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 CPUs (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.
So let‘s walk through the whole story. What are cryptocurrencies?How much the bitcoin miner hardware coststether пополнение To help you understand some of the other advantages that blockchain offers to businesses, here are some examples of industries that are currently using blockchain technology. This will surely get blockchain explained!
bitcoin вход
китай bitcoin monero calculator bitcoin icons bitcoin ebay ethereum testnet dollar bitcoin reindex bitcoin bitcoin dollar bitcoin окупаемость bitcoin conference шифрование bitcoin bitcoin адрес tether provisioning ethereum erc20 bitcoin игры займ bitcoin metatrader bitcoin bitcoin registration bitcoin agario crococoin bitcoin bitcoin data monero hardware алгоритм ethereum bitcoin stiller demo bitcoin mac bitcoin график ethereum especially given the prevailing direction of global monetary policy. According to the IMF, totalpython bitcoin bitcoin greenaddress ротатор bitcoin monero cpu bitcoin xl price bitcoin zcash bitcoin bitcoin трейдинг ethereum клиент blacktrail bitcoin bitcoin пулы транзакции ethereum rx470 monero bitcoin grant capitalization bitcoin
monero график Use a strong passwordудвоитель bitcoin payeer bitcoin bitcoin knots bitcoin cnbc
ethereum programming What an attacker can do once the network is taken over is quite limited. Under no circumstances could an attacker create counterfeit coins, fake transactions, or take anybody else's money. An attacker's capabilities are limited to taking back their own money that they very recently spent, and preventing other people's transactions from receiving confirmations. Such an attack would be very costly in resources, and for such meager benefits there is little rational economic incentive to do such a thing.cran bitcoin bitcoin терминал лото bitcoin обменять ethereum dat bitcoin Cryptocurrencies aren’t backed by a government.bitcoin registration добыча bitcoin exchange ethereum
биржа ethereum bitcoin магазин ethereum токен hashrate ethereum bitcoin it tera bitcoin бесплатные bitcoin
algorithm bitcoin ethereum проблемы monero майнинг bitcoin clouding pools bitcoin sberbank bitcoin bitcoin links bitcoin википедия ethereum russia rigname ethereum bitcoin apk ethereum форум matteo monero blogspot bitcoin ферма ethereum bitcoin 20
neo bitcoin bitcoin protocol euro bitcoin average bitcoin
ethereum charts bitcoin майнить ethereum котировки linux bitcoin bye bitcoin сайте bitcoin tracker bitcoin bazar bitcoin ethereum обменять 6000 bitcoin bitcoin source bitcoin qiwi bitcoin metatrader bitcoin javascript ethereum стоимость 1080 ethereum sec bitcoin flypool monero bitcoin аналоги bitcoin greenaddress ethereum swarm script bitcoin bitcoin рейтинг новости bitcoin It’s for everyone: Cryptocurrencies are open to every person on the planet. Banks have rules about who can have an account, crypto doesn’t. There are two billion people around the world that don’t have full access to bank accounts!arbitrage bitcoin alpha bitcoin теханализ bitcoin topfan bitcoin bitcoin 50 bitcoin checker bitcoin monkey cryptocurrency price bitcoin сервисы суть bitcoin майнер monero bitcoin elena nonce bitcoin bitcoin usa Private keys stored on a wallet connected to the internet are vulnerable to network-based theft. These wallets are known as hot wallets. With a hot wallet, all the functions required to complete a transaction are made from a single online device. The wallet generates and stores private keys; digitally signs transactions using private keys; and broadcasts the signed transaction to the network. The problem is that once the signed transactions have been broadcasted online, an attacker crawling the networks may become privy to the private key which was used to sign the transaction.mining ethereum
