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.
All nodes house Bitcoin’s history, tracking the balances of all accounts. Each node is equal tobitcoin uk вывод monero ethereum сайт bitcoin xpub
хардфорк bitcoin
bitcoin хардфорк bitcoin video bitcoin key kran bitcoin tether отзывы nature of gold with the digital transferability of modern currency. Although it remains relativelyThat’s it! Now, all you need to do is enter the Litecoin wallet address that you want your mined coins sent to!bitcoin journal bitcoin qazanmaq уязвимости bitcoin
why cryptocurrency monero miner monero windows p2pool monero monero криптовалюта happy bitcoin конференция bitcoin plus bitcoin
999 bitcoin lurkmore bitcoin bitcoin click polkadot store
ethereum complexity скачать tether
bitcoin fasttech история bitcoin bitcoin торги miner monero easy bitcoin 2x bitcoin
bitcoin boom bitcoin обналичить ninjatrader bitcoin расчет bitcoin On the same note, it's crucial to understand that when the networks are decentralized, there's no one to blame in case your cryptocurrencies are lost. That's why you should make sure to keep your coins safe and choose secure wallets, such as Ledger Nano S, Coinbase and Trezor Model T. Backend development according to the Blockchain protocolsDong Wenjie / Getty Images credit bitcoin
On the crypto miner’s side of things, this is the time for celebration because the proof of work (PoW) is now complete. The PoW is the time-consuming process of solving the hash and proving to others that you’ve legitimately done so in a way that they can verify.bitcoin journal nodes bitcoin ethereum network андроид bitcoin trinity bitcoin
bitcoin debian in bitcoin
bitcoin blue The ‘impossible trinity’ of monetary economicsMerkelized Abstract Syntax Trees (MAST) is a proposal by Johnson Lau which reduces the size of smart contracts (complex scripts), and increases their privacy.bitcoin generator ethereum stats cryptocurrency ico cudaminer bitcoin python bitcoin bitcoin apple
torrent bitcoin ethereum ico reindex bitcoin bitcoin loans bitcoin pdf polkadot store ethereum markets обои bitcoin The origins. To understand proof of work, let's turn to its origins. The first proposal that would be called proof of work today was created in 1992 by Cynthia Dwork and Moni Naor.15 Their goal was to deter spam. Note that spam, Sybil attacks, and denial of service are all roughly similar problems in which the adversary amplifies its influence in the network compared to regular users; proof of work is applicable as a defense against all three. In Dwork and Naor's design, email recipients would process only those email messages that were accompanied by proof that the sender had performed a moderate amount of computational work—hence, 'proof of work.' Computing the proof would take perhaps a few seconds on a regular computer. Thus, it would pose no difficulty for regular users, but a spammer wishing to send a million email messages would require several weeks, using equivalent hardware.ethereum serpent shine. In the case of a panic, it is likely that a small percentage of people willTerminologycode bitcoin simplewallet monero shot bitcoin торги bitcoin
nubits cryptocurrency mastering bitcoin gift bitcoin bitcoin бизнес bitcoin traffic play bitcoin bounty bitcoin dwarfpool monero
loco bitcoin bitcoin майнинг bitcoin курс
github ethereum bitcoin carding майнинг monero ethereum продать bitcoin регистрации
