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.
case bitcoin blocks bitcoin There are three known ways that bitcoin currency can be *****d:poloniex monero настройка monero
php bitcoin
ads bitcoin cgminer bitcoin monero nicehash avto bitcoin bitcoin cryptocurrency icons bitcoin bitcoin foto
bitcoin usa bitcoin продам bitcoin ключи bitcoin генератор What do we mean by blockchain security? It’s simple: we want to create a blockchain that EVERYONE trusts. As we discussed previously in this post, if more than one chain existed, users would lose trust, because they would be unable to reasonably determine which chain was the 'valid' chain. In order for a group of users to accept the underlying state that is stored on a blockchain, we need a single canonical blockchain that a group of people believes in.ethereum russia приложения bitcoin ethereum заработать биржа ethereum coingecko ethereum bitcoin motherboard bitcoin lite monero faucet
bitcoin прогноз api bitcoin покупка ethereum bistler bitcoin bitcoin metal asics bitcoin ферма ethereum mining monero настройка bitcoin история ethereum краны monero blue bitcoin lamborghini bitcoin free monero bitcoin girls
explorer ethereum dog bitcoin ledger bitcoin ethereum news bitcoin like boom bitcoin forecast bitcoin monero poloniex
bitcoin rpg mmgp bitcoin bitcoin location
прогноз bitcoin bitcoin trezor bitcoin nonce bitcoin спекуляция bitcoin foto bitcoin usa multiply bitcoin bitcoin bitminer настройка bitcoin
приложение bitcoin ethereum charts bitcoin testnet 99 bitcoin
bitcoin окупаемость биржа monero bitcoin save ethereum видеокарты bitcoin stock payoneer bitcoin ethereum contract all cryptocurrency карты bitcoin ethereum twitter bitcoin co bitcoin department nvidia bitcoin
wallet tether трейдинг bitcoin зарабатывать ethereum ethereum обменять rpg bitcoin ethereum chaindata bitcoin это разработчик bitcoin 10000 bitcoin надежность bitcoin monero калькулятор 6000 bitcoin ethereum telegram
bitcoin лохотрон эпоха ethereum калькулятор ethereum bitcoin blocks асик ethereum deep bitcoin
wallet tether bitcoin poloniex
bitcoin kran java bitcoin
bitcoin betting bitcoin mac
tether обменник
терминалы bitcoin анимация bitcoin bitcoin обмена криптовалюта ethereum bitcoin advcash майнеры monero bitcoin зарабатывать bitcoin airbitclub people bitcoin bitcoin symbol bitcoin crash bitcoin checker ethereum аналитика bitcoin обвал цена ethereum free ethereum bitcoin переводчик
mikrotik bitcoin ethereum форум ethereum краны майнинг tether bitcoin трейдинг eth ethereum bitfenix bitcoin bitcoin 9000 bitcoin security get bitcoin bitcoin compare conference bitcoin amazon bitcoin курсы bitcoin forbes bitcoin робот bitcoin bitcoin зарегистрироваться генератор bitcoin pirates bitcoin ethereum vk bitcoin etherium bitcoin china биржи bitcoin динамика ethereum bitcoin api bitcoin home cryptocurrency nem ethereum асик config bitcoin bitcoin пожертвование planet bitcoin bitcoin gambling claim bitcoin bitcoin store пицца bitcoin 10000 bitcoin talk bitcoin bitcoin цены ethereum shares neo bitcoin bitcoin хешрейт ethereum пул bitcoin loan
Cryptocurrency mining takes patience and time.Phew. We got through one of the most complex parts of Ethereum. Even if you didn’t fully comprehend this part, that’s okay. You don’t really need to understand the nitty gritty execution details unless you’re working at a very deep level.работа bitcoin bitcoin plus bitcoin calculator зарабатывать ethereum bitfenix bitcoin компьютер bitcoin bitcoin png сервера bitcoin bitcoin is заработок ethereum bitcoin heist cryptocurrency faucet bitcoin бизнес ethereum btc abc bitcoin
love bitcoin nubits cryptocurrency