daemon bitcoin moneybox bitcoin ethereum stratum bitcoin click bitcoin center приложения bitcoin bitcoin local
multisig bitcoin продам bitcoin
получить ethereum продам bitcoin установка bitcoin monero bitcoin loto bank cryptocurrency bitcoin цены bitcoin кошелька ethereum stats bitcoin nvidia black bitcoin валюта tether bitcoin pro ethereum rub sha256 bitcoin monero ann bitcoin москва bitcoin это
60 bitcoin ethereum скачать ethereum core bitcoin casascius monero краны bitcoin смесители кости bitcoin mist ethereum bitcoin machine карты bitcoin bitcoin лопнет bitcoin mempool bitcoin multibit bitcoin иконка up bitcoin bitcoin course earn bitcoin комиссия bitcoin 20 bitcoin super bitcoin ethereum логотип bubble bitcoin all bitcoin продам bitcoin обвал bitcoin ethereum ico ethereum tokens кошель bitcoin accepts bitcoin bitcoin деньги bitcoin ledger bitcoin balance purse bitcoin bitcoin airbit bitcoin автоматически bitcoin ethereum автомат bitcoin транзакции bitcoin вывод monero адрес bitcoin сложность ethereum js bitcoin bitcoin global казино bitcoin работа bitcoin bitcoin мастернода
вход bitcoin bitcoin payza ethereum pow ethereum cryptocurrency часы bitcoin ethereum habrahabr bitcoin vps bitcoin hyip
bitcoin price monero difficulty основатель ethereum mt5 bitcoin homestead ethereum cryptocurrency calendar ethereum os bitcoin minecraft alien bitcoin ad bitcoin capitalization cryptocurrency forum bitcoin monero dwarfpool сложность ethereum red bitcoin
bitcoin сбор
bitcoin stealer bitcoin прогноз ethereum перевод monero rur rpg bitcoin взломать bitcoin bitcoin nasdaq cryptocurrency trade bitcoin donate ethereum асик bitcoin plus500 bitcoin nvidia
bitcoin russia bitcoin daily analysis bitcoin bitcoin 2016 динамика ethereum bitcoin rotator транзакция bitcoin
microsoft bitcoin ethereum хардфорк roll bitcoin
кошельки bitcoin nicehash bitcoin bitcoin стоимость tether обменник bitcoin nodes 6. On your computer or mobile device, use an IP scanning tool to show the devices connected to your internet connection. You should see your Antminer listed. You can then type the IP address of the Antminer into your browser window on your chosen device.pps bitcoin bitcoin metal tether wifi
email bitcoin bitcoin count bitcoin like мерчант bitcoin cryptocurrency arbitrage bitcoin arbitrage bitcoin автоматически kurs bitcoin bitcoin super bitcoin up падение ethereum bitcoin scam
best cryptocurrency monero новости register bitcoin panda bitcoin криптовалюты bitcoin bitcoin png bitcoin agario cms bitcoin 1 ethereum
bitcoin doge bitcoin generation ethereum 1070 cold bitcoin cryptocurrency law bitcoin apple box bitcoin bitcoin лотерея ethereum rotator
bitcoin ebay community bitcoin 999 bitcoin bitcoin аналоги
tether android инвестирование bitcoin скрипт bitcoin bitcoin exchanges 26bitcoin gif майнить bitcoin bitcoin график партнерка bitcoin bitcoin king
bitcoin банк kong bitcoin bitcoin dance nicehash bitcoin dat bitcoin bitcoin login bitcoin conveyor bitcoin nachrichten javascript bitcoin uk bitcoin monero gpu bitcoin investing ethereum dao ethereum siacoin bitcoin delphi stealer bitcoin joker bitcoin bitcoin рейтинг bitcoin get flypool ethereum clicker bitcoin зарабатывать bitcoin bitcoin торговля payable ethereum скачать bitcoin котировки ethereum card bitcoin explorer ethereum wallet cryptocurrency hd7850 monero bitcoin оборудование cryptocurrency nem ropsten ethereum ethereum получить spots cryptocurrency bitcoin key автосборщик bitcoin токен bitcoin использование bitcoin coffee bitcoin tether download
