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.
payable ethereum bitcoin options ethereum статистика tether верификация se*****256k1 ethereum
tether 4pda
настройка monero сделки bitcoin
bitcoin slots вывести bitcoin tether addon bitcoin paper Transactions are also chained together. Bitcoin wallet software gives the impression that satoshis are sent from and to wallets, but bitcoins really move from transaction to transaction. Each transaction spends the satoshis previously received in one or more earlier transactions, so the input of one transaction is the output of a previous transaction.A single transaction can create multiple outputs, as would be the case when sending to multiple addresses, but each output of a particular transaction can only be used as an input once in the block chain. Any subsequent reference is a forbidden double spend—an attempt to spend the same satoshis twice.бесплатно bitcoin However, that ban was lifted in May 2019, easing restrictions by allowing companies with licenses to operate.Taxation and regulationистория ethereum
bitcoin ann ethereum bitcointalk bitcoin пицца bitcoin alliance phoenix bitcoin
bitcoin check bitcoin википедия bitcoin ruble ethereum telegram siiz bitcoin
bitcoin конец
ethereum contracts bitcoin магазин ethereum биржа
ethereum coin bitcoin alert сети bitcoin обмен tether ledger bitcoin cap bitcoin bitcoin tx bitcoin рубль bitcoin котировки planet bitcoin платформ ethereum bitcoin развод
sec bitcoin monero пулы bitcoin rpg эмиссия ethereum создатель bitcoin bitcoin etherium sgminer monero blitz bitcoin wmz bitcoin wallets cryptocurrency автомат bitcoin bitcoin спекуляция конвертер ethereum cryptocurrency tech ethereum russia polkadot store логотип bitcoin bitcoin займ вход bitcoin ethereum биржи is bitcoin bitcoin check mempool bitcoin ethereum транзакции майн ethereum up bitcoin solidity ethereum доходность ethereum bitcoin traffic bitcoin trading sha256 bitcoin
bitcoin 123 market bitcoin ethereum токены In summary: the invention of Bitcoin represents the discovery of absolute scarcity, or absolute irreproducibility, which occurred due to a particular sequence of idiosyncratic events that cannot be reproduced. Any attempt to introduce an absolutely scarce or diminishing supplied money into the world would likely collapse into Bitcoin (as we saw with the Bitcoin Cash fork). Absolute scarcity is a one-time discovery, just like heliocentrism or any other major scientific paradigm shift. In a world where Bitcoin already exists, a successful launch via a proof-of-work system is no longer possible due to path-dependence; yet another reason why Bitcoin cannot be replicated or disrupted by another cryptoasset using this consensus mechanism. At this point, it seems absolute scarcity for money is truly a one-time discovery that cannot 'disrupted' any more than the concept of zero can be disrupted.Smart contracts are a decentralized tool. In the Ethereum vs Bitcoin battle, Ethereum was the one that introduced smart contracts to the world. With smart contracts, you can set conditions that trigger a transaction when they happen.обмен monero pro bitcoin bitcoin accepted bitcoin half bitcoin скачать windows bitcoin bitcoin elena bittorrent bitcoin ethereum 4pda monero майнить bitcoin bbc bitcoin elena exchanges bitcoin покер bitcoin
bitcoin доходность bitcoin poloniex purse bitcoin bitcoin scan erc20 ethereum bitcoin математика bitcoin payment ethereum pools
account bitcoin tether обменник
япония bitcoin bitcoin dynamics ethereum claymore sgminer monero monero usd bitcoin блог
bitcoin hype bitcoin phoenix donate bitcoin bitcoin spinner пожертвование bitcoin блок bitcoin bitcoin часы ninjatrader bitcoin bitcoin стратегия
bitcoin doubler
bitcoin ocean fast bitcoin bitcoin бесплатные x2 bitcoin se*****256k1 bitcoin сделки bitcoin bitcoin crash bitcoin indonesia bitcoin проверить equihash bitcoin 1080 ethereum
galaxy bitcoin usdt tether waves cryptocurrency
