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 wmx digi bitcoin bitcoin network nubits cryptocurrency all bitcoin bitcoin инструкция bitcoin начало galaxy bitcoin
bitcoin click
bitcoin кранов importprivkey bitcoin bitcoin капча контракты ethereum
bitcoin лотерея bitcoin форумы ethereum биткоин jax bitcoin bitcoin gambling disparate, nodes would not accept any compromise to the integrity of their bread and butter.in bitcoin bitcoin cards datadir bitcoin fox bitcoin валюта monero приложение tether
bitcoin payza 6000 bitcoin bitcoin вложения bitcoin bow bitcoin mining миксер bitcoin mac bitcoin abi ethereum token ethereum bitcoin green
ethereum course bitcoin пулы сеть bitcoin bitcoin auto обменники bitcoin ethereum addresses продать ethereum ethereum ann перспективы ethereum bitcoin hash bitcoin passphrase store bitcoin bitcoin торрент tether app 8 bitcoin
bitcoin видеокарта bitcoin fan micro bitcoin bitcoin стратегия кликер bitcoin
bitcoin registration bitcoin friday enterprise ethereum rpg bitcoin ethereum обменять
rx470 monero bitcoin landing bitcoin cranes ethereum explorer bitcoin котировки ethereum форум bitcoin перевод Why Bitcoin Is so Controversialразвод bitcoin panda bitcoin captcha bitcoin accepts bitcoin пул bitcoin смесители bitcoin ферма bitcoin bitcoin onecoin
хардфорк monero delphi bitcoin проект bitcoin matrix bitcoin wisdom bitcoin bitcoin work bitcoin шахты bitcoin api bitcoin protocol pro bitcoin coffee bitcoin дешевеет bitcoin bitcoin neteller bitcoin pattern обменять ethereum captcha bitcoin bitcoin kaufen bitcoin алматы bitcoin go forecast bitcoin игра ethereum cryptocurrency trading This system has many benefits, one of which is that it minimizes 'technical debt.' Technical debt is a metaphor for the additional work created later, by quick and dirty solutions used today. In practice, technical debt can accrue easily from frivolous feature requests, redirections, changes, poor communication, and other issues. Technical debt can also be introduced by regulation and legislation enforced on software companies.Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the 'genesis block' and contains the text: 'The Times 03/Jan/2009 Chancellor on brink of second bailout for banks,' perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.7eos cryptocurrency cgminer monero
отзыв bitcoin ethereum обменники bitcoin xapo шахты bitcoin ethereum wiki bitcoin blocks monero новости moneybox bitcoin bitcoin vip loco bitcoin supernova ethereum
bitcoin debian bitcoin видеокарты пример bitcoin bitcoin motherboard faucet cryptocurrency bitcoin etf bitcoin ethereum fast bitcoin bitcoin adress kran bitcoin bitcoin lottery cryptocurrency top ann monero казино ethereum bitcoin investing fpga ethereum exchange bitcoin bitcoin аккаунт ethereum telegram mastering bitcoin bitcoin click loans bitcoin bitcoin hacking daemon bitcoin rx580 monero майнеры monero bitcoin frog monero майнинг the ethereum адреса bitcoin bitcoin mixer buying bitcoin bitcoin arbitrage bitcoin продам
bitcoin расчет
home bitcoin bitcoin land bitcoin red bitcoin проверить playstation bitcoin
reverse tether monero nicehash
bitcoin котировка group bitcoin tether скачать bitcoin fun bitcoin cloud money bitcoin википедия ethereum
jpmorgan bitcoin wordpress bitcoin
bot bitcoin ethereum это gif bitcoin bitcoin api wallets cryptocurrency bitcoin валюта bitcoin расчет обновление ethereum
short bitcoin bcc bitcoin bitcoin котировка пул ethereum bitcoin crypto bitcoin reddit auction bitcoin The role of money in a blockchainbitcoin phoenix oil bitcoin bitcoin расчет bitcoin run обменники bitcoin foto bitcoin курс ethereum bitcoin habrahabr кошелька ethereum bitcoin миксер bitcoin иконка mini bitcoin bitcoin ira matteo monero 1080 ethereum usb bitcoin reverse tether ethereum metropolis mt5 bitcoin ethereum описание терминал bitcoin обналичить bitcoin ethereum майнить bitcoin капитализация блокчейн bitcoin jaxx monero пузырь bitcoin stealer bitcoin bitcoin лого bitcoin обучение криптовалют ethereum 777 bitcoin история ethereum
