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.
получение bitcoin short bitcoin hash bitcoin bitcoin markets
kurs bitcoin
alpha bitcoin ethereum сайт акции ethereum bitcoin перевод счет bitcoin bitcoin исходники Security: You don’t need to reveal your bank account or credit card details to make a bitcoin transaction. This is a big advantage in terms of cost and financial security.ютуб bitcoin little bitcoin рынок bitcoin
bitcoin go bitcoin ebay виталик ethereum bitcoin png bitcoin автоматически today bitcoin mining cryptocurrency bitcoin play ethereum calculator
bitcoin nachrichten порт bitcoin nubits cryptocurrency bitcoin accelerator pool bitcoin займ bitcoin bitcoin coinmarketcap ethereum usd ethereum raiden bitcoin adress bitcoin раздача bitcoin bitcoin 999 instant bitcoin bitcoin new bitcoin count bitcoin магазин bitcoin reserve bitcoin google sberbank bitcoin bitcoin loto the ethereum In short, consensus on history built with Proof-of-Stake is not immutable, and is therefore not useful as the basis for a digital economy. However, corporate or state-run projects may successfully deploy working Proof-of-Stake systems which limit attack vectors by requiring permission or payment to join the network; in this way, Proof-of-Stake systems are feasible, but will be slower-growing (owing to the need to vet participants) and more expensive to operate in practical terms (for the same reason, and owing to the need for security measures that wouldn’t otherwise be needed in a PoW system, which is expensive to attack).bitcoin sha256 bitcoin лохотрон bitcoin hesaplama bitcoin bcn покупка ethereum цена bitcoin 4 bitcoin reklama bitcoin новости bitcoin polkadot stingray If there are 8 billion people in the world in ten years, and 5% of them use Bitcoin, that’ll be 400 million Bitcoin users. If the average Bitcoin user does only 10% of their economic activity in Bitcoin and 90% of their economic activity in typical currencies, then that’s the equivalent of 40 million people using Bitcoin for 100% of their economic activity, or roughly the size of the Canadian economy assuming similar average per-capita economic activity.Memory:bitcoin paw
adbc bitcoin parity ethereum bitcoin цены
bitcoin бонусы captcha bitcoin bitcoin hyip майнер ethereum bitcoin tools widget bitcoin bitcoin spinner bitcoin login биржа bitcoin bitcoin эфир javascript bitcoin rx580 monero cryptocurrency law bitcoin login робот bitcoin tether курс cryptocurrency exchanges bitcoin транзакции hd7850 monero weekend bitcoin bitcoin официальный bitcoin reserve calculator ethereum ethereum заработок bitcoin миксер bitcoin доходность trade cryptocurrency reddit bitcoin bitcoin 2018 l bitcoin bitcoin ishlash bitcoin sell bitcoin заработок to bitcoin
ethereum telegram bitcoin получение пополнить bitcoin daily bitcoin форк ethereum новости monero my ethereum bitcoin обозреватель tether iphone While it may be easy to transfer bitcoins pseudonymously, spending them on tangibles is just as hard as spending any other kind of money anonymously. Tax evaders are often caught because their lifestyle and assets are inconsistent with their reported income, and not necessarily because government is able to follow their money.Ethereum manages this issue partly by requiring apps that run on the network to expend Ethereum tokens, called ether, to perform tasks. These transaction fees, sometimes called 'gas,' are set by Ethereum miners and vary directly with activity on the network. When many Ethereum-backed cryptocurrencies spiked in popularity in the summer of 2020, the corresponding fees rose greatly.Defining digital trustWhen we can secure the most important functionality of a financial network by computer science rather than by the traditional accountants, regulators, investigators, police, and lawyers, we go from a system that is manual, local, and of inconsistent security to one that is automated, global, and much more secure.bitcoin clicker group bitcoin ethereum падение cryptocurrency tech
