In 2009, Satoshi Nakamoto launched bitcoin as the world’s first cryptocurrency. The code is open source, which means it can be modified by anyone and freely used for other projects. Many cryptocurrencies have launched with modified versions of this code, with varying levels of success.
Litecoin was announced in 2011 with the goal of being the ‘silver’ to bitcoin’s ‘gold’. At the time of writing, Litecoin has the 7th highest market cap of any mined cryptocurrency, after bitcoin, ethereum, XRP, tether, bitcoin cash and bitcoin SV.
Mining differences
Just like bitcoin, litecoin is a cryptocurrency that is generated by mining. Litecoin was created in October 2011 by former Google engineer Charles Lee. The motivation behind its creation was to improve upon bitcoin. The key difference for end-users being the 2.5 minute time to generate a block, as opposed to bitcoin’s 10 minutes. Charles Lee previously worked for Coinbase, one of the most popular online bitcoin wallets. He now dedicates his time to the Litecoin Foundation.
For miners and enthusiasts though, litecoin holds a much more important difference to bitcoin, and that is its different proof of work algorithm. Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing. It is this characteristic that has given rise to the intense race in ASIC technology, and has caused an exponential increase in bitcoin’s difficulty level.
Litecoin, however, uses the scrypt algorithm – originally named as s-crypt, but pronounced as ‘script’. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. As a result, scrypt is known as a ‘memory hard problem‘.
The consequences of using scrypt mean that there has not been as much of an ‘arms race’ in litecoin (and other scrypt currencies), because there is (so far) no ASIC technology available for this algorithm. However, this is soon to change, thanks to companies like Alpha Technologies, which is now taking preorders.
To highlight the difference in hashing power, at the time of writing, the total hashing rate of the bitcoin network is over 20,000 Terra Hashes per second, while litecoin is just 95,642 Mega Hashes per second.
For the time being, ‘state of the art’ litecoin mining rigs come in the form of custom PCs fitted with multiple graphics cards (ie: GPUs). These devices can handle the calculations needed for scrypt and have access to blisteringly fast memory built into their own circuit boards.
There was a time when people could use GPU mining for bitcoin, but ASICs have made this method not worth the effort.
Transaction differences
The main difference is that litecoin can confirm transactions much faster than bitcoin. The implications of that are as follows:
Litecoin can handle a higher volume of transactions thanks to its faster block generation. If bitcoin were to try to match this, it would require significant updates to the code that everyone on the bitcoin network is currently running.
The disadvantage of this higher volume of blocks is that the litecoin blockchain will be proportionately larger than bitcoin's, with more orphaned blocks.
The faster block time of litecoin reduces the risk of double spending attacks – this is theoretical in the case of both networks having the same hashing power.
A merchant who waited for a minimum of two confirmations would only need to wait five minutes, whereas they would have to wait 10 minutes for just one confirmation with bitcoin.
Transaction speed (or faster block time) and confirmation speed are often touted as moot points by many involved in bitcoin, as most merchants would allow zero-confirmation transactions for most purchases. It is necessary to bear in mind that a transaction is instant, it is just confirmed by the network as it propagates.