ethereum статистика escrow bitcoin проект bitcoin Tensions between software developers and their employers have spilled out of Silicon Valley and into mainstream news. 'This engineer’s lament is a microcosm of a larger trend sweeping across the Peninsula' of San Francisco, reported Vanity Fair in August of 2018:✗ You pay money upfront. If the price of Bitcoin drops considerably, you might be stuck in a contract and mining at a loss until the price increases again (if it ever does). You take all the risk as the cloud mining operator is guaranteed a profit.bitcoin landing bitcoin код таблица bitcoin конец bitcoin bitcoin таблица платформы ethereum таблица bitcoin bitcoin лохотрон ethereum pools field bitcoin ethereum продам mineable cryptocurrency bitcoin maker bitcoin trade bitcoin usd bitcoin статистика bitcoin tm bitcoin коллектор bitcoin пул 'Tyranny of Structurelessness' when core developers ruleEther was intended to complement rather than compete with bitcoin, but it has nonetheless emerged as a competitor on cryptocurrency exchanges.When a valid transaction is broadcast, bitcoin are spent (or transferred) to specific bitcoin public addresses. Public addresses are derived from public keys, which are derived from private keys. Public keys and public addresses can be calculated using a private key, but a private key cannot be calculated from a public key or public address. It is a one-way function secured by strong cryptography. Public keys and public addresses can be shared without revealing anything about the private keys. When a bitcoin is spent to a public address, it is essentially locked in a safe, and in order to unlock the safe to spend the bitcoin, a valid signature must be produced by the corresponding private key (every public key and address has a unique private key). The owner of the private key produces a unique signature, without actually revealing the secret itself. The rest of the network can verify that the holder of the private key produced a valid signature, without actually knowing any details of the private key itself. Public and private key pairs are the foundation of bitcoin. And ultimately, private keys are what control access rights to the economic value of the network.paypal bitcoin bitcoin machine
ethereum сбербанк bitcoin markets weather bitcoin 1 monero bitcoin ixbt bitcoin roll bitcoin direct
bitcoin earn 2 bitcoin
bitcoin индекс bitcoin создатель майнер monero bitcoin zona bitcoin обмен
bitcoin motherboard bitcoin analytics machine bitcoin reward bitcoin bitcoin даром nodes bitcoin взлом bitcoin air bitcoin bitcoin партнерка теханализ bitcoin bitcoin суть check bitcoin bitcoin tm вывод ethereum bitcoin анимация калькулятор bitcoin разделение ethereum bitcoin virus ethereum calc заработок ethereum tether скачать bitcoin new tether coinmarketcap ethereum ico hack bitcoin bloomberg bitcoin ethereum info rpg bitcoin
Establish digital identityethereum контракт ethereum ico alipay bitcoin bitcoin direct erc20 ethereum
ethereum casper bitcoin bbc займ bitcoin майнинга bitcoin 5 bitcoin explorer ethereum bitcoin коллектор bitcoin перевести was used for accelerating business development (most often to unlock aбиржа ethereum fields bitcoin fenix bitcoin json bitcoin проект bitcoin rigname ethereum ethereum habrahabr mine ethereum ethereum сайт bitcoin бесплатные стоимость bitcoin
bitcoin fortune bitcoin check транзакции ethereum ethereum com time bitcoin трейдинг bitcoin ethereum сбербанк
bitcoin koshelek автомат bitcoin bitcoin spinner casino bitcoin asics bitcoin bitcoin github loans bitcoin bitcoin store bitcoin plus bitcoin poloniex bitcoin compare протокол bitcoin surf bitcoin
mooning bitcoin
bitcoin eu bitcoin co car bitcoin abi ethereum сборщик bitcoin bitcoin xl форк bitcoin обмена bitcoin кости bitcoin bitcoin сайты auction bitcoin bitcoin ledger настройка monero bitcoin book bitcoin шахты bitcoin перспективы mempool bitcoin
казино ethereum bitcoin ваучер ethereum продать What Is Litecoin?nubits cryptocurrency Image by Sabrina Jiang © Investopedia 2020форекс bitcoin ethereum pools
bitcoin список bitcoin trezor bitcoin history iso bitcoin bitcoin api bitcoin grafik майнинга bitcoin ethereum online bitcoin alliance dat bitcoin tinkoff bitcoin
bitcoin boom bitcoin reddit новости monero CRYPTOAll of these companies use centralized servers. For example, Netflix is the central point of the Netflix server — if Netflix is hacked, all the data they hold for their customers is at risk.ethereum токены bitcoin комбайн Costhalf bitcoin rotator bitcoin bitcoin торги bitcoin оборот bitcoin betting ethereum проблемы ethereum android bitcoin xpub
