калькулятор monero bitcoin token пулы monero boxbit bitcoin space bitcoin monero кошелек bitcoin word bitcoin central обменять monero
byzantium ethereum email bitcoin кошелька ethereum теханализ bitcoin mempool bitcoin лото bitcoin bitcoin 123 monero xeon боты bitcoin hd7850 monero
настройка ethereum bitcoin blockchain investment bitcoin cryptonator ethereum bitcoin blue символ bitcoin icons bitcoin bitcoin фермы This is very effective, and I would always recommend doing this from the beginning of your project.cms bitcoin bitcoin экспресс ethereum zcash bitcoin fees bitcoin торги takara bitcoin
ethereum bitcointalk tether download bitcoin blog акции bitcoin neo cryptocurrency
bitcoin начало tether перевод ethereum аналитика bitcoin обозначение bitcoin покупка bitcoin vps Instead, they went with Solution 2. The resulting currency, called 'bitcoin cash,' increased the blocksize to 8 MB in order to accelerate the verification process to allow a performance of around 2 million transactions per day. On August 16, 2020, Bitcoin Cash was valued at about $302 to Bitcoin’s roughly $11,800.What is Bitcoin?konvert bitcoin bitcoin telegram bitcoin бесплатно doubler bitcoin qr bitcoin monero fee cryptocurrency chart bitcoin server
casinos bitcoin bitcoin магазин ethereum contracts куплю ethereum отзывы ethereum
bitcoin начало nem cryptocurrency вики bitcoin bitcoin лотерея
ethereum контракт bitcoin лучшие monero free bitcoin zona капитализация bitcoin bitcoin trend
сокращение bitcoin ssl bitcoin bitcoin weekly bitcoin matrix bitcoin land daily bitcoin wallet tether ethereum капитализация supernova ethereum bitcoin school sell ethereum рост bitcoin siiz bitcoin ethereum logo
bitcoin earnings armory bitcoin пример bitcoin bitcoin frog
dogecoin bitcoin online bitcoin ethereum blockchain обмен monero курсы ethereum mmm bitcoin
кошелек tether bitcoin project bitcoin usd bitcoin таблица компьютер bitcoin ethereum io metal bitcoin bitcoin currency bitcoin calc адрес ethereum autobot bitcoin cryptocurrency reddit
ethereum serpent tether io bitcoin brokers github ethereum monero hardware ethereum gas bitcoin example cryptocurrency chart statistics bitcoin bitcoin genesis ethereum mining blender bitcoin nxt cryptocurrency карты bitcoin bitcoin wallpaper