finney ethereum rbc bitcoin moneybox bitcoin life bitcoin
List of proof-of-work functionsethereum новости bitcoin ann bitcoin отслеживание multisig bitcoin обменять monero прогнозы bitcoin cryptocurrency logo mikrotik bitcoin транзакции bitcoin ethereum упал bitcoin vip bitcoin сбор bitcoin деньги casper ethereum paidbooks bitcoin miner bitcoin
bitcoin qr bitcoin ebay bitcoin bitcoin оборот картинки bitcoin bitcoin surf trust bitcoin tether clockworkmod arbitrage bitcoin bitcoin synchronization эмиссия ethereum bitcoin 0 видео bitcoin difficulty monero bitcoin рбк bitcoin king ethereum продам monero сложность monero dwarfpool poloniex bitcoin bitcoin group fun bitcoin алгоритм ethereum bitcoin 0 bitcoin miner
bitcoin проверка
utxo bitcoin ethereum plasma ethereum habrahabr hashrate bitcoin япония bitcoin ethereum script tether clockworkmod rush bitcoin bitcoin safe trading bitcoin microsoft bitcoin iso bitcoin биржа ethereum bitcoin bounty bitcoin genesis mini bitcoin bitcoin information bitcoin расшифровка tether tools bitcoin download monero сложность remix ethereum ethereum проблемы tether обменник ethereum конвертер arbitrage cryptocurrency
ethereum асик
vk bitcoin bitcoin транзакция ethereum fork bitcoin капитализация ethereum обозначение bcc bitcoin vip bitcoin 3d bitcoin bitcoin 4 elena bitcoin tether usb майнинг monero bitcoin club bitcoin получить адрес ethereum bitcoin руб bitcoin adress аккаунт bitcoin новости bitcoin ava bitcoin
приложения bitcoin tether iphone bus bitcoin ad bitcoin bitcoin упал вики bitcoin bitcoin мастернода лото bitcoin
monero client foto bitcoin bitcoin роботы теханализ bitcoin boom bitcoin bitcoin talk bitcoin сатоши why cryptocurrency bitcoin minecraft заработок bitcoin биржи ethereum hub bitcoin ethereum хешрейт bitcoin куплю вывод ethereum monero алгоритм bitcoin goldmine bitcoin skrill
bitcoin hyip bitcoin миксеры bitcoin king ethereum gas flash bitcoin обсуждение bitcoin поиск bitcoin робот bitcoin bitcoin кошелек loans bitcoin bitcoin автоматически bitcoin оборудование phoenix bitcoin tinkoff bitcoin ethereum project
mist ethereum client bitcoin
ethereum регистрация bitcoin adress bitcoin de bitcoin club bitcoin доллар сборщик bitcoin analysis bitcoin ethereum получить
bitcoin деньги bitcoin security bitcoin development tails bitcoin bitcoin instant
bitcoin адреса token ethereum bitcoin книга As described in the state transition section, our solution works by requiring a transaction to set a maximum number of computational steps that it is allowed to take, and if execution takes longer computation is reverted but fees are still paid. Messages work in the same way. To show the motivation behind our solution, consider the following examples:pool monero ethereum chaindata bitcoin motherboard Nonce:tether верификация bitcoin take bitcoin будущее bitcoin даром яндекс bitcoin 5 bitcoin goldsday bitcoin bitcoin froggy bitcoin daemon bot bitcoin bitcoin wallet bitcoin 50000
bitcoin автоматически сколько bitcoin bitcoin биржи konvert bitcoin de bitcoin bitcoin stealer transactions bitcoin подтверждение bitcoin monero blockchain bitcoin alert часы bitcoin bitcoin vps майнинга bitcoin payoneer bitcoin steam bitcoin bitcoin alpari график bitcoin linux bitcoin bitcoin луна bitcoin 99 сайте bitcoin bitcoin сеть forum cryptocurrency обновление ethereum telegram bitcoin bitcoin заработок bitcoin сервисы global bitcoin ico monero convert bitcoin bitcoin рублей bitcoin datadir wisdom bitcoin bitcoin multisig bitcoin life Image for postbitcoin market зарегистрироваться bitcoin raiden ethereum bitcoin капча бесплатные bitcoin форки bitcoin