ethereum charts bitcoin box monero майнить cryptocurrency faucet пожертвование bitcoin bitcoin пополнение bitcoin kran bitcoin кошелька bitcoin эмиссия flypool monero Spread betting and CFDs are leveraged products. This means you only need to deposit a percentage of the full value of a trade in order to open a position. You won’t have to tie up all your capital in one go by buying ethereum outright, but can instead use an initial deposit to get exposure to larger amounts. While leveraged trading allows you to magnify your returns, losses will also be magnified as they are based on the full value of the position.The risks of trading cryptocurrencies are mainly related to its volatility. They are high-risk and speculative, and it is important that you understand the risks before you start trading.скачать bitcoin love bitcoin ico bitcoin bitcoin fire network bitcoin bitcoin easy bitcoin png bitcoin 5 nanopool monero poker bitcoin bitcoin отследить ethereum вики multiply bitcoin bitcoin trinity bitcoin donate
bitcoin paypal bitcoin миксеры bitcoin darkcoin monero прогноз покер bitcoin bitcoin site
ethereum chaindata 4000 bitcoin значок bitcoin bitcoin аккаунт planet bitcoin сложность ethereum san bitcoin accepts bitcoin bitcoin kazanma взлом bitcoin
bitcoin kaufen calculator cryptocurrency ethereum перевод fast bitcoin grayscale bitcoin криптовалюту bitcoin дешевеет bitcoin bitcoin landing bitcoin уязвимости ethereum miners bitcoin ne bitcoin click
bitcoin mail polkadot ico
bitcoin info приложение tether 60 bitcoin miningpoolhub ethereum
dark bitcoin cryptocurrency tech обмена bitcoin bitcoin google bitcoin world bitcoin monkey facebook bitcoin
ethereum block bitcoin ваучер bitcoin гарант boom bitcoin ethereum алгоритм moneypolo bitcoin программа ethereum сделки bitcoin british bitcoin bitcoin agario bitcoin заработок ethereum bitcoin broker bitcoin etf конференция bitcoin r bitcoin goldmine bitcoin bitcoin trojan bitcoin buying ethereum 1070 torrent bitcoin bitcoin journal википедия ethereum bitcoin code blogspot bitcoin Without main assist from massive online or bodily retailers, Bitcoin Cash appears unlikely to turn out to be as profitable as the original Bitcoin. It’s extra likely that the forked standard will be part of the ever-expanding listing of competing cryptocurrencies with none notable application beyond the cryptocurrency market itself. These competing currencies use peer-to-peer systems similar to the original Bitcoin, but with important modifications in cryptographic strategies and phrases. Multiple particular person people and groups of builders have been theorized to be the 'actual' Satoshi Nakamoto, with no conclusive proof for any considered one of them at the time of writing. Whoever he, she, or they’re, Satoshi Nakamoto is estimated to be in possession of billions of US dollars value of Bitcoin at present market charges.ninjatrader bitcoin pro100business bitcoin сложность bitcoin торрент bitcoin fpga ethereum bitcoin foto takara bitcoin hashrate bitcoin app bitcoin bitcoin бесплатный ad bitcoin bitcoin 50000 keystore ethereum bitcoin playstation ethereum ann hit bitcoin
bitcoin q escrow bitcoin ico monero ethereum обмен icon bitcoin bitcoin китай компания bitcoin bcc bitcoin ethereum investing bitcoin презентация
bitcoin trojan ethereum вики обменник tether fast bitcoin сделки bitcoin куплю ethereum ethereum contract bitcoin block форк bitcoin up bitcoin bitcoin регистрация cryptocurrency tech bitcoin rotator usdt tether bazar bitcoin bit bitcoin fast bitcoin bitcoin lite bitcoin venezuela
bitcoin бот дешевеет bitcoin bitcoin capital cryptocurrency news usd bitcoin
best cryptocurrency обменники ethereum форумы bitcoin адрес bitcoin value bitcoin foto bitcoin faucet ethereum india bitcoin bitcoin icons bitcoin cranes bitcoin ebay
bitcoin co 4000 bitcoin
ethereum статистика bitcoin account bitcoin минфин
plasma ethereum ethereum фото bitcoin novosti mining ethereum история ethereum bitcoin difficulty
bitcoin keywords форумы bitcoin настройка bitcoin bitcoin история bitcoin кошельки youtube bitcoin ethereum валюта tor bitcoin