bitcoin markets bitcoin 4000 bitcoin cny цена bitcoin bip bitcoin nodes bitcoin amazon bitcoin ethereum картинки ethereum кран ethereum programming fx bitcoin bitcoin crypto
bitcoin сигналы hd bitcoin bitcoin hyip rate bitcoin bitcoin торговля цены bitcoin wisdom bitcoin pos ethereum
accepts bitcoin bitcoin виджет claymore monero case bitcoin mindgate bitcoin bitcoin alert forum cryptocurrency bitcoin transactions bitcoin сети баланс bitcoin bitcoin blockchain iso bitcoin
стоимость monero bitcoin alpari usb tether bitcoin сокращение кошелька ethereum bitcoin drip
nya bitcoin bitcoin venezuela stats ethereum Monero Mining: Full Guide on How to Mine Monerobitcoin транзакции
Final Thoughtsкриптовалют ethereum digi bitcoin mining bitcoin контракты ethereum cronox bitcoin ethereum russia bitcoin london froggy bitcoin bitcoin puzzle разработчик bitcoin ethereum ethash lite bitcoin bitcoin plus bitcoin ann кликер bitcoin app bitcoin
22 bitcoin server bitcoin bitcoin blog кошельки bitcoin отследить bitcoin bitcoin farm bitcoin vk 100 bitcoin bitcoin автомат
uk bitcoin tether io card bitcoin bitcoin заработок bitcoin 1000 Processing - miningeos cryptocurrency обменять monero tether gps bitcoin сети прогнозы ethereum доходность ethereum cgminer ethereum waves bitcoin алгоритмы ethereum scrypt bitcoin visa bitcoin bitcoin опционы bitcoin инвестиции bitcoin сервисы converter bitcoin ethereum com amazon bitcoin bitcoin cranes asics bitcoin monero пул ethereum платформа ethereum конвертер cz bitcoin bitcoin компьютер monero xmr боты bitcoin bitcoin electrum bitcoin exchanges
блок bitcoin часы bitcoin rx580 monero
today bitcoin котировка bitcoin When a node finds a proof-of-work, it broadcasts the block to all nodes.monero news bitcoin galaxy bitcoin metatrader iso bitcoin bitcoin stellar trade cryptocurrency bitcoin options заработок ethereum е bitcoin scrypt bitcoin bitcoin coinmarketcap habrahabr bitcoin сборщик bitcoin
moneybox bitcoin polkadot bitcoin мониторинг bitcoin alien bitcoin weekend
bitcoin gadget мавроди bitcoin bitcoin доллар
bitcoin tm ethereum видеокарты
attack bitcoin jax bitcoin баланс bitcoin earning bitcoin bitcoin википедия playstation bitcoin
вложить bitcoin bitcoin mmm cryptocurrency reddit all cryptocurrency bitcoin форк bitcoin usd The blockchain network gives internet users the ability to create value and authenticates digital information. What new business applications will result from this?In order to speculate on the valuations of cryptos such as Bitcoin and Ether, traders must ask key questions such as:bitcoin scam tether пополнение air bitcoin yota tether
make bitcoin cryptocurrency tech bitcoin транзакция best cryptocurrency ethereum падает bitcoin capital основатель ethereum security bitcoin cfd bitcoin bitcoin видео chain bitcoin Gold has historically been used in many applications, from luxury items like jewelry to specialized applications in dentistry, electronics, and more. In addition to ushering in a new focus on blockchain technology, bitcoin itself has tremendous baseline value as well. Billions of people around the world lack access to banking infrastructure and traditional means of finance like credit. With bitcoin, these individuals can send value across the globe for close to no fee. Bitcoin's true potential as a means of banking for those without access to traditional banks has perhaps yet to be fully developed.bitcoin получить account bitcoin bitcoin exchanges bitcoin atm bitcoin математика bitcoin future bitcoin миллионеры cryptocurrency exchange keystore ethereum cryptocurrency price escrow bitcoin bitcoin department форк ethereum bitcoin valet monero amd greenaddress bitcoin ethereum продать bitcoin etf bitcoin roulette bitcoin neteller bitcoin japan инструкция bitcoin bitcoin change bitcoin bot bitcoin exchanges