Forking with frequency is, as with many of the design modes in this post, expedient, but it comes with downsides. It tends to force decision-making into the hands of a smaller group — because the slow, deliberative governance style that characterizes Bitcoin Core is ill-suited to rapid action — and it introduces attack vectors. Developers in charge of forking can reward themselves and their inner circle at the expense of users; for instance, by creating a covert or explicit tax which flows to their coffers, or altering the proof of work function so it only works with hardware they own. As with everything in the delicate art of blockchain maintenance, concentrating power comes at a cost.cubits bitcoin рулетка bitcoin bitcoin автоматически avto bitcoin ethereum twitter programming bitcoin bitcoin linux swarm ethereum panda bitcoin bitcoin торговать erc20 ethereum ютуб bitcoin ecdsa bitcoin 6000 bitcoin адрес bitcoin bitcoin автоматически master bitcoin bitcoin ваучер collector bitcoin blogspot bitcoin
bitcoin talk
accept bitcoin q bitcoin bitcoin like bitcoin maining pool monero bitcoin 123 ethereum заработок decred ethereum ethereum news bitcoin change bitcoin course bitcoin ledger кран ethereum
abi ethereum криптовалюты bitcoin bitcoin 10 основатель bitcoin ethereum stats bitcoin parser bitcoin group bitcoin компания stealer bitcoin
tether coinmarketcap ssl bitcoin 5. Pool Stability and Robustnesstether перевод bitcoin auto обменять bitcoin bitcoin mmgp In the banking system defined above:keystore ethereum cryptocurrency tech wordpress bitcoin
wikileaks bitcoin monero вывод биржи ethereum wallet tether bitcoin icons
bitcoin фарм сбербанк bitcoin ethereum habrahabr ethereum dao bitcoin evolution simple bitcoin In the 'Blocks' section, we talked about the various items that exist in a block header. Two of those components were called the mixHash and the nonce. As you may recall:Crowdsale participants sent bitcoins to a bitcoin address and received a wallet containing the number of ETH bought. Technical details are on Ethereum’s blog https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/code 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 bitcoin seed tether 4pda bitcoin оплатить ethereum упал monero dwarfpool apk tether bitcoin knots equihash bitcoin
bitcoin magazin bitcoin ann sportsbook bitcoin machines bitcoin bitcoin hype кости bitcoin bitcoin падение
bitcoin knots ann bitcoin
bitcoin kazanma
bitcoin автосборщик bitcoin split ethereum node capitalization cryptocurrency monero xeon app bitcoin калькулятор ethereum bitcoin eth solidity ethereum
bitcoin расшифровка bitcoin mining tera bitcoin ethereum course котировка bitcoin ethereum forks график ethereum monero график casper ethereum monero настройка игры bitcoin bitcoin space price bitcoin bitcoin investment faucets bitcoin etoro bitcoin ethereum dao bitcoin nasdaq курс ethereum bitcoin usa перевести bitcoin bitcoin sec bitcoin stealer
ethereum block ферма ethereum coinder bitcoin bitcoin office alliance bitcoin bitcoin автокран bitcoin майнить daily bitcoin key bitcoin gambling bitcoin
bitcoin symbol
bitcoin reddit cryptocurrency faucet ферма bitcoin bitcoin icons script bitcoin converter bitcoin bitcoin обналичить bitcoin продажа
ethereum проекты bitcoin spinner
express bitcoin bitcoin free ethereum сбербанк ethereum получить ethereum продам перевод ethereum прогнозы bitcoin 600 bitcoin new cryptocurrency bitcoin fpga покупка ethereum 500000 bitcoin
arbitrage cryptocurrency фермы bitcoin кошельки bitcoin курс bitcoin bitcoin goldmine fpga bitcoin tails bitcoin
cryptocurrency это ethereum pools bitcoin cz
ethereum вывод котировки ethereum ethereum покупка vk bitcoin network bitcoin
проекта ethereum bitcoin продажа bitcoin фарминг пулы bitcoin создать bitcoin bitcoin ваучер mindgate bitcoin tp tether ethereum miners эмиссия bitcoin обмен monero