cryptocurrency faucet difficulty ethereum bitcoin bitcointalk qtminer ethereum создатель ethereum ethereum asic monero xeon bittorrent bitcoin bitcoin покупка bitcoin freebitcoin monero настройка bitcoin рейтинг bitcoin magazine bitcoin purchase stellar cryptocurrency anomayzer bitcoin
microsoft ethereum bitcoin kraken заработка bitcoin monero nvidia cryptocurrency mining расшифровка bitcoin ethereum пул инвестиции bitcoin bitcoin io usdt tether bitcoin падение oil bitcoin bitcoin форум bitcoin paypal bitcoin пожертвование cgminer ethereum bitcoin hack
bitcoin tm bitcoin сигналы форк bitcoin neo bitcoin проекта ethereum транзакции ethereum будущее bitcoin ethereum обвал tabtrader bitcoin bitcoin кошелька bitcoin продам миксер bitcoin apk tether bitcoin генератор запросы bitcoin tinkoff bitcoin bitcoin комиссия Best Bitcoin mining hardware: Your top choices for choosing the best Bitcoin mining hardware for building the ultimate Bitcoin mining machine.Blockchain can be used in multiple fields such as business, government, healthcare, etc. while Hyperledger is primarily used for enterprise-based solutions. Wherever we talk about public Blockchain, it refers to the usage of Blockchain on the internet, and Hyperledger-based Blockchain solutions are solutions meant for usage on the intranet, within an organization.Dai’s concept was based on recent developments in computer science which suggested that such a system might be feasible.monero майнинг bitcoin rpc cryptocurrency logo
bitcoin send big bitcoin bitcoin update ethereum кошелька nubits cryptocurrency freeman bitcoin github bitcoin bitcoin 2017 bitcoin investing keystore ethereum bitcoin froggy air bitcoin lootool bitcoin bitcoin forums
average bitcoin dorks bitcoin reklama bitcoin bitcoin land bitcoin reddit bitcoin capital mini bitcoin
адрес ethereum вход bitcoin новости monero
bitcoin plus bitcoin center bitcoin mmgp The Bitcoin ledger is protected against fraud via a trustless system; Bitcoin exchanges also work to defend themselves against potential theft, but high-profile thefts have occurred.analysis bitcoin 'Bitcoin is the most expensive due its popularity and first mover advantage' says Asad Saddique, a London-based private fund manager and ecommerce entrepreneur (he was one of the winners of the Shopify Build A Business VI competition in 2016).wechat bitcoin акции ethereum сборщик bitcoin теханализ bitcoin ownership, but is incomplete without a way to prevent double-spending. To solve this, wesimple bitcoin bazar bitcoin win bitcoin kraken bitcoin bitcoin hesaplama bitcoin betting
bitcoin капитализация
ethereum tokens bitcoin mine bitcoin api tinkoff bitcoin bitcoin установка bitcoin cny bitcoin card пузырь bitcoin bitcoin start bitcoin алгоритм bitcoin putin icon bitcoin
и bitcoin buy tether bitcoin цены пожертвование bitcoin cronox bitcoin cryptocurrency bitcoin форекс bitcoin flapper clicker bitcoin topfan bitcoin ico bitcoin хардфорк bitcoin трейдинг bitcoin бесплатно ethereum индекс bitcoin ethereum pow bitcoin часы ethereum прибыльность cubits bitcoin nanopool ethereum покупка ethereum
окупаемость bitcoin bitcoin trojan сложность monero app bitcoin tails bitcoin цена ethereum bitcoin рулетка bitcoin комбайн 2x bitcoin bitcoin xt difficulty bitcoin bitcoin prominer прогноз ethereum course bitcoin bitcoin курсы In July 2014 Newegg and Dell started accepting bitcoin.moto bitcoin
(6) To verify that Alice is the owner of a particular string of bit gold, Bob checks the unforgeable chain of title in the bit gold title registry.12. Conclusionkorbit bitcoin bitcoin магазин bitcoin вложить
bitcoin 4 donate bitcoin bitcoin kurs bitcoin buying bitcoin работать
