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.
сложность ethereum bitcoin ru The main advantage of this is that you do not need to share the mining rewards with anyone else, meaning that you can make more money! Unlike pool mining (which I will explain below), you don’t need to pay any fees.ethereum go bitcoin x bitcoin перевод bear bitcoin bitcoin кошелька видео bitcoin аналоги bitcoin Finally, hacking is a big threat if you’re a crypto investor. Online exchanges permit you to trade your cryptos on mobile apps and websites, both of which expose you to hackers stealing all of your investment. And if someone gets their hands on your cryptocurrency, well, there's really nothing you can do about it.boxbit bitcoin сбербанк ethereum конвектор bitcoin client ethereum bitcoin home cryptocurrency 10000 bitcoin сколько bitcoin падение ethereum
bitcoin investing
mindgate bitcoin ethereum видеокарты bitcoin pps bitcoin trader куплю ethereum bitcoin captcha rate bitcoin
bitcoin markets bitcoin mine circle bitcoin адрес bitcoin card bitcoin dollar bitcoin zone bitcoin мастернода bitcoin bitcoin сигналы We mentioned earlier that while cryptocurrency mining isn’t illegal in some areas, in some places it is. As we mentioned earlier, governments globally have different viewpoints of cryptocurrencies in terms of crypto mining. Likely, some governments in different geographic locations even prohibit investing in or using cryptocurrencies as payment methods.Binance supports the deposit of more than 150 cryptocurrencies, several of which you can exchange for Litecoin at some of the best rates in the market.валюта tether tracker bitcoin bitcoin hashrate bitcoin майнеры
bitcoin twitter обменник ethereum wikipedia ethereum bitcoin aliexpress биржи monero plasma ethereum bitcoin machine bitcoin paper ethereum график ethereum com 0.099x the total amount sold will be maintained as a long-term reserve.bitcoin официальный bitcoin store super bitcoin bitcoin metal bitcoin converter bitcoin millionaire bitcoin vip api bitcoin tether gps bitcoin приложение tether addon яндекс bitcoin запросы bitcoin bitcoin tx алгоритм monero ethereum node remix ethereum bitcoin pdf eth ethereum cryptocurrency charts live bitcoin bitcoin динамика cryptocurrency charts bitcoin instaforex сервера bitcoin bitcoin анализ chaindata ethereum bitcoin tor куплю bitcoin txid ethereum bitcoin hacker
пицца bitcoin iso bitcoin carding bitcoin bitcoin кранов ethereum com birds bitcoin bitcoin войти bitcoin сборщик polkadot monero free bitcoin reserve config bitcoin bitcoin loto india bitcoin
сервисы bitcoin reddit cryptocurrency казино ethereum bitcoin like 0 bitcoin bitcoin click bitcoin cnbc bitcoin 15 bitcoin конвертер
freeman bitcoin bitcoin зарегистрировать bitcoin cgminer bitcoin haqida polkadot doubler bitcoin bitcoin flapper monero краны bistler bitcoin добыча bitcoin
kurs bitcoin xmr monero
credit bitcoin алгоритмы ethereum обменять monero ethereum supernova
ethereum перспективы A Guide to Becoming a Blockchain DeveloperDOWNLOAD NOWBlockchain Career Guidereward bitcoin кошельки ethereum bitcoin 3d bistler bitcoin monero hardware
bitcoin hacker bitcoin spinner bitcoin calculator hourly bitcoin bitcoin платформа fake bitcoin майн bitcoin ethereum ubuntu bitcoin stealer blogspot bitcoin ethereum ubuntu bitcoin робот machine bitcoin обменники bitcoin bitcoin конвертер
bitcoin cryptocurrency ethereum online
bag bitcoin bitcoin pattern monero hardfork сети ethereum bitcoin сатоши bitcoin darkcoin bitcoin demo nova bitcoin Supports more than 1,100 cryptocurrenciesротатор bitcoin bitcoin обозреватель bitcoin bbc best bitcoin bitcoin journal cryptocurrency market bitcoin окупаемость dao ethereum bitcoin loan bitcoin перспектива bye bitcoin cryptocurrency это
bitcoin wiki bitcoin payoneer epay bitcoin платформу ethereum monero usd bitcoin терминал bitcoin 2020 erc20 ethereum supernova ethereum flash bitcoin bitcoin nodes
wifi tether
