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.
bitcoin games bitcoin boom bitcoin future bitcoin prices
bitcoin minecraft
crypto bitcoin Hardware Wallet: A small device that is used to keep your private keys safe. Hardware wallets are for people who want to physically hold their bitcoins. Keep your hardware wallet wherever you want then connect the device to your computer when you need to spend some bitcoin. There is a small screen on the device to confirm your transaction details, then it sends the bitcoin payment without your private keys ever being on your computer. Hardware wallets cost about $100 which is cheap considering they allow you to safely store any amount of money and be your own bank. Hardware wallet example: KeepKey Trezor Ledger bitcoin pay япония bitcoin bitcoin валюты tether coin 'The point about zero is that we do not need to use it in the operations of daily life. No one goes out to buy zero fish. It is in a way the most civilized of all the cardinals, and its use is only forced on us by the needs of cultivated modes of thought.'bitcoin ne The trouble is, money as a highly localized form of communication, tied to local currencies, cultures, and values. If you’ve ever bought goods and services overseas, you know what it’s like to understand how 200 British pounds translates into U.S. dollars, or vice versa.Here’s a summary of what’s stored in each node:homestead ethereum
At its core, Ethereum is a transaction-based state machine. At any point in time, the state of Ethereum is represented by a Merkle tree, which maps account addresses and account states.The state of Ethereum is updated by the addition of each new block. Each block contains valid transactions and is linked to its previous block by its header.In simple words, a block contains a header and all valid transactions that are added.bitcoin foundation сколько bitcoin будущее bitcoin bitcoin вложения bitcoin автосерфинг cryptocurrency tech half bitcoin bitcoin income swarm ethereum bitcoin казино bitcoin buy форк bitcoin рост bitcoin
bitcoin котировка ethereum обменять bot bitcoin microsoft bitcoin x2 bitcoin bitcoin информация moneybox bitcoin ethereum покупка Theft and exchange shutdownsэмиссия bitcoin bitcoin airbit monero *****uminer pinktussy bitcoin bitcoin token bitcoin usd bitcoin компьютер bitcoin service bitcoin bitminer bitcoin окупаемость today bitcoin favicon bitcoin стратегия bitcoin ютуб bitcoin pinktussy bitcoin bitcoin explorer цена ethereum pool bitcoin Bitcoin is the global economic singularity: the ultimate monetary center of gravity — an exponential devourer of liquid value in the world economy, the epitome of time, and the zero-point of money.2016 bitcoin продам ethereum сша bitcoin bitcoin обменять addnode bitcoin платформа ethereum bitcoin халява bitcoin пожертвование bitcoin trojan bitcoin banks bitcoin pdf bitcoin central bitcoin книга продам bitcoin дешевеет bitcoin eos cryptocurrency node bitcoin bitcoin комиссия
bitcoin сколько bitrix bitcoin зарегистрироваться bitcoin bitcoin биткоин bitcoin demo майнинга bitcoin bitcoin переводчик cudaminer bitcoin kurs bitcoin
monero настройка pool monero
Working For Bitcoinsbitcoin куплю bitcoin компьютер In general, when people talk about Ethereum they mean the main public permissionless instance (version) of the network. However, like Bitcoin, you can take Ethereum software, modify it slightly and create private networks that aren’t connected to the main public network. The private tokens and smart contracts won’t be compatible with the public tokens though, for now. For more on the difference between public permissionless and private permissioned networks, see confused by blockchains? Revolution vs Evolutionперспективы bitcoin japan bitcoin аналитика bitcoin скрипты bitcoin flash bitcoin хардфорк monero redex bitcoin bitcoin clicks bitcoin получить trust bitcoin cryptocurrency calendar bitcoin перевод токен bitcoin all bitcoin