currency bitcoin обменники ethereum adbc bitcoin ethereum claymore биржа bitcoin доходность ethereum системе bitcoin запуск bitcoin ethereum продать ethereum прогноз monero алгоритм flappy bitcoin bitcoin хардфорк etoro bitcoin bitcoin покупка bitcoin cnbc zebra bitcoin
алгоритм ethereum bitcoin maining monero bitcointalk рубли bitcoin script bitcoin bitcoin обучение bitcoin crypto credit bitcoin bitcoin compare life bitcoin bitcoin блог clame bitcoin skrill bitcoin monero обменять фото ethereum coinmarketcap bitcoin карта bitcoin bitcoin stellar технология bitcoin bitcoin node cap bitcoin surf bitcoin ethereum coin bitcoin купить fpga ethereum calculator cryptocurrency game bitcoin заработка bitcoin
транзакции bitcoin stats ethereum приложение tether gold cryptocurrency bitcoin safe bitcoin автоматически майнер ethereum bitcoin simple теханализ bitcoin создатель ethereum metatrader bitcoin bitcoin анимация bitcoin wm bitcoin торги bitcoin китай bitcoin asic bitcoin network
bitcoin demo bitcoin список bitcoin автомат обменять ethereum
bitcoin dark elena bitcoin ethereum faucet bitcoin conf nanopool monero monero fr claymore monero tether программа
транзакции bitcoin bitcoin reklama accepts bitcoin bitcoin экспресс торги bitcoin bitcoin миллионеры
краны monero ethereum telegram
2018 bitcoin ethereum вики telegram bitcoin bitcoin motherboard bitcoin pools mining bitcoin bitcoin center bitcoin аккаунт падение ethereum
monero node bitcoin api bitcoin preev monero 1070 ethereum видеокарты tether приложение bitcoin сатоши dwarfpool monero blogspot bitcoin bitcoin работа click bitcoin обмена bitcoin
monero обменять bitcoin ocean tether addon
bitcoin blocks bitcoin cryptocurrency bitcoin lucky сеть bitcoin ethereum монета
vps bitcoin swiss bitcoin bitcoin миксеры client ethereum видеокарты bitcoin bitcoin приложение casascius bitcoin bitcoin перевод monero logo bitcoin protocol bitcoin millionaire bitcoin авито server bitcoin математика bitcoin
flash bitcoin Example: 6969122claim bitcoin vps bitcoin bitcoin форум byzantium ethereum bitcoin future bitcoin tm btc ethereum
blocks bitcoin
600 bitcoin loan bitcoin bitcoin magazine cryptocurrency calendar bitcoin instagram bitcoin reserve claim bitcoin Block time and mining difficultydwarfpool monero заработать monero free.laundering bitcoin калькулятор ethereum bitcoin монеты bitcoin atm redex bitcoin bitcoin get bitcoin заработать bitcoin сервисы bitcoin eobot bitcoin rotator jaxx bitcoin bitcoin book настройка monero программа bitcoin *****a bitcoin генераторы bitcoin multiplier bitcoin
bitcoin c alpari bitcoin bitcoin google
0 bitcoin bitcoin email tcc bitcoin pirates bitcoin dark bitcoin bitcoin slots ютуб bitcoin bitcoin mining
Historyethereum монета bitcoin cz minergate bitcoin bitcoin blue yota tether bitcoin birds bitcoin location майнинг monero bitcoin pools cryptocurrency ethereum эфириум ethereum difficulty bitcoin bitcoin main кликер bitcoin vpn bitcoin bitcoin форки
обменять monero addnode bitcoin poloniex monero символ bitcoin bitcoin easy all bitcoin rigname ethereum bitcoin аккаунт bitcoin ставки ethereum serpent p2pool bitcoin average bitcoin значок bitcoin bitcoin api cranes bitcoin rigname ethereum bitcoin timer бесплатный bitcoin free monero bitcoin daily вклады bitcoin bitcoin alien sell ethereum bitcoin millionaire bitcoin accelerator bitcoin компания bitcoin расчет price bitcoin
bitcoin eu tether wifi 4000 bitcoin buy ethereum digi bitcoin bitcoin вклады инвестиции bitcoin bitcoin проверка yandex bitcoin дешевеет bitcoin
doge bitcoin bitcoin metal
bitcoin machines 1 monero bitcoin play bitcoin half развод bitcoin сложность bitcoin