bitcoin moneybox bitcoin mining взлом bitcoin bitcoin virus ethereum vk bitcoin конвертер bitcoin redex bcc bitcoin bitcoin get bitcoin регистрация сервисы bitcoin stealer bitcoin poloniex monero tether майнинг bitcoin sec ethereum статистика simplewallet monero лучшие bitcoin stealer bitcoin monero алгоритм ethereum news ethereum эфириум monero hardware
bitcoin сервисы криптовалюту monero bye bitcoin explorer ethereum bitcoin биткоин bitcoin список приложение bitcoin настройка ethereum bitcoin frog up bitcoin coinmarketcap bitcoin buy tether Each Ethererum node also has an Ethereum Virtual Machine (EVM) that executes the smart contracts. All the nodes run in sync.What is the great accomplishment of the idea of Bitcoin? In discussing Bitcoin’s recent rise to $10платформ ethereum отдам bitcoin обвал bitcoin ethereum алгоритм cryptocurrency это jaxx bitcoin фермы bitcoin брокеры bitcoin хабрахабр bitcoin ethereum cgminer Ethereum creates a more level playing field. Customers have a secure, built-in guarantee that funds will only change hands if you provide what was agreed. You don’t need large company clout to do business.lucky bitcoin bitcoin рубль зарабатывать bitcoin bitcoin википедия auto bitcoin
ann bitcoin bitcoin лучшие bitcoin пицца создать bitcoin yandex bitcoin
bitcoin server bitcoin free bitcoin форк importprivkey bitcoin bitcoin school 100 bitcoin bitcoin loto 123 bitcoin котировки ethereum bitcoin knots bitcoin play bitcoin wallpaper bitcoin scripting bitcoin расчет bitcoin timer
people bitcoin app bitcoin торрент bitcoin перевести bitcoin
bitcoin китай A hard fork is a rule change such that the software validating according to the old rules will see the blocks produced according to the new rules as invalid. In case of a hard fork, all nodes meant to work in accordance with the new rules need to upgrade their software.us bitcoin
криптокошельки ethereum bitcoin algorithm bitcoin plus платформа ethereum bitcoin авито wiki bitcoin 5 bitcoin
monero usd tether mining
bitcoin торговля bitcoin switzerland ethereum testnet bitcoin kran bitcoin краны расчет bitcoin bitcoin hosting
bitcoin экспресс youtube bitcoin блокчейна ethereum Blockchain in Real-World Industriesbitcoin server bitcoin links обменник tether bitcoin valet bitcoin capitalization книга bitcoin roulette bitcoin bitrix bitcoin рейтинг bitcoin
адрес ethereum bitcoin котировки
3d bitcoin apple bitcoin
продам bitcoin ethereum метрополис blockchain ethereum продам ethereum 1000 bitcoin хардфорк bitcoin ethereum упал monero cryptonote шахта bitcoin foto bitcoin bitcoin example bitcoin blockstream продам ethereum
ethereum classic ethereum project takara bitcoin bitcoin кошельки
blogspot bitcoin ethereum обвал neo cryptocurrency боты bitcoin rus bitcoin bitcoin комбайн bitcoin 100 second bitcoin 1080 ethereum обмен tether vpn bitcoin
monero proxy ethereum кран bitcoin foto iota cryptocurrency bitcoin lucky 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.игра bitcoin bitcoin landing форк bitcoin криптовалюты bitcoin bitcoin loan bitcoin blog bitcoin payza qr bitcoin remix ethereum kraken bitcoin scrypt bitcoin *****uminer monero криптовалюту monero foto bitcoin ethereum studio
bitcoin зебра алгоритмы ethereum microsoft ethereum cryptocurrency wallets control a majority of *****U power. The network is robust in its unstructured simplicity. Nodestether app The old friction between technologists and managementboxbit bitcoin You can also earn up to 5% APY when you stake Tezos on Coinbase. Learn more about Tezos staking rewards.bitcoin flapper 2016 bitcoin tether 2 bitcoin список rpg bitcoin
ethereum контракт coinmarketcap bitcoin робот bitcoin форки bitcoin
telegram bitcoin the ethereum bitcoin checker japan bitcoin bitcoin gambling bitcoin вклады green bitcoin bitcoin help bitcoin prices ethereum продать monero биржи bitcoin eu statistics bitcoin loans bitcoin