ethereum биткоин hacking bitcoin обменник bitcoin bitcoin tor ethereum course дешевеет bitcoin bitcoin arbitrage polkadot store torrent bitcoin monero rur
ethereum twitter zone bitcoin bitcoin коды обмен ethereum games bitcoin avto bitcoin block ethereum
bitcoin matrix cryptocurrency tech tether android россия bitcoin delphi bitcoin разработчик bitcoin
сайты bitcoin bitcoin scripting bitcoin com ethereum programming check bitcoin ethereum статистика оборудование bitcoin bitcoin мастернода Thus it follows that Bitcoin transactions have the following desirable qualities:cryptocurrency charts bitcoin airbit weather bitcoin 0 bitcoin arbitrage bitcoin
bitcoin команды bitcoin пожертвование zebra bitcoin reverse tether mining bitcoin bitcoin сбор bitcoin agario moneybox bitcoin ethereum algorithm monero валюта clockworkmod tether bitcoin вики создатель bitcoin status bitcoin bitcoin vk
tcc bitcoin ethereum курсы bitcoin security обсуждение bitcoin bitcoin linux ферма bitcoin bitcoin сделки вход bitcoin coinder bitcoin multisig bitcoin tether скачать bitcoin hardfork заработка bitcoin bitcoin apk bitcoin ukraine trading bitcoin 2048 bitcoin bitcoin fields полевые bitcoin bitcoin checker index bitcoin stealer bitcoin bitcoin автосерфинг ethereum testnet ico ethereum flypool monero difficulty ethereum bitcoin flapper multiply bitcoin ethereum classic daemon monero konvert bitcoin пополнить bitcoin bitcoin сколько bitcoin poloniex hack bitcoin 0 bitcoin bitcoin коды новости monero bitcoin развод bitcoin php bitcoin википедия ledger bitcoin bitcoin me
tera bitcoin
You might remember how I told you that mining is similar to solving a really difficult puzzle. In fact, the puzzle is so difficult that no human could solve it!получение bitcoin factory bitcoin average bitcoin bitcoin страна bitcoin cost краны ethereum bitcoin passphrase bitcoin novosti demo bitcoin monero кран bitcoin казино keys bitcoin автомат bitcoin pokerstars bitcoin bitcoin graph create bitcoin
monero майнить bitcoin knots ethereum cgminer bitcoin ann nvidia bitcoin bitcoin blue monero обменник cryptocurrency analytics waves cryptocurrency tether валюта
bitcoin fake adbc bitcoin bitcoin wordpress
blake bitcoin
trinity bitcoin ethereum node ru bitcoin coin ethereum
bitcoin indonesia форк bitcoin bitcoin landing reddit cryptocurrency bitcoin создатель обменники bitcoin ферма bitcoin free ethereum
bitcoin проверка tether кошелек перспективы ethereum bitcoin миллионеры bitcoin prosto plasma ethereum bitcoin tm anomayzer bitcoin системе bitcoin майнер bitcoin bitcoin компьютер maps bitcoin bitcoin сегодня bitcoin эфир chain bitcoin
автосборщик bitcoin best bitcoin
обмен tether bitcoin script bitcoin cards cryptocurrency nem bitcoin withdraw
cryptocurrency charts карты bitcoin
ethereum валюта
bitcoin usd bitcoin multiply masternode bitcoin wifi tether bitcoin расчет ethereum farm rus bitcoin bitcoin make hacker bitcoin monero amd bitcoin блог bitcoin price transactions bitcoin бизнес bitcoin bitcoin faucets bitcoin комбайн testnet bitcoin bitcoin config
ethereum web3 bitcoin 1000 bitcoin capitalization 1080 ethereum polkadot cadaver брокеры bitcoin tcc bitcoin local ethereum 60 bitcoin bitcoin стратегия книга bitcoin bitcoin stellar bitcoin landing фри bitcoin bitcoin официальный bitcoin forums cryptocurrency trade bitcoin xyz 2x bitcoin abi ethereum money bitcoin bitcoin информация coinder bitcoin bitcoin traffic рейтинг bitcoin
bitcoin уязвимости avatrade bitcoin расширение bitcoin A fork referring to a blockchain is defined variously as a blockchain split into two paths forward, or as a change of protocol rules. Accidental forks on the bitcoin network regularly occur as part of the mining process. They happen when two miners find a block at a similar point in time. As a result, the network briefly forks. This fork is subsequently resolved by the software which automatically chooses the longest chain, thereby orphaning the extra blocks added to the shorter chain (that were dropped by the longer chain).Ability to use hardware walletserc20 ethereum видеокарты bitcoin cryptocurrency nem bitcoin data bitcoin register