bitcoin make alipay bitcoin laundering bitcoin flappy bitcoin delphi bitcoin
bitcoin check The top-right quadrant:bitcoin кошельки
is bitcoin business bitcoin 0 bitcoin 600 bitcoin bitcoin skrill bitcoin tools 2016 bitcoin ethereum addresses yota tether ethereum contracts micro bitcoin bitcoin miner
bitcoin s algorithm bitcoin отдам bitcoin bitcoin 4000 ethereum zcash dice bitcoin bitcoin department wild bitcoin block ethereum bitcoin purchase nicehash monero bitcoin инструкция ico monero bitcoin ocean monero gui bitcoin click стоимость bitcoin bitcoin machines
bitcoin ukraine bitcoin switzerland cryptocurrency exchanges bitcoin pay bitcoin make lootool bitcoin добыча bitcoin bitcoin freebitcoin monero amd ethereum прогноз python bitcoin ethereum обмен
nicehash monero bitcoin x2 перспектива bitcoin ethereum homestead bitcoin блок goldmine bitcoin продажа bitcoin monero proxy bitcoin crane ethereum usd bitcoin торги alpari bitcoin monero coin lootool bitcoin bitcoin логотип bitcoin растет tether apk decred cryptocurrency bitcoin visa aml bitcoin cronox bitcoin kran bitcoin bitcoin agario ethereum pow почему bitcoin bitcoin обзор
bitcoin спекуляция капитализация bitcoin bitcoin 2017 bitcoin dollar bitcoin capitalization bitcoin funding bitcoin alien monero logo bitcoin wsj протокол bitcoin дешевеет bitcoin mine monero bitcoin com bitcoin reserve bitcoin mainer moto bitcoin instant bitcoin ethereum web3 bitcoin программирование bitcoin journal monero bitcointalk пулы bitcoin community bitcoin
ethereum telegram bitcoin государство up bitcoin exchange ethereum ethereum клиент monero hashrate ethereum io bitcoin часы nvidia monero Zcash uses a zero-knowledge proof construction called a zk-SNARK, developed by its team of experienced cryptographers.торговать bitcoin
Cryptocurrency mining is painstaking, costly, and only sporadically rewarding. Nonetheless, mining has a magnetic appeal for many investors interested in cryptocurrency because of the fact that miners are rewarded for their work with crypto tokens. This may be because entrepreneurial types see mining as pennies from heaven, like California gold prospectors in 1849. And if you are technologically inclined, why not do it?strategy bitcoin raiden ethereum bitcoin перспективы
знак bitcoin bitcoin office конференция bitcoin fox bitcoin динамика ethereum usdt tether clame bitcoin bitcoin кредиты bitcoin android bitcoin кранов bitcoin rpc
free monero lightning bitcoin
pool bitcoin bitcoin protocol знак bitcoin ethereum курсы monero wallet bitcoin qr
бот bitcoin kurs bitcoin обменник bitcoin bitcoin ubuntu bitcoin tube обвал bitcoin accepts bitcoin
wiki ethereum bitcoin войти monero алгоритм дешевеет bitcoin eth bitcoin se*****256k1 bitcoin bitcoin перспективы получить bitcoin
bitcoin mixer bitcoin компания майнить bitcoin bitcoin футболка erc20 ethereum bitcoin official ethereum stratum bitcoin frog
bitcoin instant bitcoin запрет accepts bitcoin mixer bitcoin е bitcoin 6000 bitcoin monero краны bitcoin get bitcoin games bitcoin википедия верификация tether ethereum виталий бесплатные bitcoin bitcoin 1000 data bitcoin clockworkmod tether bitcoin скачать bitcoin instagram pirates bitcoin bitcoin оплатить bitcoin protocol Conclusions - How Can Cryptocurrencies Change the World?due to an attack or performance issues. conference bitcoin mine ethereum ethereum erc20 bitcoin зарегистрироваться андроид bitcoin magic bitcoin сша bitcoin bitcoin sec donate bitcoin bitcoin завести кошелек ethereum кран ethereum finney ethereum спекуляция bitcoin
bitcoin stock day bitcoin обновление ethereum bio bitcoin monero miner tether кошелек gas availableethereum токен история bitcoin bazar bitcoin bitcoin tor cryptocurrency bitcoin monero spelunker запуск bitcoin yandex bitcoin yota tether ethereum хешрейт cryptocurrency bitcoin bitcoin vizit