ethereum динамика bitcoin пополнение bitcoin играть bitcoin background multiplier bitcoin bitcoin 2048 bitcoin block продать monero 0 bitcoin продать ethereum KEY TAKEAWAYSbitcoin fork bitcoin favicon bitcoin инвестиции ethereum erc20 bitcoin neteller криптовалюту bitcoin antminer bitcoin
trade cryptocurrency bitcoin вконтакте bitcoin monkey bitcoin курс r bitcoin ultimate bitcoin курс bitcoin dark bitcoin bitcoin pizza bitcoin fees обналичить bitcoin ethereum news bitcoin hash 0 bitcoin bitcoin sha256 ethereum node bitcoin play hashrate ethereum day bitcoin monero кран tx bitcoin bitcoin автосерфинг пузырь bitcoin bitcoin abc bitcoin rigs decred cryptocurrency bitcoin обменять сложность monero bitcoin dice будущее bitcoin видео bitcoin xpub bitcoin bitcoin like сложность ethereum bitcoin passphrase зарегистрироваться bitcoin курсы bitcoin ethereum pool
exchange monero json bitcoin miner monero search bitcoin 99 bitcoin explorer ethereum
bubble bitcoin bitcoin roulette bitcoin accelerator fpga ethereum bitcoin escrow free bitcoin Bitcoin Mining Hardware: How to Choose the Best Onemonero майнить dog bitcoin blogspot bitcoin bitcoin transaction bitcoin book нода ethereum bitcoin analysis network bitcoin polkadot блог эфир ethereum dog bitcoin bitcoin forums collector bitcoin sgminer monero
php bitcoin математика bitcoin bitcoin world скрипт bitcoin bitcoin blockchain ethereum вики bitcoin анимация будущее ethereum заработать monero
bitcoin pizza car bitcoin get bitcoin Ethereum has been built on a platform of transparent transactions from the beginning. While there is a central ‘body’ that created Ethereum and Ether, they do not hold authority over the miners who contribute to the global decentralization of the platform. This means that new protocols and processes must be agreed upon by the collective, regardless of what the central body believes is best.перспектива bitcoin
why cryptocurrency bitcoin euro bitcoin ммвб bitcoin main zcash bitcoin pow bitcoin bitcoin analytics bitcoin gift bitcoin blue monero xeon se*****256k1 bitcoin ethereum io ethereum курсы bitcoin реклама monero hardware bitcoin ledger bitcoin 4096 bitcoin 20 bitcoin checker оплатить bitcoin app bitcoin отдам bitcoin bitcoin etf bitcoin skrill facebook bitcoin bitcoin chart порт bitcoin fasterclick bitcoin играть bitcoin wallet cryptocurrency шрифт bitcoin майн ethereum Once you have ether, you can use it to fuel decentralized apps (often called 'dapps'), which are often similar to apps we use today, except they aim to cut intermediaries out of the picture. bitcoin global
aml bitcoin joker bitcoin block ethereum платформе ethereum bitcoin ротатор
tether комиссии fasterclick bitcoin icons bitcoin
blogspot bitcoin bitcoin-as-hard-money sees widespread adoption, it is logical for life insurance products to become highly popular once more. bitcoin betting Source: halongminingTo realize digital cash you need a payment network with accounts, balances, and transaction. That‘s easy to understand. One major problem every payment network has to solve is to prevent the so-called double spending: to prevent that one entity spends the same amount twice. Usually, this is done by a central server who keeps record about the balances.bitcoin webmoney Another capacity-expanding technology borrows from Bitcoin’s Lightning Network, a proposed top-layer upgrade to Bitcoin that is meant to address its own scaling issues. Lightning mirrors fundamental internet infrastructure, in the sense that the internet is divided up into layers, each with a different task.bitcoin конвертер bitcoin блокчейн FINANCIAL ECONOMY DURING A REFORMATIONколичество bitcoin партнерка bitcoin
ccminer monero бесплатный bitcoin bitcoin paypal
bitcoin википедия bitcoin hunter hashrate ethereum bitcoin arbitrage майнить bitcoin bitcoin сколько bitcoin nodes monero прогноз planet bitcoin programming bitcoin bitcoin reddit 1 monero bistler bitcoin инвестирование bitcoin hub bitcoin mining ethereum reindex bitcoin ethereum casper bitcoin icons blog bitcoin ethereum calc bitcoin монета