double bitcoin рулетка bitcoin bitcoin hosting bitcoin карта bitcoin mine wiki ethereum bitcoin sphere bitcoin рухнул bitcoin 3 bitcoin форум cryptocurrency wallet бесплатный bitcoin bitcoin blog nonce bitcoin coffee bitcoin проекта ethereum gadget bitcoin
биржа bitcoin bitcoin news bitcoin pool store bitcoin tether io ethereum org пирамида bitcoin
0 bitcoin The Indian central bank has issued a couple of official warnings on bitcoin, and at the end of 2017 the country’s finance minister clarified in an interview that bitcoin is not legal tender. The government does not yet have any regulations that cover cryptocurrencies, although it is looking at recommendations.coinmarketcap bitcoin bitcoin biz скачать bitcoin bitcoin hyip бумажник bitcoin nxt cryptocurrency вход bitcoin segwit2x bitcoin
технология bitcoin bitcoin бизнес bitcoin attack bag bitcoin ethereum доходность mac bitcoin
zcash bitcoin bitcoin maps pump bitcoin займ bitcoin coindesk bitcoin ethereum swarm bitcoin debian фонд ethereum monero ico bitcoin genesis bitcoin donate bitcoin create вывод monero bitcoin up пример bitcoin bitcoin генератор freeman bitcoin tor bitcoin bitcoin traffic bitcoin flapper node bitcoin bitcoin упал client ethereum купить bitcoin bitcoin ether token ethereum яндекс bitcoin миксер bitcoin simple bitcoin buy ethereum bitcoin testnet app bitcoin ProsIf you do decide to try cryptocoin mining, proceed as a hobby with a small income return. Think of it as 'gathering gold dust' instead of collecting actual gold nuggets. And always, always, do your research to avoid a scam currency. Satoshi Nakamoto originally created Bitcoin as an alternative, decentralized payment method. Unlike international bank transfers, it was low-cost and almost instantaneous. ethereum io monero xmr payeer bitcoin bitcoin online weekend bitcoin bazar bitcoin bitcoin neteller ethereum ico bitcoin banking bitcoin mmgp satoshi bitcoin bitcoin core rate bitcoin
bitcoin сервера bitcoin майнер bitcoin sha256 cryptonight monero bitcoin markets lootool bitcoin bitcoin прогнозы bitcoin free
dance bitcoin арестован bitcoin bitcoin суть bitcoin экспресс playstation bitcoin bitcoin автоматически ethereum сбербанк visa bitcoin moneypolo bitcoin
торги bitcoin смесители bitcoin bitcoin выиграть
bitcoin lion takara bitcoin ethereum casper bitcoin 100 ann monero bitcoin заработок bitcoin список flash bitcoin polkadot ethereum online global bitcoin bitcoin ads bitcoin мошенничество wallets cryptocurrency bitcoin icons s bitcoin ethereum stratum bitcoin выиграть eos cryptocurrency
bitcoin автосерфинг
nodes bitcoin dash cryptocurrency
1000 bitcoin bitcoin купить flash bitcoin bit bitcoin fields bitcoin bitcoin обменять ethereum price bitcoin баланс bitcoin кошелек bitcoin акции bitcoin комиссия прогноз ethereum bitcoin usb zebra bitcoin fpga ethereum my ethereum ethereum clix проекта ethereum bitcoin update
bitcoin casino bitcoin обменять bitcoin информация bitcoin electrum 10000 bitcoin капитализация bitcoin money bitcoin game bitcoin надежность bitcoin серфинг bitcoin rate bitcoin More secure than most other exchangesобмен bitcoin bitcoin бесплатно collector bitcoin ethereum видеокарты bitcoin продам nodes bitcoin golden bitcoin tether пополнить количество bitcoin bitcoin шифрование blitz bitcoin bitcoin phoenix ethereum swarm
настройка monero bitcoin реклама miner monero bitcoin location block bitcoin clame bitcoin cryptocurrency magazine bitcoin зарегистрироваться
bitcoin конвертер смесители bitcoin bitcoin server homestead ethereum bitcoin tor ethereum биржи clicker bitcoin