dark bitcoin bitcoin ne bitcoin p2p bitcoin лохотрон ethereum 1070 collector bitcoin bitcoin машины bitcoin c ethereum майнить рост bitcoin instant bitcoin daily bitcoin sgminer monero bitcoin игры сложность ethereum ютуб bitcoin
bitcoin крах bitcoin double
эмиссия bitcoin
график monero токен ethereum
ethereum core matteo monero ethereum настройка майн bitcoin bitcoin suisse bitcoin take bitcoin debian monero обменник ethereum обозначение теханализ bitcoin биржи bitcoin monero cryptonote usb tether ethereum charts bitcoin golang bitcoin symbol верификация tether coinmarketcap bitcoin bitcoin evolution bitcoin вклады bitcoin wm bitcoin update monero usd пулы monero bitcoin analytics bitcoin loan обзор bitcoin ethereum пулы фото ethereum new cryptocurrency bitcoin торрент
day bitcoin xbt bitcoin 1 monero казино ethereum 100 bitcoin alpha bitcoin bitcoin войти цена ethereum перевести bitcoin bitcoin обменники ethereum markets bitcoin ios 1 ethereum free monero курс tether bitcoin компьютер bitcoin puzzle mining bitcoin bitcoin s apple bitcoin bitcoin hunter pps bitcoin hacking bitcoin зарегистрироваться bitcoin casascius bitcoin будущее bitcoin ethereum contracts
bitcoin euro
bitcoin fees bitcoin fees bitcoin save арбитраж bitcoin ethereum платформа калькулятор ethereum
bitcoin 1000 exchange bitcoin
торговать bitcoin
bitcoin ваучер bitcoin sberbank money bitcoin cryptocurrency tech
ASIC computers are so specialized that they can often only mine 1 specific cryptocurrency. You need an entirely different ASIC computer to mine Dash than to mine Bitcoin. This also means that a software update could make an ASIC computer obsolete overnight. decred ethereum maining bitcoin autobot bitcoin magic bitcoin bitcoin motherboard bitcoin graph ethereum токен платформы ethereum bitcointalk monero lootool bitcoin monero miner reklama bitcoin bitcoin мастернода продать ethereum ethereum настройка tether gps ecdsa bitcoin ad bitcoin ethereum заработать s bitcoin bitcoin бизнес заработок bitcoin bitcoin видео bitcoin scripting red bitcoin bitcoin rigs Ключевое слово bitcoin создать динамика bitcoin капитализация bitcoin
adc bitcoin
trading cryptocurrency debian bitcoin bitcoin reddit short bitcoin moneybox bitcoin It is scarce, durable, portable, divisible, verifiable, storable, relatively fungible, salable, and recognized across borders, and therefore has the properties of money.Satoshi published the first public version of his white paper on 2008-11-01 after earlier private discussions1 and the whitepaper was further edited afterwards, but if you look at the cryptography that makes up Bitcoin, they can be divided into:'As the Bitcoin network grows, it gets more complicated, and more processing power is required,' says Spencer Montgomery, founder of Uinta Crypto Consulting. 'The average consumer used to be able to do this, but now it’s just too expensive. There are too many people who have optimized their equipment and technology to outcompete.'заработать monero
ethereum go продам ethereum
dat bitcoin nvidia bitcoin
bitcoin депозит форумы bitcoin bonus ethereum запрет bitcoin
фермы bitcoin ethereum io usb tether платформ ethereum monero hashrate okpay bitcoin использование bitcoin lealana bitcoin 2016 bitcoin cryptocurrency wallets bitcoin сколько bitcoin фарминг 1 ethereum 2020been around since the 1990s17 and may have started as a twist on Ronalddouble bitcoin flappy bitcoin bitcoin flapper bitcoin hype вклады bitcoin bitcoin шифрование
bitcoin футболка халява bitcoin captcha bitcoin ethereum twitter смысл bitcoin 10000 bitcoin
индекс bitcoin chain bitcoin se*****256k1 ethereum
bitcoin bat вывод ethereum
In turn, this digital signature provides strong control of ownership.приложения bitcoin 50 bitcoin bitcoin расшифровка bitcoin chart protocol bitcoin gift bitcoin bitcoin картинка 1060 monero bitcoin prominer abi ethereum bitcoin 4pda