bitcoin nachrichten bitcoin bbc claim bitcoin криптовалюту bitcoin bitcoin оборот flappy bitcoin bitcoin store bitcoin история робот bitcoin bitcoin io форумы bitcoin аналитика bitcoin bitcoin okpay bitcoin сатоши киа bitcoin шифрование bitcoin monero dwarfpool topfan bitcoin bitcoin лохотрон bitcoin captcha
600 bitcoin mt5 bitcoin connect bitcoin bitcoin вложения cubits bitcoin принимаем bitcoin bitcoin asics cryptocurrency calendar bitcoin чат my bitcoin bitcoin 4096 bitcoin conveyor mine monero Since the release of bitcoin, over 6,000 altcoins (alternative variants of bitcoin, or other cryptocurrencies) have been created.cryptocurrency gold bitcoin mempool reverse tether
bitcoin favicon widget bitcoin майнер monero
0 bitcoin мастернода bitcoin bitcoin reddit ethereum курсы monero cryptonight деньги bitcoin cryptocurrency reddit bitcoin алгоритм bitcoin forex ethereum algorithm ethereum краны bitcoin mmm bitcoin лого bitcoin перевод average bitcoin registration bitcoin A membership in an online mining pool, which is a community of miners who combine their computers to increase profitability and income stability.talk bitcoin nodes bitcoin jaxx monero bitcoin evolution rx470 monero bitcoin обозреватель падение ethereum bitcoin картинки best bitcoin bitcoin sportsbook price bitcoin bitcoin air обновление ethereum ethereum coingecko
ethereum хардфорк суть bitcoin сигналы bitcoin monero calculator bitcoin 2017 bitcoin сатоши bitcoin динамика favicon bitcoin bitcoin миллионеры bitcoin 10 ethereum эфир dash cryptocurrency bitcoin играть field bitcoin games bitcoin bitcoin расчет bitcoin перевести difficulty ethereum rigname ethereum mine ethereum or US Dollars, although it has made impressive strides over the past decade. We canmicrosoft ethereum
bitcoin ключи майнеры ethereum bitcoin department bitcoin linux
bitcoin mixer rigname ethereum bitcoin форки bitcoin reserve bitcoin grafik redex bitcoin day bitcoin bitcoin взлом калькулятор monero ubuntu bitcoin bitcoin bounty bitcoin фильм cryptocurrency calendar bitcoin greenaddress bitcoin ротатор
tether комиссии fasterclick bitcoin bitcoin people Smart contract (backend code)bitcoin прогноз After all, what power would the Zimbabwe government have if its people had had Bitcoin in their communities — money they could hide and spend via cell phones and email accounts. What cause would there be in Greece to riot at the ECB mandates when the country can abandon the euro in favor of a money that each of them controls unto themselves. And from where would the US get the resources to deficit-finance its wars and welfare programs when it no longer has the ability to print money and pay back debt with debased currency? Like a gold standard, Bitcoin shackles a government and forces it to subsist only on what it can tax openly and legitimately borrow, but unlike a gold standard, Bitcoin doesn’t require any official status to become a standard. The market can arrive at the standard sans government approval, again because it works elegantly both for storage and transfer and it cannot be stopped because it exists in decentralized form.x2 bitcoin mac bitcoin эпоха ethereum инструмент bitcoin lucky bitcoin bitcoin mac заработок bitcoin работа bitcoin ethereum вики bitcoin com zebra bitcoin cryptocurrency bitcoin сбербанк ethereum пузырь bitcoin The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and the media. The FBI prepared an intelligence assessment, the SEC has issued a pointed warning about investment schemes using virtual currencies, and the U.S. Senate held a hearing on virtual currencies in November 2013.More coherent approaches to treating puzzle solutions as cash are found in two essays that preceded bit-coin, describing ideas called b-money13 and bit gold43 respectively. These proposals offer timestamping services that sign off on the creation (through proof of work) of money, and once money is created, they sign off on transfers. If disagreement about the ledger occurs among the servers or nodes, however, there isn't a clear way to resolve it. Letting the majority decide seems to be implicit in both authors' writings, but because of the Sybil problem, these mechanisms are not very secure, unless there is a gatekeeper who controls entry into the network or Sybil resistance is itself achieved with proof of work.On the other hand, technologists –- nerds — are transfixed by it. They see within it enormous potential and spend their nights and weekends tinkering with it.алгоритмы ethereum ethereum coin wild bitcoin ethereum сайт deep bitcoin 1070 ethereum bitcoin китай bitcoin прогноз microsoft ethereum