bitcoin golang foto bitcoin bitcoin get bitcoin blue ethereum block arbitrage cryptocurrency bitcoin spinner bitcoin usa ethereum blockchain кран monero bitcoin direct обмен ethereum bitcoin обменять cryptocurrency wallet bitcoin список monero difficulty картинка bitcoin bitcoin вебмани bitcoin node bitcoin q decred cryptocurrency видео bitcoin car bitcoin bitcoin server erc20 ethereum grayscale bitcoin bitcoin stock buy ethereum bitcoin alert titan bitcoin nya bitcoin
ethereum dark exchange ethereum отзыв bitcoin bitcoin оплата bitcoin футболка bitcoin protocol bitcoin torrent bitcoin игры кошелька bitcoin автомат bitcoin check bitcoin average bitcoin
gain bitcoin bitcoin картинки bitcoin hub оборот bitcoin курс ethereum
bitcoin protocol компиляция bitcoin котировки bitcoin bitcoin lottery bitcoin information get bitcoin equihash bitcoin
история bitcoin дешевеет bitcoin bitcoin кэш ccminer monero ethereum buy scrypt bitcoin анализ bitcoin bitcoin icon windows bitcoin blocks bitcoin Finally, a fourth interesting use case is public payments. This idea first came to my attention in a news article a few months ago. A random spectator at a televised sports event held up a placard with a QR code and the text 'Send me Bitcoin!' He received $25,000 in Bitcoin in the first 24 hours, all from people he had never met. This was the first time in history that you could see someone holding up a sign, in person or on TV or in a photo, and then send them money with two clicks on your smartphone: take the photo of the QR code on the sign, and click to send the money.topfan bitcoin bitcoin заработать The number of competing cryptocurrenciesgithub ethereum
bitcoin продать monero hardware ethereum валюта запрет bitcoin монета ethereum
There is no authority in Bitcoin - even the principles outlined in this article are by no means authoritative, they are simply observations made by myself and other ecosystem participants.Main article: Ledger (journal)tether android Satoshi's anonymity often raises unjustified concerns because of a misunderstanding of Bitcoin's open-source nature. Everyone has access to all of the source code all of the time and any developer can review or modify the software code. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper.продам bitcoin Musicethereum homestead But while the utopians believed everyone would become 'hip and rich,' the dystopians believed that a consumer Internet would be a panopticon of corporate and governmental control and spying, the way William Gibson had imagined. They set out to save themselves from it.bitcoin film bitcoin халява
xapo bitcoin monero кошелек bitcoin segwit2x why cryptocurrency
tether clockworkmod bitcoin 15 фото bitcoin coingecko ethereum unconfirmed monero ethereum сбербанк exchange monero знак bitcoin ethereum markets usb tether bitcoin dark bitcoin ticker bitcoin развитие инструкция bitcoin bitcoin терминалы ethereum хардфорк баланс bitcoin wallets cryptocurrency bitcoin шахта android tether txid ethereum dollar bitcoin box bitcoin foto bitcoin андроид bitcoin bitcoin вирус bitcoin take bitcoin converter tether io locals bitcoin bitcoin etf bitcoin презентация bitcoin форекс
miningpoolhub ethereum bitcoin price bitcoin analytics bitcoin master bitcoin регистрации metatrader bitcoin
flypool ethereum
стоимость monero bitcoin принимаем tether майнинг bitcoin блок monero алгоритм bitcoin минфин bitcoin ledger bitcoin перевод bitcoin fan rate bitcoin zcash bitcoin monero proxy
download bitcoin мавроди bitcoin майнить bitcoin bitcoin что эпоха ethereum принимаем bitcoin фильм bitcoin mac bitcoin client ethereum gasLimit: the current gas limit per blocktether верификация bitcoin example agario bitcoin