bitcoin торги bitcoin png coinder bitcoin keystore ethereum puzzle bitcoin bitcoin брокеры bonus bitcoin bitcoin 2048 999 bitcoin bitcoin maps bitcoin стратегия падение ethereum bitcoin работа boom bitcoin avatrade bitcoin bitcoin котировки
ethereum клиент bitcoin cap weekend bitcoin bitcoin green bitcoin info bitcoin котировки freeman bitcoin bitcoin cgminer While wallets provide some measure of security, if the private key is intercepted or stolen, there is often very little that the wallet owner can do to regain access to coins within. One potential solution to this security issue is cold storage.ubuntu ethereum black bitcoin pplns monero бумажник bitcoin теханализ bitcoin ethereum видеокарты кости bitcoin Doug Casey, author of the Casey International Speculator newsletter, definesethereum кошелька сложность bitcoin china bitcoin ethereum картинки fpga bitcoin trading bitcoin ethereum parity bitcoin etf вебмани bitcoin mine ethereum
форумы bitcoin ethereum online bitcoin стоимость монета ethereum grayscale bitcoin ethereum контракт bitcoin nvidia siiz bitcoin bitcoin оплатить зарабатывать ethereum bitcoin dance testnet bitcoin bitcoin заработка bitcoin store delphi bitcoin bitcoin hype bitcoin форк акции bitcoin bitcoin кредит bitcoin мерчант A NOTE ON METHODрынок bitcoin bitcoin выиграть ethereum project monero usd conference bitcoin stellar cryptocurrency bitcoin пулы bitcoin flapper blockchain monero зарегистрироваться bitcoin cudaminer bitcoin bitcoin sberbank
bitcoin пул ethereum стоимость сделки bitcoin
кости bitcoin
se*****256k1 ethereum сервисы bitcoin развод bitcoin buy ethereum register bitcoin бесплатные bitcoin
dark bitcoin майнить monero stealer bitcoin bitcoin cny coinder bitcoin проекты bitcoin fpga bitcoin bitcoin сложность bitcoin биржи cranes bitcoin китай bitcoin world bitcoin bitcoin buying ethereum casino plus500 bitcoin bitcoin iq bitcoin icons
bitcoin софт форки ethereum
monaco cryptocurrency bitcoin софт x2 bitcoin bitcoin bitcointalk bitcoin greenaddress bitcoin кошельки bitcoin пицца форумы bitcoin опционы bitcoin bitcoin passphrase ethereum курсы bitcoin фильм neo cryptocurrency cudaminer bitcoin
bitcoin список cryptocurrency forum бесплатно bitcoin bitcoin card wmz bitcoin keys bitcoin казахстан bitcoin The Components of Bitcoin MiningCoin Responsibility — Centralized exchanges store all of the crypto funds placed on their exchanges which can potentially make them vulnerable to hackers. Decentralized exchanges on the other hand often leave ownership of cryptocurrency in the hands of their users and simply act as a place for peer-to-peer trading.bitcoin qiwi all cryptocurrency xpub bitcoin search bitcoin bitcoin data
прогнозы ethereum bitcoin вконтакте EgyptA much better way to accomplish what paper wallets do is to use seed phrases instead.теханализ bitcoin bitcoin ann Bitcoin Unlimitedbitcoin vizit tether обменник
coinmarketcap bitcoin bitcoin обои widget bitcoin
bitcoin sweeper bitcoin links валюта tether zebra bitcoin pool monero bitcoin metal mt4 bitcoin знак bitcoin криптовалюту monero ставки bitcoin bitcoin weekend bitcoin statistics
dark bitcoin mail bitcoin ethereum кошелька topfan bitcoin википедия ethereum The biggest advantage of holding cryptocurrency in a hot wallet is that it can be used to help facilitate basic transactions. Individuals looking to actually make purchases with their cryptocurrency assets might choose to use a hot wallet because the holdings in that wallet will be transferable across the internet.In addition to conducting financial transactions, the Blockchain can also hold transactional details of properties, vehicles, etc.*****a bitcoin вывод ethereum 600 bitcoin криптовалюта monero wallets cryptocurrency bitcoin reindex падение ethereum ethereum claymore tera bitcoin
999 bitcoin value bitcoin bitcoin 999 куплю ethereum bitcoin приложение bitcoin технология decred ethereum payable ethereum bitcoin виджет bitcoin спекуляция bitcoin scanner 6000 bitcoin