bitcoin forums bitcoin php monero bitcointalk bitcoin мерчант стоимость bitcoin киа bitcoin
india bitcoin bitcoin group
bitcoin конференция bitcoin cryptocurrency казино ethereum пожертвование bitcoin tx bitcoin
bitcoin перевести difficulty bitcoin bitcoin flapper store bitcoin ethereum torrent ethereum org
nvidia monero
monero fr bitcoin lurk forbot bitcoin bitcoin реклама bitcoin knots logo ethereum bitcoin play дешевеет bitcoin kraken bitcoin ethereum акции bitcoin инструкция bitcoin news
faucet cryptocurrency ethereum обменники wallet cryptocurrency
rpg bitcoin bitcoin rus статистика ethereum bitcoin магазин 999 bitcoin bitcoin информация tether usd bitcoin кредиты fast bitcoin play bitcoin tp tether avto bitcoin сбор bitcoin ethereum падение android ethereum bitcoin информация monero news
ethereum io bitcoin zebra bitcoin scripting ethereum coins ethereum contracts fpga bitcoin bitcoin реклама bitcoin смесители ethereum course криптовалют ethereum stellar cryptocurrency bitcoin xl testnet bitcoin In practice, like many programs of the era such as mail or Usenet clients, the default could simply be to hold onto the last n blocks/hashes (Satoshi estimates 12kb/day); this would consume a limited amount of disk space.token ethereum проверить bitcoin
hub bitcoin bitcoin main 1080 ethereum arbitrage cryptocurrency bitcoin coin bitcoin 4 bitcoin com
bitcoin fun bitcoin ферма сборщик bitcoin суть bitcoin bitcoin webmoney bitcoin aliexpress fenix bitcoin bitcoin start bitcoin swiss bitcoin knots bitcoin traffic
bitcoin sweeper криптовалюта tether cryptocurrency gold accepts bitcoin краны monero bitcoin gambling bitcoin maps китай bitcoin кошелек tether пулы bitcoin bitcoin сбор india bitcoin stock bitcoin fast bitcoin обновление ethereum
bitcoin capital биткоин bitcoin ethereum chart 0 bitcoin bitcoin earning bitcoin cap land bitcoin bitcoin путин rate bitcoin bitcoin algorithm neo bitcoin bitcoin com micro bitcoin
bitcoin lottery сложность bitcoin anomayzer bitcoin
registration bitcoin monero форум invest bitcoin master bitcoin bitcoin node monero пул bitcoin monero новости bitcoin lealana bitcoin ethereum habrahabr анонимность bitcoin ShareSay I tell three friends that I'm thinking of a number between 1 and 100, and I write that number on a piece of paper and seal it in an envelope. My friends don't have to guess the exact number, they just have to be the first person to guess any number that is less than or equal to the number I am thinking of. And there is no limit to how many guesses they get.bitcoin playstation bitcoin node click bitcoin конференция bitcoin
bitcoin torrent bitcoin футболка bitcoin комиссия bitcoin loan fpga ethereum бутерин ethereum abi ethereum php bitcoin generator bitcoin bitcoin parser bitcoin laundering bitcoin charts bitcoin бесплатный bitcoin проверка
bitcoin ваучер
ethereum mist collector bitcoin nicehash monero dat bitcoin
hack bitcoin bitcoin tools bitcoin advcash key bitcoin Quiet because of no constantly humming fansbitcoin pools ethereum майнеры bitcoin играть пополнить bitcoin trader bitcoin arbitrage cryptocurrency 1 ethereum ethereum асик
фото bitcoin торрент bitcoin bitcoin генераторы bear bitcoin ava bitcoin bitcoin транзакция trinity bitcoin xmr monero alien bitcoin цена ethereum
Ultimately, the governance of the protocol does not occur via a well-defined, top-down fashion. Rather, it inverts traditional models of governance via enforcement from the bottom up.bitcoin instagram zcash bitcoin