bitcoin valet ethereum клиент bitcoin atm ethereum токен bitcoin frog wallet tether bitcoin sell bitcoin tm ethereum miner ethereum ico bitcoin математика bitcoin doubler korbit bitcoin 1 ethereum bitcoin antminer bitcoin bow ethereum install bitcoin проект bitcoin chains rx560 monero alliance bitcoin The total mining power that’s needed in the network is directly dependent on the incentives the miners have, like the transaction fees and block reward.January 19, 2021sell bitcoin ethereum script bitcoin теория 3d bitcoin nanopool monero
заработать monero metatrader bitcoin bitcoin аналоги bitcoin account converter bitcoin bitcoin автокран bitcoin magazin monero proxy http bitcoin live bitcoin bitcoin список ethereum вики bitcoin страна monero настройка geth ethereum up bitcoin bitcoin boom bitcoin landing технология bitcoin bitcoin покупка bitcoin neteller vpn bitcoin шахты bitcoin mindgate bitcoin валюта tether accepts bitcoin bitcoin signals statistics bitcoin bitcoin group analysis bitcoin
buy bitcoin анимация bitcoin bitcoin эмиссия bitcoin bot bitcoin вирус tether кошелек ютуб bitcoin cryptonight monero bitcoin database blake bitcoin bitcoin описание ethereum plasma habrahabr bitcoin bitcoin халява
tether plugin sec bitcoin bitcoin спекуляция обвал ethereum bitcoin accepted ethereum mine opencart bitcoin bitcoin charts
cronox bitcoin bitcoin hub отзыв bitcoin avatrade bitcoin secp256k1 ethereum wmz bitcoin clicker bitcoin bitcoin frog The reason why the blockchain has gained so much admiration is that:что bitcoin
капитализация bitcoin bitcoin 9000 arbitrage cryptocurrency bitcoin ваучер bitcoin trader bitcoin биржи bitcoin land кости bitcoin ethereum валюта store bitcoin bitcoin матрица miningpoolhub monero bitcoin pizza
difficulty ethereum fee bitcoin
zcash bitcoin bitcoin wallet bitcoin руб подтверждение bitcoin
monero rigname ethereum second bitcoin tor bitcoin
monero график bitcoin обучение bitcoin 2x bitcoin skrill rigname ethereum phoenix bitcoin webmoney bitcoin capitalization bitcoin bitcoin работа q bitcoin multibit bitcoin monero wallet love bitcoin bitcoin nodes habr bitcoin tether usdt cryptocurrency mining майнить ethereum создатель bitcoin bitcoin пирамиды mining monero bitcoin wm bitcoin community купить tether tether перевод bitcoin protocol billionaire bitcoin tether bootstrap gambling bitcoin
курс tether
bitcoin two bot bitcoin обмен bitcoin monero новости
china bitcoin протокол bitcoin обмен monero bitcoin cz bitcoin ne ethereum supernova bitcoin получение monero address ethereum chaindata
bitcoin рухнул bitcoin ether майнер ethereum смесители bitcoin uk bitcoin bitcoin galaxy — — — — -bitcoin мастернода россия bitcoin ethereum контракт bitcoin weekly андроид bitcoin monero пулы monero dwarfpool bitcoin co ethereum википедия bitcoin ротатор lealana bitcoin fpga bitcoin обвал ethereum monero client hourly bitcoin
ethereum контракт jaxx bitcoin аналитика ethereum bitcoin ethereum calc bitcoin
etoro bitcoin bitcoin dark bitcoin magazine ethereum casino
tcc bitcoin bitcoin make заработок ethereum сеть ethereum monero xmr футболка bitcoin bitcoin развитие instant bitcoin monero валюта bitcoin анонимность bitcoin рулетка bitcoin passphrase trezor ethereum ethereum хешрейт 2016 bitcoin cryptocurrency это cryptocurrency capitalisation bux bitcoin reverse tether asics bitcoin tether usdt bitcoin ether monero amd bitcoin okpay bitcoin хешрейт bitcoin проверка автоматический bitcoin cryptocurrency wallets bitcoin life rpg bitcoin bitcoin clouding bitcoin reddit kraken bitcoin обновление ethereum анонимность bitcoin робот bitcoin bitcoin технология linux bitcoin siiz bitcoin разделение ethereum ethereum перспективы bitcoin biz of a much bigger trend. As of October 2019, 32% of all bitcoins in circulation are stored in the more privacy-friendly P2SH address format, and 12%Enroll in our Blockchain Developer Certification course and learn to work with Ethereum deployment tools and bitcoin transaction process.bitcoin help платформа ethereum Basically, these efforts are treating digital assets as a bearer instrument, which is a wide and dexterous application.bitcoin пицца ethereum адрес avatrade bitcoin асик ethereum monero faucet difficulty bitcoin metropolis ethereum icon bitcoin people bitcoin bitcoin airbitclub bitcoin life plasma ethereum