pos bitcoin hash bitcoin
hacker bitcoin bitcoin blue bitcoin plus cryptocurrency tech кошель bitcoin Is actively shrinking in the number of full node operators and/or miners.Compatible hardware wallet: Trezorкраны monero ethereum валюта bitcoin rbc майнить bitcoin
agario bitcoin frontier ethereum sha256 bitcoin rbc bitcoin bitcoin q monero курс best bitcoin
ethereum монета bitcoin instaforex
claim bitcoin сделки bitcoin ethereum прогнозы bitcoin sberbank bitcoin minecraft bitcoin virus вложения bitcoin bitcoin скачать bitcoin spin торговать bitcoin 600 bitcoin bitcoin взлом bitcoin lion
mining bitcoin bitcoin rt
bitcoin main pools bitcoin кошелек bitcoin вывод ethereum портал bitcoin monero ico bitcoin окупаемость bitcoin redex zebra bitcoin Many investors make the mistake that real estate offers them a secure outlook, but history shows that in times of rising interest rates and a subsequent credit drought, housing prices can drop for years on end.10 Moreover,Benefits of working open allocationbitcoin project bitcoin коды carding bitcoin ethereum price bitcoin реклама bitcoin продам bitcoin окупаемость bitcoin song bitcoin faucets bitcoin сигналы
bitcoin cap bitcoin ann bitcoin express bounty bitcoin
blockchain ethereum bitcoin торги
bitcoin ann opencart bitcoin maps bitcoin
bitcoin banks хардфорк bitcoin dash cryptocurrency куплю ethereum bitcoin стратегия bitcoin вклады bitcoin видео криптовалюта tether 1000 bitcoin ethereum contracts wifi tether bitcoin msigna bitcoin center panda bitcoin uk bitcoin ethereum debian simplewallet monero конвертер bitcoin
bitcoin 4 смесители bitcoin bitcoin презентация happy bitcoin bitcoin conference
bitcoin alpari bitcoin scripting ethereum supernova fpga ethereum bitcoin daily кран monero accepts bitcoin bitcoin usd zcash bitcoin аналоги bitcoin ethereum калькулятор pplns monero форумы bitcoin uk bitcoin bitcoin cny 1070 ethereum ethereum майнер ethereum обменять ethereum адрес bitcoin land btc ethereum bitcoin cryptocurrency bitcoin darkcoin bitcoin network видео bitcoin bitcoin аналитика
обновление ethereum
ico monero
bitcoin blue сигналы bitcoin bitcoin blog
bitcoin ann bitcoin форекс bitcoin roulette bestexchange bitcoin search bitcoin mining bitcoin bitcoin crypto bitcoin multisig заработок ethereum ethereum stats ethereum faucet tether apk bitcoin обменники bitcoin banking bitcoin etf iso bitcoin кошелька ethereum cryptocurrency market bitcoin click bitcoin mail bitcoin криптовалюта electrum bitcoin валюта bitcoin bitcoin express takara bitcoin connect bitcoin polkadot bitcoin сети bitcoin алматы автосборщик bitcoin bitcoin scan пул bitcoin видеокарты ethereum яндекс bitcoin
cryptocurrency calendar miner bitcoin redex bitcoin bitcoin video bitcoin antminer bitcoin 10 bitcoin email bitcoin оборот bitcoin автомат bitcoin london
bitrix bitcoin ethereum mining king bitcoin up bitcoin кран monero bitcoin sportsbook tether приложения go ethereum bitcoin теханализ bitcoin knots ava bitcoin ethereum miner bitcoin de
bitcoin trading bitcoin алгоритм takara bitcoin bitcoin роботы
ethereum habrahabr bitcoin jp bitcoin вектор mine ethereum bitcoin 2018 bitcoin деньги карты bitcoin
взлом bitcoin short bitcoin poloniex monero часы bitcoin bitcoin таблица bitcoin roll
bitcoin capitalization bitcoin payeer
difficulty ethereum bitcoin knots ethereum crane bitcoin лого bitcoin bloomberg mine monero fpga bitcoin bitcoin таблица 