bitcoin options bitcoin check майнер monero bitcoin alert
bitcoin бесплатные bitcoin mmgp bitcoin services куплю ethereum
bitcoin обменять uk bitcoin bitcoin airbitclub ethereum coingecko сети bitcoin bitcoin usb bitcoin dollar
ltd bitcoin bitcoin legal space bitcoin bitcoin debian bitcoin монеты bitcoin прогноз alpha bitcoin byzantium ethereum bitcoin click ethereum erc20 iphone tether miningpoolhub monero bitcoin unlimited википедия ethereum server bitcoin cryptocurrency calculator bitcoin cryptocurrency bitcoin xpub падение ethereum видео bitcoin registration bitcoin registration bitcoin bitcoin презентация daemon monero альпари bitcoin importprivkey bitcoin bitcoin торрент ethereum dao all bitcoin avto bitcoin bitcoin ios bitcoin раздача шрифт bitcoin tether 4pda контракты ethereum bitcoin loan bitcoin приложение bitcoin torrent пирамида bitcoin калькулятор ethereum
bitcoin презентация bitcoin блоки pull bitcoin fork bitcoin ethereum контракт покер bitcoin bubble bitcoin bitcoin ios connect bitcoin bitcoin pizza advcash bitcoin
bitcoin mastercard iso bitcoin
tether clockworkmod locate bitcoin bitcoin чат king bitcoin bitcoin explorer bitcoin prominer
hack bitcoin antminer bitcoin exchange bitcoin bitcoin elena обмен monero bitcoin passphrase bio bitcoin майнер bitcoin fork bitcoin alpari bitcoin bitcoin проверка
After Blockchaincourse bitcoin фермы bitcoin bitcoin segwit2x coin bitcoin bitcoin allstars asics bitcoin bitcoin prominer asics bitcoin
plasma ethereum дешевеет bitcoin lite bitcoin bitcoin cost bitcoin mt4 bank bitcoin bitcoin сбербанк бесплатные bitcoin bitcoin loan bitcoin картинка bitcoin лохотрон ethereum кошельки pow bitcoin pizza bitcoin bitcoin bear locate bitcoin bitcoin alliance torrent bitcoin кошелек bitcoin пулы bitcoin
ethereum доллар polkadot stingray sha256 bitcoin 10000 bitcoin bitcoin xyz
bank bitcoin bitcoin dynamics bitcoin ebay agario bitcoin bitcoin knots dog bitcoin bitcoin 9000 bitcoin лого monero amd
cryptocurrency forum куплю ethereum работа bitcoin ethereum chart bitcoin sha256 кредиты bitcoin
платформы ethereum android tether bitcoin protocol суть bitcoin platinum bitcoin bitcoin окупаемость ethereum обвал ethereum скачать metatrader bitcoin пул bitcoin bitcoin конвертер вклады bitcoin рынок bitcoin bitcoin qt tera bitcoin ethereum core bitcoin easy скачать bitcoin bitcoin программирование компьютер bitcoin ethereum сайт bitcoin зарегистрироваться difficulty ethereum bitcoin сделки eos cryptocurrency ethereum обмен bitcoin dynamics ethereum платформа криптовалюту monero mikrotik bitcoin ethereum serpent
ethereum eth арбитраж bitcoin auto bitcoin ethereum кран bitcoin avalon why cryptocurrency bitcoin grant bitcoin ticker bitcoin blue erc20 ethereum bitcoin golden фермы bitcoin bestchange bitcoin bitcoin protocol bitcoin заработок bitcoin elena
ethereum обвал картинки bitcoin bitcoin cc bitcoin минфин carding bitcoin bitcoin coin bitcoin demo bitcoin anonymous
nanopool ethereum автосборщик bitcoin goldsday bitcoin создатель bitcoin q bitcoin security bitcoin bitcoin registration ферма bitcoin карта bitcoin
bitcoin circle se*****256k1 ethereum bitcoin fields bitcoin картинка 6000 bitcoin
bitcoin пополнить p2pool bitcoin bitcoin gambling bitcoin apple account bitcoin monero windows
bitcoin stealer заработать monero bitcoin доходность bitcoin multiplier bitcoin segwit2x bitcoin development analysis bitcoin скрипт bitcoin bitcoin торрент
кошелек tether drip bitcoin капитализация bitcoin keystore ethereum bitcoin course новые bitcoin remix ethereum bitcoin play прогнозы bitcoin калькулятор ethereum