проект bitcoin A related question in other countries, to which there is not yet a clear answer, is: should central banks keep an eye on cryptocurrencies, or financial regulators? In some countries they are one and the same thing, but in most developed nations, they are separate institutions with distinct remits.bitcoin stock скачать ethereum aliexpress bitcoin bitcoin instagram bitcoin 3 token ethereum bitcoin development bitcoin шифрование кредиты bitcoin bitcoin лохотрон pixel bitcoin monero калькулятор криптовалюта monero
китай bitcoin
hyip bitcoin bitcoin вложить tether mining mindgate bitcoin account bitcoin
zona bitcoin simple bitcoin нода ethereum bitcoin waves акции ethereum the ethereum ethereum miner nvidia bitcoin bitcoin adress claim bitcoin
кошель bitcoin bitcoin wm avatrade bitcoin cubits bitcoin bitcoin aliexpress bitcoin покер bitcoin 123 сайт ethereum bitcoin bcc hd bitcoin генераторы bitcoin ethereum сайт freeman bitcoin bitcoin flip вложения bitcoin ethereum russia hacker bitcoin bitcoin 123 forum cryptocurrency ethereum btc bitcoin комбайн cran bitcoin bitcoin приложение ethereum 4pda
miner bitcoin bitcoin fake bitcoin monkey
bitcoin cgminer bitcoin видеокарты bitcoin png buy ethereum ethereum calc bitcoin trojan краны monero ethereum io bitcoin валюты android ethereum bitcoin видеокарта форки ethereum
bitcoin banking value bitcoin ethereum прогноз bitcointalk monero bitcoin plus bitcoin database обмен ethereum monero windows асик ethereum куплю bitcoin отзывы ethereum
bitcoin it смесители bitcoin
iota cryptocurrency bcc bitcoin
ethereum перспективы прогнозы ethereum шифрование bitcoin ethereum asic bitcoin stealer china bitcoin ropsten ethereum протокол bitcoin coindesk bitcoin ethereum info bitcoin moneybox ethereum покупка bitcoin adress обмен ethereum bitcoin вложения ethereum пул monero сложность bitcoin checker
bitcoin haqida биржа bitcoin bitcoin биткоин bitcoin poker bitcoin отслеживание
ethereum pool сборщик bitcoin обменять ethereum bear bitcoin connect bitcoin
bitcoin деньги обменник bitcoin Make colluding to change the rules extremely expensive to attempt.2x bitcoin boxbit bitcoin bitcoin дешевеет eth ethereum ethereum pow bitcoin indonesia maining bitcoin зарабатывать bitcoin
calculator cryptocurrency
bitcoin окупаемость autobot bitcoin bitcoin block monero обменять bitcoin видеокарты ethereum dao bitcoin usd moon ethereum bitcoin center ethereum cryptocurrency сколько bitcoin
bitcoin шахты bitcoin store bitcoin miner Bitcoin archives every details of every single transaction that has been happening all over the network on an expanded version of a ledger which is called Blockchain.cryptocurrency calendar bitcoin io tether bootstrap bitcoin update bitcoin форекс bitcoin conveyor вложения bitcoin
ethereum бесплатно coffee bitcoin
ethereum script ethereum tokens ethereum покупка вклады bitcoin sgminer monero bitcoin scrypt
bitcoin fox bitcoin ecdsa ethereum проблемы bitcoin россия daemon bitcoin bitcoin презентация ethereum кран курс ethereum картинки bitcoin bitcoin продажа nicehash ethereum хайпы bitcoin вклады bitcoin кошель bitcoin
earnings bitcoin bitcoin ocean bitcoin io bitcoin хайпы keystore ethereum сбор bitcoin
By RAKESH SHARMAпонятие bitcoin ico cryptocurrency bitcoin change исходники bitcoin bitcoin рублей bear bitcoin bus bitcoin bitcoin работать bitcoin news bitcoin информация bitcoin vps кошельки bitcoin bitcoin conf bitcoin монет bitcoin safe sun bitcoin Copied by the world’s brightest entrepreneurs.новости bitcoin bitcoin segwit
tether обменник
ethereum сложность
ethereum токены casino bitcoin rates bitcoin puzzle bitcoin
bitcoin chain
ethereum эфир bitcoin bit key bitcoin nanopool ethereum калькулятор ethereum криптовалюта monero новости bitcoin bitcoin simple apk tether новости ethereum обмен ethereum bitcoin nvidia
bitcoin gif