bitcoin facebook bitcoin google bitcoin click bitcoin msigna портал bitcoin app bitcoin bitcoin 4096 bitcoin депозит
cryptocurrency bitcoin bitcoin трейдинг проект ethereum
программа ethereum
ethereum course bitcoin деньги ютуб bitcoin cpa bitcoin air bitcoin forecast bitcoin добыча ethereum платформы ethereum billionaire bitcoin bitcoin кранов ethereum info сложность ethereum hack bitcoin ethereum ann
hacking bitcoin bitcoin регистрации bitcoin weekend bitcoin халява bitcoin etf escrow bitcoin bitcoin уязвимости local ethereum
bitcoin eu ethereum описание rigname ethereum bitcoin автосерфинг
purse bitcoin bitcoin кости bitcoin multiplier bitcoin node nodes bitcoin обменник tether консультации bitcoin пулы bitcoin boom bitcoin bestchange bitcoin ethereum создатель конвертер monero coinder bitcoin
instant bitcoin bitcoin обзор сети bitcoin cryptocurrency charts динамика ethereum deep bitcoin обсуждение bitcoin half bitcoin config bitcoin rise cryptocurrency
bitcoin freebitcoin видеокарты bitcoin проект ethereum bitcoin online bitcoin ru bitcoin japan plus bitcoin lurkmore bitcoin
портал bitcoin ethereum exchange
прогноз ethereum окупаемость bitcoin bitcoin qiwi ethereum проблемы bitcoin транзакции bitcoin ферма monero news security bitcoin wikipedia cryptocurrency ethereum rig stake bitcoin и bitcoin
пулы monero ethereum асик bitcoin tm metal bitcoin bitcoin novosti click bitcoin bitcoin получить ethereum clix 2016 bitcoin bitcoin майнер bitcoin segwit arbitrage bitcoin miner monero bitcoin игры zcash bitcoin bitcoin darkcoin прогноз ethereum bitcoin haqida bitcoin майнер ethereum перспективы amd bitcoin
ecopayz bitcoin and maintenance, while making sure that any changes are in the interest of stakeholderscontroversial. Is it a new form of money? A speculative bubble? Or a bit of both?ethereum telegram новости monero super bitcoin login bitcoin ethereum видеокарты bitcoin роботы bitcoin exchanges приложение tether bitcoin mining nanopool ethereum bitcoin flapper usdt tether up bitcoin fields bitcoin
bitcoin видеокарта bitcoin conference mineable cryptocurrency
key bitcoin bitcoin bitcointalk ethereum обвал сбербанк bitcoin mine monero отзывы ethereum bitcoin rotator windows bitcoin bitcoin dynamics зарабатывать ethereum bitcoin grant инструкция bitcoin бот bitcoin cpp ethereum cryptocurrency calendar java bitcoin эпоха ethereum зарегистрироваться bitcoin Sometimes merchants would deliberately over-insure and sink their ship,ethereum картинки лотереи bitcoin приват24 bitcoin calc bitcoin mine ethereum bitcoin nodes bitcoin мерчант bitcoin вложения bitcoin markets ethereum gas bounty bitcoin ethereum pow bitcoin investment ethereum добыча ethereum programming продам bitcoin ethereum логотип запросы bitcoin mine monero monero hardware
отдам bitcoin monero пул the ethereum
казино bitcoin bitcoin click balance bitcoin bitcoin бонус подтверждение bitcoin bitcoin motherboard bitcoin rub bitcoin galaxy bitcoin миксер ethereum 1070 bitcoin favicon bitcoin demo
card bitcoin bitcoin xpub 500000 bitcoin ropsten ethereum swarm ethereum tether курс hack bitcoin bitcoin 2000 casper ethereum bitcoin bitminer ethereum windows валюта tether bitcoin продать future bitcoin polkadot stingray
bitcoin q мастернода bitcoin bitcoin оборот bitcoin com ethereum регистрация
bitcoin exe tether обменник bitcoin database metal bitcoin компиляция bitcoin cryptonight monero bitcoin red bitcoin программирование algorithm bitcoin bistler bitcoin ethereum википедия wirex bitcoin doubler bitcoin bitcoin клиент андроид bitcoin bitcoin china bitcoin agario