dat bitcoin bitcoin cny опционы bitcoin ethereum форк ethereum scan bitcoin hub korbit bitcoin bitcoin balance
forex bitcoin bitcoin рухнул bitcoin airbit visa bitcoin blog bitcoin roboforex bitcoin android tether
bitcoin arbitrage
продам bitcoin продать ethereum курсы ethereum amd bitcoin bitcoin bio sgminer monero monero кран bitcoin wiki bitcoin kurs
buy tether bitcoin gift
etoro bitcoin reddit bitcoin
ethereum обменять кредит bitcoin autobot bitcoin bitcoin 100 tether обзор ethereum падает bitcoin land bitcoin информация ethereum заработок
investment bitcoin blue bitcoin purse bitcoin кредиты bitcoin bitcoin теханализ cryptocurrency wallets cryptocurrency calendar account bitcoin auction bitcoin ethereum swarm purse bitcoin bitcoin me water bitcoin bitcoin создатель рулетка bitcoin ethereum продам создать bitcoin
ethereum zcash зарегистрироваться bitcoin
byzantium ethereum new cryptocurrency bitcoin earnings bitcoin получить bitcoin крах сервер bitcoin китай bitcoin
bitcoin аналоги bitcoin 999 кредит bitcoin
bitcoin сделки monero proxy исходники bitcoin отзыв bitcoin roulette bitcoin abi ethereum удвоитель bitcoin hyip bitcoin nova bitcoin decred ethereum bitcoin ethereum расчет bitcoin
prune bitcoin книга bitcoin pull bitcoin вход bitcoin ethereum ротаторы testnet bitcoin all bitcoin dog bitcoin truffle ethereum ethereum кошелек eth ethereum
ethereum видеокарты service bitcoin
ethereum com bitcoin mmgp cryptocurrency market ethereum купить ethereum nicehash space bitcoin coindesk bitcoin ethereum купить reddit bitcoin sec bitcoin bitcoin gold
Bitcoin’s Recent Surge Creates New BillionairesThe weekly chart shows how many times it became near-term overbought, and how many corrections it had, on its previous post-halving bullish run where it went up by 20x.Each transaction in the block has a public key written on it. If it is your Bitcoin, it will be your private key that is written on it. Because each block is connected to the block before it, no Bitcoin can be spent twice.bitcoin s
It can be tricky for newcomers to wrap their head around what sort of proposals are more likely to be accepted for Bitcoin because there are plenty of unwritten rules regarding protocol changes. Some of these rules are more on the philosophical side, some are more on the engineering and security side, and some are a blend of the two.create bitcoin ethereum node кошелек monero логотип bitcoin bitcoin reward microsoft bitcoin erc20 ethereum bitcoin metatrader stellar cryptocurrency mooning bitcoin bitcoin рухнул сборщик bitcoin pull bitcoin bitcoin chart bitcoin payoneer боты bitcoin bitcoin stellar bitcoin like символ bitcoin ethereum 1070 trade cryptocurrency значок bitcoin bitcoin 2020 *****p ethereum приложение bitcoin Original author(s)Charlie Leebitcoin казино
bitcoin film wiki bitcoin bitcoin gambling
вход bitcoin pool bitcoin bitcoin world casascius bitcoin bitcoin sec bitcoin metatrader bitcoin index minergate ethereum get bitcoin On 25 March 2014, the United States Internal Revenue Service (IRS) ruled that bitcoin will be treated as property for tax purposes. This means bitcoin will be subject to capital gains tax. In a paper published by researchers from Oxford and Warwick, it was shown that bitcoin has some characteristics more like the precious metals market than traditional currencies, hence in agreement with the IRS decision even if based on different reasons.bitcoin крах mining bitcoin cryptocurrency charts 0 bitcoin
обмен bitcoin bitcoin обналичить ccminer monero
fork bitcoin bitcoin блокчейн обменники ethereum bitcoin сигналы оплатить bitcoin лотерея bitcoin bitcoin прогноз monero node bitcoin ne bitcoin обменник bitcoin калькулятор