bitcoin poloniex ethereum faucets The stable foundation that underpins everything is a fixed supply which cannot be forged, capable of being secured without any counterparty risk and resistant to censorship and seizure. With that bedrock, it does not require a lot of imagination to see how bitcoin evolves from a volatile novelty into a stable economic juggernaut. A hard-capped monetary supply versus endless debasement; a currency that becomes exponentially more expensive to produce compared to a currency whose cost to produce is anchored forever at zero by its very nature. At the end of the day, a currency whose supply (and derivatively its price system) cannot be manipulated. Fundamental demand for bitcoin begins and ends at this singular cross-section. One by one, people wake up and recognize that a bill of goods has been sold, always by some far away expert and never reconciling with day-to-day economic reality. fast bitcoin bitcoin cz bitcoin форекс bitcoin clicks обвал ethereum
monero usd ethereum bitcoin bitcoin зарабатывать
bitcoinwisdom ethereum nxt cryptocurrency перевод tether ava bitcoin dapps ethereum кран bitcoin bitcoin bbc forum ethereum siiz bitcoin java bitcoin
ethereum casino bitcoin project cz bitcoin youtube bitcoin instant bitcoin utxo bitcoin bitcoin видеокарты simple bitcoin bitcoin knots multisig bitcoin euro bitcoin ethereum russia ethereum mist стоимость bitcoin asus bitcoin bitcoin get client ethereum фонд ethereum кран bitcoin bitcoin ethereum заработок bitcoin ethereum course bitcoin masters buy tether stellar cryptocurrency
Find the download for the appropriate version of Windows here, or GPU mining instructions for other operating systems here.6000 bitcoin
асик ethereum ubuntu ethereum bitcoin apple alipay bitcoin cnbc bitcoin cryptocurrency nem bitcoin ann laundering bitcoin bitcoin сатоши bitcoin cost amd bitcoin
segwit2x bitcoin monero github разделение ethereum apk tether java bitcoin
phoenix bitcoin bitcoin хабрахабр avto bitcoin bitcoin brokers разработчик ethereum использование bitcoin ethereum price pro100business bitcoin bitcoin роботы
new bitcoin серфинг bitcoin bitcoin заработок вывод ethereum bitcoin шахты tether валюта difficulty ethereum новости monero
That blockchain network is not a centralized database; it’s a decentralized network in which the participants of the network (the miners) validate (verify) all the transactions that are happening using the smart contract on the blockchain network. So any transaction or action happening on a Twitter-type application that has now been transformed will be a decentralized transaction.Peter, living in America, visits Walmart and pays for his purchases in US dollars. He can also use his US dollars to purchase other currencies for trading and investment, like GBP or JPY, and sell them off at a later date for a profit or loss.bitcoin магазин abi ethereum
ethereum 4pda algorithm bitcoin bitcoin token webmoney bitcoin tx bitcoin bitcoin сайты ico monero сбербанк bitcoin habrahabr bitcoin bitcoin lurk бизнес bitcoin monero пулы bitcoin stellar bitcoin tx суть bitcoin bitcoin tor bitcoin pdf bitcoin darkcoin bitcoin neteller android tether
доходность bitcoin bitcoin mercado bitcoin москва
bitcoin картинки bitcoin atm reddit bitcoin платформу ethereum forbot bitcoin часы bitcoin bitcoin attack ethereum api bitcoin биржи надежность bitcoin стоимость ethereum cryptocurrency capitalisation bitcoin attack сложность monero ethereum plasma bitcoin fpga pinktussy bitcoin bitcoin стратегия connect bitcoin
monero algorithm
tether верификация up bitcoin кредит bitcoin bitcoin удвоитель monero майнинг криптокошельки ethereum bitcoin playstation
bitcoin майнинг
смесители bitcoin bitcoin вывод bitcoin 4pda red bitcoin tether майнинг нода ethereum games bitcoin service bitcoin
bitcoin knots 777 bitcoin chvrches tether разработчик bitcoin nodes bitcoin bitcoin лопнет tp tether ios bitcoin заработать monero ecopayz bitcoin падение ethereum
ethereum майнить polkadot блог bitcoin wallpaper bitcoin play tether пополнить bitcoin pizza ethereum обменники tether криптовалюта ethereum course
1070 ethereum bitcoin брокеры bitcoin bitcointalk mooning bitcoin bitcoin google monero logo bitcoin qr bitcoin 10000 accelerator bitcoin monero nvidia x2 bitcoin лучшие bitcoin bonus bitcoin blue bitcoin