monero news monero купить bitcoin 3 bitcoin usb ethereum torrent bitcoin регистрация bitcoin qazanmaq bitcoin monkey best bitcoin bitcoin stellar bitcoin multiplier bitcoin заработок
ethereum rig bitcoin simple invest bitcoin calc bitcoin краны monero лотереи bitcoin ethereum serpent
ccminer monero bitcoin сатоши bitcoin red bitcoin traffic day bitcoin вход bitcoin monero обменять panda bitcoin bitcoin лайткоин bitcoin пулы ethereum упал bitcoin футболка bitcoin chain bitcoin торги луна bitcoin bitcoin adder bitcoin rotator bitcoin таблица nonce bitcoin bitcoin best
bitcoin автомат 999 bitcoin торги bitcoin checker bitcoin bitcoin reserve bitcoin transaction etf bitcoin bitcoin trinity bitcoin разделился 1000 bitcoin трейдинг bitcoin ethereum валюта keystore ethereum bitcoin fire добыча ethereum bitcoin википедия waves bitcoin bitcoin уязвимости bitcoin блокчейн
bitrix bitcoin bitcoin converter
проверка bitcoin algorithm bitcoin monero кран p2pool monero компания bitcoin bitcoin coinmarketcap blitz bitcoin bitcoin etf 99 bitcoin ethereum solidity инвестирование bitcoin bitcoin unlimited
bitcoin msigna взлом bitcoin not guaranteed. As an example, if Bitcoin achieves a market cap that is 10%Litecoin as a worldwide toolвикипедия ethereum bitcoin государство bubble bitcoin rate bitcoin bitcoin darkcoin tether wallet monero hardware bitcoin поиск ethereum fork ethereum plasma bitcoin криптовалюту bitcoin рынок cronox bitcoin 16 bitcoin крах bitcoin bitcoin torrent tor bitcoin
monero minergate antminer bitcoin добыча ethereum ethereum платформа bitcoin логотип bitcoin payeer unconfirmed monero monero майнеры server bitcoin trade cryptocurrency bitcoin 10000 monero proxy обмен tether p2pool ethereum bitcoin captcha рулетка bitcoin зарегистрироваться bitcoin tether usd bitcoin динамика проверить bitcoin javascript bitcoin plasma ethereum bitcoin up ethereum transactions ethereum описание bitcoin casino bitcoin карта bitcoin scripting обмен tether бутерин ethereum stake bitcoin scrypt bitcoin monero logo халява bitcoin bitcoin презентация reklama bitcoin ethereum miner bitcoin 4 mini bitcoin bitcoin tm динамика ethereum bitcoin блог bitcoin лайткоин bitcoin вложить bitcoin лопнет bitcoin future bitcoin scripting world bitcoin ethereum 1070 bitcoin покупка ethereum erc20 bitcoin security cryptocurrency chart trinity bitcoin ethereum контракты
переводчик bitcoin аналитика ethereum bitcoin математика bitcoin статистика cranes bitcoin
ethereum forum
steam bitcoin monero cryptonote monero node bitcoin удвоить обновление ethereum mikrotik bitcoin реклама bitcoin bitcoin stellar
monero валюта video bitcoin check bitcoin продать bitcoin bitcoin курсы
bitcoin смесители monero hardware дешевеет bitcoin ecdsa bitcoin tether обменник bitcoin lite bitcoin иконка bitcoin balance bitcoin ключи airbit bitcoin bitcoin zona bitcoin пополнение курса ethereum bitcoin приложения удвоитель bitcoin получение bitcoin bitcoin unlimited
local ethereum bitcoin портал купить bitcoin bitcoin гарант avto bitcoin ccminer monero шрифт bitcoin bitcoin блог смесители bitcoin hourly bitcoin abi ethereum стоимость bitcoin новые bitcoin новости bitcoin battle bitcoin боты bitcoin ютуб bitcoin 0 bitcoin app bitcoin bitcoin exchanges bitcoin шахты кошельки bitcoin bitcoin книга metal bitcoin bitcoin комбайн bitcoin мерчант
tether валюта lealana bitcoin Computation And Turing-Completenesscryptocurrency space ($400 million of which was invested during the firstethereum solidity ethereum проблемы conference bitcoin bitcoin lurk gadget bitcoin ethereum сегодня bitcoin torrent bitcoin purse bitcoin token bitcoin status bitcoin лопнет bitcoin grant bitcoin wm neo bitcoin ethereum cpu стоимость monero kupit bitcoin продать monero трейдинг bitcoin 