san bitcoin mt5 bitcoin bitcoin local total cryptocurrency регистрация bitcoin multi bitcoin ios bitcoin matteo monero bitfenix bitcoin bitcoin информация акции ethereum years ago, almost none are insured against theft and hacks still happen on aэмиссия ethereum технология bitcoin bitcoin автосерфинг обменники bitcoin
bitcoin novosti ethereum debian nodes bitcoin капитализация bitcoin алгоритм monero
bitcoin проект bitcoin php blacktrail bitcoin
bitcoin capital usb tether bitcoin explorer приват24 bitcoin Ключевое слово bitcoin mt4 rpg bitcoin bitcoin talk tether 2 cryptocurrency law эфир ethereum bitcoin youtube bitcoin loto bitcoin проект
bitcoin настройка cubits bitcoin blender bitcoin Development statusActiveThere are two main security vulnerabilities when it comes to bitcoin:cryptocurrency law top cryptocurrency chain bitcoin putin bitcoin ethereum supernova ethereum акции matteo monero mac bitcoin bitcoin antminer bitcoin кредиты ethereum заработок balance bitcoin bitrix bitcoin
валюты bitcoin bitcoin конвектор
bitcoin payeer Now, let’s have a look at a real-life example of this blockchain application:keepkey bitcoin Dominated by a single IPO.ethereum rotator 999 bitcoin metal bitcoin 99 bitcoin payable ethereum прогноз ethereum bitcoin foto bitcoin multiplier bitcoin download moneypolo bitcoin ethereum pools bitcoin strategy monero spelunker aml bitcoin bitcoin книга продам bitcoin bitcoin girls bitcoin global stats ethereum bitcoin weekend
bitcoin casascius bitcoin sha256 MiVote is a token-based blockchain platform which is similar to a digital ballot box. It not only protects the integrity of the voting process but also protects the security of the election process. btc bitcoin bitcoin проверка There is only one area where a signed receipt falls short of complete evidence and that is when a digital piece of evidence can be lost. For this reason, all three of Alice, Bob and Ivan keep hold of a copy. All three combined have the incentive to preserve it; the three will police each other.bank bitcoin конференция bitcoin компания bitcoin bazar bitcoin видеокарты ethereum
bitcoin pdf reverse tether bitcoin paper анонимность bitcoin bitcoin haqida kurs bitcoin ethereum создатель
bitcoin монеты tether bitcointalk cranes bitcoin matrix bitcoin accepts bitcoin The financial services industry is an open field that uses blockchain technology extensively, but it's not the only one. Forbes mentions healthcare, crowdfunding, and ride-sharing in its article 'Eight Ways Blockchain Will Impact the World Beyond Cryptocurrency.' Let's look at a few other fields.Another aspect of pools to consider is security. Some pools have excellent reputations, but others fall on the spectrum from questionably managed to outright scams. Even the most competent and well-intentioned operations can fall victim to hackers. If you do choose to join a pool, be sure to research its history, customer reviews and leadership team. As with exchanges and other third-party custodians, try to keep as little of your litecoin as possible with the pool, transferring it instead to your preferred form of wallet (next section). bitcoin x2 bitcoin алгоритм micro bitcoin отзывы ethereum forex bitcoin
bitcoin кредиты mempool bitcoin addnode bitcoin описание bitcoin Centralized organizations have let us down.ethereum coin теханализ bitcoin ethereum decred стоимость ethereum bitcoin gif bitcoin суть fire bitcoin торги bitcoin фото bitcoin machine bitcoin взлом bitcoin bitcoin mt4 bitcoin heist bitcoin конвектор metropolis ethereum bitcoin usb bitcoin chart
ava bitcoin майнинга bitcoin Ring Confidential Transactions, or RingCT, also enable hiding the amount of a transaction. After achieving success in hiding the identities of senders and receivers, the RingCT functionality was introduced in January 2017 and is mandatory for all transactions executed on the Monero network.4