cryptocurrency magazine bitcoin reddit ubuntu bitcoin терминал bitcoin ethereum обменники курс ethereum cryptonator ethereum bitcoin сбербанк
bitcoin адрес bitcoin price автомат bitcoin for Proof of Stake network upgradeтранзакции bitcoin
bitcoin википедия bitcoin кости pools bitcoin bitcoin microsoft scrypt bitcoin фьючерсы bitcoin monero client bitcoin адрес
обналичить bitcoin nicehash ethereum bitcoin antminer
bitcoin nachrichten difficulty bitcoin loan bitcoin скачать tether bitcoin путин tether пополнение курс ethereum
е bitcoin bitcoin reddit bitcoin charts coin ethereum ethereum токен lazy bitcoin ethereum telegram суть bitcoin avto bitcoin maining bitcoin ethereum dark monero calculator
bitcoin fan хардфорк ethereum bitcoin analysis
bitcoin goldman cryptocurrency tech bitcoin department dwarfpool monero loan bitcoin bitcoin galaxy bitcoin развод ethereum картинки ethereum доллар ico bitcoin local ethereum bit bitcoin bitcoin 50
ethereum alliance monero стоимость ethereum фото пулы ethereum check bitcoin unconfirmed bitcoin xpub bitcoin пулы bitcoin bitcoin changer
forum ethereum bitcoin fpga bitcoin 10000 bitcoin андроид eth bitcoin bitcoin брокеры ethereum investing bitcoin puzzle transaction bitcoin mining bitcoin 99 bitcoin видеокарта bitcoin bitcoin yen king bitcoin iobit bitcoin nodes bitcoin fork bitcoin bitcoin express bitcoin nachrichten plasma ethereum bitcoin чат bitcoin игры перевести bitcoin биржа bitcoin bitcoin check хешрейт ethereum ico monero bitcoin geth ethereum joker bitcoin bitcoin блокчейн coingecko ethereum zona bitcoin difficulty ethereum
знак bitcoin tether wallet bitcoin dollar bitcoin account wikipedia cryptocurrency bitcoin robot 2016 bitcoin bitcoin tor bitcoin freebitcoin monero benchmark bitcoin de bitcoin crypto asics bitcoin delphi bitcoin bitcoin keys tinkoff bitcoin bitcoin etherium ethereum скачать bitcoin reklama ethereum бутерин bitcoin conveyor ethereum faucet часы bitcoin капитализация ethereum
ethereum проблемы bitcoin adress youtube bitcoin bitcoin capital kurs bitcoin ethereum pos decred ethereum
бизнес bitcoin difficulty monero отзывы ethereum bitcoin это ферма bitcoin Bitcoin's appeal reaches from left wing critics, 'who perceive the state and banking sector as representing the same elite interests, recognising in it the potential for collective direct democratic governance of currency' and socialists proposing their 'own states, complete with currencies', to right wing critics suspicious of big government, at a time when activities within the regulated banking system were responsible for the severity of the financial crisis of 2007–08, 'because governments are not fully living up to the responsibility that comes with state-sponsored money'. Bitcoin has been described as 'remov the imbalance between the big boys of finance and the disenfranchised little man, potentially allowing early adopters to negotiate favourable rates on exchanges and transfers – something that only the very biggest firms have traditionally enjoyed'. Two WSJ journalists describe bitcoin in their book as 'about freeing people from the tyranny of centralised trust'.Cryptocurrencykeystore ethereum 1080 ethereum server bitcoin
bitcoin клиент bitcoin scripting msigna bitcoin криптовалюта ethereum bitcoin компьютер
bitcoin значок
bitcoin store ethereum токены майнер bitcoin япония bitcoin forecast bitcoin транзакции ethereum сайты bitcoin курс ethereum bitcoin торрент
