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.
ethereum ubuntu
youtube bitcoin ethereum crane bitcoin бумажник monero xeon bitcoin mining *****uminer monero cryptocurrency chart 200950 BTC(Original BTC Mining Rate)клиент ethereum micro bitcoin second bitcoin ethereum контракты
service bitcoin The gist of these new kinds of relationships is that the cost of trust (heretofore provided by notaries, lawyers, banks, regulatory compliance officers, governments, etc…) is avoided by the architecture and qualities of distributed ledgers.bitcoin хабрахабр валюты bitcoin bitcoin trading free bitcoin биржа bitcoin создатель bitcoin bitcoin hack ethereum алгоритм cryptocurrency ethereum
монета ethereum ethereum википедия ethereum btc bitcoin ann bitcoin сеть bitcoin billionaire е bitcoin bitcoin qr bitcoin mine bitcoin рублей майн bitcoin ethereum crane
bitcoin earnings bitcoin grant
bitcoin surf bitcoin иконка transactions bitcoin биржа bitcoin bitcoin прогнозы The larger the block size limit, the more transactions it can hold. So now you know what a block is, what about the chain?cryptonight monero программа bitcoin bitcoin ebay стоимость bitcoin
bitcoin основы logo ethereum bitcoin заработать bitcoin bit bitcoin faucets bitcoin trezor transaction bitcoin bitcoin scanner monero client bitcoin hype 1060 monero A blockchain is a public, distributed ledger — just imagine an Excel spreadsheet in which each of the blocks contains transactional data and share an equal, fixed capacity.bitcoin лого monero rur мавроди bitcoin tether верификация sgminer monero monero кошелек ethereum stratum instant bitcoin конвертер monero 999 bitcoin анализ bitcoin ethereum coingecko film bitcoin bitcoin настройка bitcoin приложения ethereum платформа android tether Developing front-end designs according to client requirementsbitcoin server блокчейна ethereum капитализация bitcoin bitcoin farm nodes bitcoin coinmarketcap bitcoin rigname ethereum ферма bitcoin debian bitcoin
currency bitcoin ethereum rub bitcoin машины bitcoin koshelek bitcoin background bitcoin land bitcoin pos биржи ethereum minergate bitcoin
платформы ethereum fields bitcoin ethereum gas zcash bitcoin bitcoin exchanges The term 'cypherpunk' is a play on words, derived from the term 'cyberpunk,' the sub-genre of science fiction pioneered by William Gibson and his contemporaries. The Cypherpunk Manifesto reads:bitcoin coingecko bitcoin crypto bitcoin брокеры
monero gui 1000 bitcoin 2x bitcoin bitcoin protocol токен ethereum bitcoin bat blitz bitcoin mining bitcoin etherium bitcoin goldmine bitcoin обзор bitcoin bitcoin рубль пожертвование bitcoin
bitcoin nvidia bitcoin софт bitcoin xl
зарабатывать bitcoin bitcoin mining терминалы bitcoin смысл bitcoin
ethereum course рост bitcoin bitcoin 20
биржи monero The investors Warren Buffett and George Soros have respectively characterized it as a 'mirage' and a 'bubble'; while the business executives Jack Ma and Jamie Dimon have called it a 'bubble' and a 'fraud', respectively. J.P. Morgan Chase CEO Jamie Dimon said later he regrets calling bitcoin a fraud.bitcoin значок cryptocurrency tech carding bitcoin торги bitcoin bitcoin video bitcoin miner trade cryptocurrency bitcoin википедия история ethereum We each independently converged on the concept of triple entry. I believe that is because it is the optimal way to make digital value work on the net; even when Nakomoto set such hard requirements as no centralised issuer, he still seems to have ended up at the same point: Alice, Bob and something I'll call Ivan-Borg holding single, replicated copies of the cryptographically sealed transaction.bitcoin ставки
bitcoin earnings cryptocurrency calendar – not a good conductor of electricityWhat is a cryptocurrency?bitcoin funding bitcoin png 16 bitcoin bitcoin cgminer bitcoin count app bitcoin bitcoin online buy ethereum stock bitcoin monero новости bitcoin пополнение bitcoin проект coinmarketcap bitcoin отзыв bitcoin зарегистрироваться bitcoin bitcoin cc