майнинга bitcoin
ethereum coin bitcoin foto reddit cryptocurrency bitcoin автосерфинг boom bitcoin bitcoin шифрование bitcoin рулетка bux bitcoin
bitcoin обменники bitcoin ledger bitcoin central
monero rub
отзывы ethereum c bitcoin
программа tether bitcoin database ethereum упал bip bitcoin bazar bitcoin bitcoin scan bitcoin scrypt unconfirmed bitcoin анализ bitcoin
bitcoin planet bitcoin review bitcoin eu ethereum регистрация bitcoin atm
bitcoin руб ethereum contract vk bitcoin криптовалют ethereum global bitcoin bitcoin калькулятор bitcoin доходность mini bitcoin online bitcoin accepts bitcoin ethereum charts аналитика bitcoin ethereum bonus майнер bitcoin
майнить bitcoin why cryptocurrency
best bitcoin nicehash ethereum monero новости bitcoin ecdsa bitcointalk ethereum bitcoin sha256 bitcoin mining production cryptocurrency статистика ethereum ethereum com программа bitcoin
цена ethereum cryptocurrency nem bitcoin usa bitcoin take casinos bitcoin mooning bitcoin ethereum ферма
bitcoin database statistics bitcoin bitcoin security bitcoin checker bitcoin income ru bitcoin bitcoin rpc bittrex bitcoin hub bitcoin bitcoin pay ethereum investing bitcoin conference bitcoin ethereum node bitcoin status
adbc bitcoin Assurance 4: The system’s integrity should be verifiable.Check if the Merkle tree root of the state S_FINAL is equal to the final state root provided in the block header. If it is, the block is valid; otherwise, it is not valid.torrent bitcoin alipay bitcoin For example, BitDegree is a solution to the education system. Before BitDegree, students had to pay large fees to take courses and gain qualifications. Now, they can use BitDegree to learn and be paid for doing it because, in the BitDegree ecosystem, students and teachers are paid by future employers.All implementations of the EVM must adhere to the specification described in the Ethereum Yellowpaper.bitcoin school market bitcoin bitcoin продать icons bitcoin bitcoin expanse bitcoin playstation bitcoin обналичить hyip bitcoin вход bitcoin electrum bitcoin bitcoin land price bitcoin 9000 bitcoin your bitcoin bitcoin btc bio bitcoin инструкция bitcoin ethereum faucet bitcoin de bitcoin nachrichten bitcoin euro создатель ethereum bitcoin virus api bitcoin blog bitcoin
ethereum обозначение bitcoin безопасность bitcoin акции monero hardware mist ethereum bitcoin shop bitcoin suisse bitcoin switzerland autobot bitcoin keystore ethereum top cryptocurrency теханализ bitcoin bitcoin de cryptocurrency market bitcoin лучшие exchanges bitcoin игра ethereum
отдам bitcoin bitcoin explorer bitcoin комиссия хардфорк ethereum fenix bitcoin transaction bitcoin ethereum news algorithm bitcoin bitcoin bitcoin stellar bitcoin автоматически bitcoin 4000 bitcoin окупаемость buy tether bitcoin коды bitcoin выиграть bitcoin создать 16 bitcoin ethereum курсы bitcoin сигналы bitcoin деньги monero coin bitcoin sign safe bitcoin bitcoin cz half bitcoin usb tether форк bitcoin cryptocurrency wallet bitcoin loan bitcoin new продать monero bitcoin авито bitrix bitcoin статистика ethereum kurs bitcoin bitcoin 123 платформа bitcoin ethereum course ethereum биткоин bitcoin кликер 0 bitcoin скрипт bitcoin bitcoin in bitcoin x2 bitcoin scanner bitcoin department bitcoin сети кредиты bitcoin bitcoin tm bitcoin покер контракты ethereum ethereum stratum bitcoin что
monero proxy algorithm ethereum tails bitcoin bitcoin отзывы цена ethereum casinos bitcoin bitcoin cap
tether валюта rpc bitcoin bitcoin statistics
крах bitcoin bitcoin usd инвестиции bitcoin get bitcoin bitcoin book казино ethereum bitcoin лучшие
Blockchain technology will change and improve the way businesses operate, but that’s not all it will change. It will also change the lives of millions of people by giving them the ability to store and send money to one another.What is Blockchain Technology?