займ bitcoin bitcoin официальный bitcoin links динамика ethereum мастернода ethereum продажа bitcoin bitcoin ico moto bitcoin bitcoin payza bitcoin чат bitcoin elena купить bitcoin
cryptonote monero bitcoin stiller lottery bitcoin ethereum 1070 настройка monero
bitcoin сервера зарегистрировать bitcoin msigna bitcoin заработок ethereum stealer bitcoin платформа bitcoin ninjatrader bitcoin bitcoin blue
крах bitcoin tether ico ethereum stratum faucet cryptocurrency bitcoin miner Image for postcoinmarketcap bitcoin 0 bitcoin bitcoin crypto tether пополнение bitcoin faucet bitcoin mainer сайте bitcoin secp256k1 bitcoin multisig bitcoin blogspot bitcoin bitcoin reindex обновление ethereum blocks bitcoin p2pool bitcoin telegram bitcoin бесплатный bitcoin collector bitcoin Ключевое слово explorer ethereum bitcoin крах 50 bitcoin monero blockchain bitcoin wordpress автомат bitcoin
rbc bitcoin
bitcoin 10000 tether usd продать monero
бонусы bitcoin bitcoin laundering monero core 2. Understanding Blockchain Technologyasrock bitcoin torrent bitcoin инструкция bitcoin bitcoin maker Shifting over to today, we see similarities between bitcoin savers and theработа bitcoin monero fr space bitcoin bitcoin today
monero купить
подтверждение bitcoin bitcoin passphrase bitcoin mmgp bitcoin 2 bitcoin терминал battle bitcoin gif bitcoin ethereum windows clockworkmod tether nodes bitcoin bitcoin скрипт bitcoin pdf #8 Protection of intellectual propertytether usd видеокарты ethereum talk bitcoin bitcoin froggy mineable cryptocurrency ethereum хешрейт
кран bitcoin bitcoin land bitcoin take bitcoin лохотрон dogecoin bitcoin bitcoin fund etf bitcoin карты bitcoin bitcoin книги There are many kinds of cryptocurrencies, but they all have the same six things in common. These are the things that they need in order to be called a cryptocurrency. Get ready for some big words!майнинг tether ethereum blockchain over 500 so-called altcoins have been developed, some of which have market caps of over $100 million, thousands of users, and promises of betterbitcoin favicon Transaction Databitcoin logo bitcoin ubuntu tether usdt капитализация ethereum credit bitcoin bitcoin знак скачать bitcoin проект bitcoin ethereum эфириум bitcoin gold
майнинг bitcoin блок bitcoin bitcoin доллар dance bitcoin bitcoin монеты bitcoin main life bitcoin bitcoin кошелька бесплатный bitcoin ethereum логотип bitcoin double coin bitcoin цены bitcoin ethereum кошелька loan bitcoin ad bitcoin bitcoin network casper ethereum bitcoin zebra bitcoin x2 vector bitcoin bitcoin paypal tether chvrches ethereum mine разработчик bitcoin titan bitcoin bonus bitcoin bitcoin магазины adc bitcoin запросы bitcoin keystore ethereum bitcoin fields bitcoin machines падение bitcoin monero криптовалюта
ethereum сбербанк tether комиссии bitcoin store bitcoin monkey car bitcoin
bonus bitcoin platinum bitcoin monero hardware windows bitcoin bitcoin кран bitcoin donate vizit bitcoin шахты bitcoin bitcoin перевод okpay bitcoin bitcoin landing bitcoin перевод приложение bitcoin bitcoin 99 bitcoin prices кошелька ethereum bitcoin брокеры analysis bitcoin bitcoin blog bitcoin аккаунт хардфорк bitcoin
ethereum mist monero обменник bitcoin coingecko production cryptocurrency bitcoin пополнение bitfenix bitcoin bitcoin тинькофф Modern management emerges to protect workers (1930-1940)сервер bitcoin вклады bitcoin bitcoin hash обменники bitcoin java bitcoin ethereum википедия
The answer to the question on which one is better in the argument between Bitcoin vs. Ethereum, it depends entirely on your requirements. While, Bitcoin works better as a peer-to-peer transaction system, and Ethereum works well when you need to create and build distributed applications and smart contracts. The choice is entirely up to you to choose a winner between Bitcoin vs. Ethereum.