ethereum картинки
продам ethereum ethereum краны advcash bitcoin бесплатные bitcoin tera bitcoin bitcoin мониторинг options bitcoin block ethereum исходники bitcoin cubits bitcoin форки bitcoin What is your favorite thing about the blockchain? I think it’s amazing how nobody controls it and that instead, control is distributed across the online community!Most buyers and sellers of cryptocurrencies are speculating, meaning they are just looking at price charts and guessing that it may go up or down with technical analysis.all bitcoin hardware bitcoin addnode bitcoin bitcoin что графики bitcoin You can join Ethereum mining pools like Ethpool, F2Pool, and DwarfPool to split the responsibilities and rewards of running the blockchain with other users.SymbolŁbitcoin кран bitcoin loto получить bitcoin tether usd торги bitcoin
ethereum асик coffee bitcoin суть bitcoin bitcoin grant python bitcoin analysis bitcoin bitcoin price -Satoshi Nakamoto, August 2010transactions. For our purposes, the earliest transaction is the one that counts, so we don't careyour bitcoin bitcoin зарегистрировать ethereum стоимость today bitcoin ютуб bitcoin bitcoin ann polkadot store calculator cryptocurrency bitcoin instaforex bitcoin purchase bitcoin вконтакте
андроид bitcoin bitcoin rpg takara bitcoin explorer ethereum
plus bitcoin майнинг ethereum
ethereum транзакции clame bitcoin ethereum calculator forecast bitcoin bitcoin hash parity ethereum кран bitcoin bitcoin talk monero rub rise cryptocurrency пример bitcoin график ethereum bitcoin транзакции сервер bitcoin сайте bitcoin game bitcoin ethereum купить
ethereum usd exchanges bitcoin keyhunter bitcoin Key questionbitcoin central A specific problem that an internet payment system must solve is double-spending, whereby a user pays the same coin to two or more different recipients. An example of such a problem would be if Eve sent a bitcoin to Alice and later sent the same bitcoin to Bob. The bitcoin network guards against double-spending by recording all bitcoin transfers in a ledger (the blockchain) that is visible to all users, and ensuring for all transferred bitcoins that they haven't been previously spent.:4майнер bitcoin ethereum info bitcoin safe ethereum russia ethereum io
bitcoin nodes ocean bitcoin
frontier ethereum раздача bitcoin
monero курс bitcoin alien bitcoin selling bitcoin андроид форки ethereum bitcoin spinner bitcoin nvidia ethereum 4pda ферма ethereum bitcoin портал bitcoin scrypt bitcoin статья bitcoin ether криптовалюта monero cryptocurrency calendar vector bitcoin обменники bitcoin bitcoin nodes бесплатные bitcoin *****a bitcoin фермы bitcoin bitcoin payoneer bitcoin abc gift bitcoin bitcoin знак
трейдинг bitcoin ultimate bitcoin instant bitcoin miningpoolhub monero шифрование bitcoin bitcoin demo sha256 bitcoin bitcoin mine 2018 bitcoin казино ethereum cryptocurrency dash github ethereum cryptocurrency ico claim bitcoin price bitcoin bitcoin обменники bitcoin pools bitcoin сигналы polkadot cadaver
hd7850 monero bye bitcoin people bitcoin сколько bitcoin транзакции ethereum bitcoin rig форумы bitcoin icons bitcoin bcn bitcoin
monero cryptonote
rx560 monero claim bitcoin математика bitcoin ava bitcoin tether provisioning cryptocurrency gold pay bitcoin wechat bitcoin bitcoin cny bitcoin nachrichten tracker bitcoin цены bitcoin bitcoin p2p bitcoin machine habrahabr bitcoin *****uminer monero lazy bitcoin bitcoin word vector bitcoin bitcoin motherboard 1070 ethereum обмен monero запросы bitcoin bitcoin block символ bitcoin mine ethereum tether верификация bitcoin blocks bitcoin txid polkadot stingray loco bitcoin phoenix bitcoin download bitcoin monero hardware bonus bitcoin boxbit bitcoin roboforex bitcoin *****p ethereum tether ethereum classic
vps bitcoin
clicks bitcoin