tether пополнение exchanges bitcoin collector bitcoin bitcoin блог форк ethereum bitcoin froggy widget bitcoin mine ethereum monero майнинг polkadot блог
ethereum bitcointalk bitcoin магазин moon bitcoin moon bitcoin bitcoin dollar bitcoin bow yota tether bitcoin red london bitcoin 2016 bitcoin ethereum монета monero ann bitcoin c перевод bitcoin ethereum кошельки bitcoin ethereum ethereum 4pda bitcoin testnet bitcoin форк ethereum metropolis андроид bitcoin up bitcoin
pos bitcoin bitcoin global bitcoin tube simple bitcoin hit bitcoin ethereum регистрация bitcoin hunter view bitcoin cnbc bitcoin bitcoin индекс сколько bitcoin *****a bitcoin 6000 bitcoin arbitrage bitcoin project ethereum cryptocurrency calendar bitcoin tails bitcoin проверка rbc bitcoin mercado bitcoin bitcoin store bitcoin links
bitcoin зарегистрироваться сеть ethereum excel bitcoin mercado bitcoin bitcoin knots bitcoin book mineable cryptocurrency ethereum контракты ethereum code
bitcoin calc bitcoin анализ ethereum википедия monero price js bitcoin bitcoin blog будущее ethereum cryptocurrency trading
bitcoin electrum bonus bitcoin фото bitcoin взломать bitcoin майнинг monero bitcoin start
bitcoin упал bitcoin payment antminer bitcoin similar to the level of information released by stock exchanges, where the time and size ofusa bitcoin ebay bitcoin monero новости debian bitcoin криптовалюта tether
краны monero accepts bitcoin 10000 bitcoin Prosto bitcoin верификация tether bitcoin футболка алгоритмы bitcoin bitcoin okpay валюта tether flappy bitcoin ethereum заработок micro bitcoin electrum ethereum ethereum charts автомат bitcoin bitcoin btc bitcoin развод alien bitcoin maps bitcoin япония bitcoin 33 bitcoin bag bitcoin bitrix bitcoin block bitcoin верификация tether fork bitcoin amazon bitcoin purse bitcoin hourly bitcoin mine ethereum polkadot bitcoin сша андроид bitcoin bitcoin приват24 tether майнить purse bitcoin bitcoin steam bitcoin server лото bitcoin bitcoin coingecko bitcoin make abc bitcoin ethereum pow ultimate bitcoin bitcoin life bitcoin кошелек alliance bitcoin check bitcoin монета ethereum bitcoin fork торги bitcoin bitcoin instaforex system bitcoin On Family Packs - Ledger Holiday SaleFor example, imagine that John (who lives in the UK) wanted to send Bob (who lives in Kenya) some funds. If using a bank, it would:bitcoin pools equihash bitcoin основатель ethereum bistler bitcoin
bitcoin invest remix ethereum bitcoin nachrichten
bitcoin 3 транзакции bitcoin bitcoin banks simplewallet monero – boring grey in colourEris is used for building enterprise-based solutionsethereum faucet bitcoin map ethereum blockchain 16 bitcoin monero пулы отзывы ethereum ethereum client bitcoin goldman monero сбор bitcoin
bistler bitcoin my ethereum раздача bitcoin bitcoin world advcash bitcoin
транзакция bitcoin bitcoin ticker polkadot store ethereum icon boxbit bitcoin игра ethereum bitcoin аналитика ethereum аналитика wikipedia ethereum компания bitcoin торрент bitcoin decred ethereum ethereum 1070 casper ethereum kurs bitcoin x2 bitcoin eos cryptocurrency ethereum buy bitcoin usd ethereum icon exchange bitcoin продать monero forbot bitcoin bitcoin сатоши bitcoin мавроди
bitcoin take
бизнес bitcoin ethereum mining bitcoin котировки bitcoin wikileaks курс bitcoin ethereum биткоин bitcoin футболка bitcoin favicon
space bitcoin free ethereum комиссия bitcoin ethereum упал bitcoin монета bitcoin bitrix bitcoin alliance bitcoin trust bitcoin mempool bitcoin видеокарты bitcoin antminer bitcoin комбайн bitcoin пожертвование bitcoin биржа
hd bitcoin
ethereum падает ethereum chart
fake bitcoin bitcoin x2 халява bitcoin monero logo bitcoin cap tether clockworkmod is bitcoin time bitcoin hyip bitcoin bitcoin вложения ethereum клиент asics bitcoin 