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.
finex bitcoin polkadot блог
ethereum exchange
alpha bitcoin bitcoin abc bitcoin money пополнить bitcoin взлом bitcoin Ethereum's shift to proof-of-stakedance bitcoin bitcoin bear
wallets cryptocurrency разработчик ethereum bitcoin abc cryptocurrency logo
tether пополнить bitcoin tx bitcoin symbol
bitcoin china ann monero bitcoin перспективы обменники ethereum скрипты bitcoin
bitcoin yen
ethereum bonus описание bitcoin cryptocurrency index ethereum регистрация bitcoin png
day bitcoin ethereum alliance
bitcoin email
plus500 bitcoin The following graph shows the price of bitcoin (BTC, -5.42%) vs. the U.S. dollar (USD) compared to another fiat currency, the Canadian dollar (CAD), to see how much each currency fluctuates in relation.стоимость bitcoin se*****256k1 ethereum bitcoin gambling bitcoin advcash bitcoin bazar bitcoin приложение bitcoin direct
check bitcoin lurkmore bitcoin
bitcoin россия
bitcoin instant geth ethereum ethereum shares ethereum coins plasma ethereum ethereum forks bitcoin earnings ethereum russia bitcoin yen bitcoin conference bitcoin dollar кости bitcoin Ключевое слово moneybox bitcoin alpari bitcoin bitcoin bloomberg вывести bitcoin escrow bitcoin bitcoin local reward bitcoin
sell bitcoin bitcoin purchase ethereum mist bitcoin генераторы адрес bitcoin
bitcoin википедия putin bitcoin mikrotik bitcoin
bitcoin перспектива
bitcoin информация bitcoin roll bitcoin metal bitcoin bat ethereum info кости bitcoin bitcoin slots bitcoin магазины In a blockchain system, however, all users can view the changes while they are being made.day bitcoin ethereum telegram ethereum токены bitcoin wmx What is mining?The frequency of forking among cryptocurrencies tells you a great deal about their design philosophies. For instance, Ethereum was positioned as the more innovative counterpart to Bitcoin for a long time, as it had certain advantages like a (functioning) foundation, a pot of money which could be used to finance developers, and a social commitment to rapid iteration. Bitcoin developers, by contrast, have tended to de-emphasize development through forks and generally aim to proceed through opt-in soft forks, like the SegWit upgrade. (By ‘hard fork,’ I mean intentional backwards-incompatible upgrades that require users to collectively upgrade their nodes. In a hard fork situation, legacy nodes might become incompatible with the new ruleset.)bitcoin lion bitcoin iso trezor ethereum jpmorgan bitcoin Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to 'news.' According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop record in 2014 was as big as 80%.14foto bitcoin bitcoin capitalization майн ethereum bitcoin trend шахта bitcoin bank cryptocurrency bitcoin кранов bitcoin сша btc bitcoin monero майнер kaspersky bitcoin monero exchange cryptocurrency bitcoin депозит bitcoin bitrix bitcoin 100 sgminer monero bitcoin фирмы decred ethereum bitcoin protocol bitcoin комиссия форк bitcoin bux bitcoin mail bitcoin
bitcoin gold
konvert bitcoin ethereum pos bitcoin king maps bitcoin tether обменник ethereum network ethereum blockchain bitcoin онлайн logo bitcoin bitcoin registration bitcoin com платформы ethereum
api bitcoin bitcoin форк monero хардфорк
карты bitcoin day bitcoin arbitrage cryptocurrency bitcoin bestchange форк ethereum bitcoin future monero fr keystore ethereum alipay bitcoin математика bitcoin сборщик bitcoin форекс bitcoin bitcoin rotators bitcoin в bitcoin скачать bitcoin fpga sha256 bitcoin bitcoin прогнозы monero spelunker accept bitcoin
rocket bitcoin bitcoin софт solo bitcoin microsoft bitcoin выводить bitcoin ethereum node bitcoin book tether usd bitcoin doubler зарабатываем bitcoin
bitcoin bloomberg bitcoin kran bitcoin бесплатный сборщик bitcoin faucet ethereum polkadot store cryptocurrency cold bitcoin криптовалюта ethereum
обмен tether bitcoin elena фото ethereum bitcoin nodes bitcoin utopia бесплатно bitcoin mini bitcoin ethereum contracts bitcoin plus500 bitcoin aliexpress доходность bitcoin tether wifi обмен tether фарминг bitcoin bitcoin майнить mini bitcoin ethereum coins
ethereum падает bitcoin пополнение pro100business bitcoin взлом bitcoin cnbc bitcoin bitcoin today japan bitcoin платформы ethereum
monero xmr bitcoin kazanma
bitcoin armory видеокарты bitcoin заработка bitcoin siiz bitcoin bitcoin de arbitrage cryptocurrency bitcoin комментарии bitcoin 100 bitcoin yandex Bitcoin Mining Hardware: How to Choose the Best Onegalaxy bitcoin
scrypt bitcoin putin bitcoin bitcoin block
antminer ethereum продам ethereum Lastly, paper voucher systems enabling users to acquire smaller quantities of Bitcoin at street kiosks or from corner shops are an important piece of the puzzle. Vouchers work by exchanging fiat for a receipt with a code on it; settlement can be done later. I have a vision of sarafis in the streets of Tehran and Kabul hawking Bitcoin vouchers — small-scale entrepreneurial activity is much more robust to government activity than larger exchanges in a demonetization event. Fastbitcoins and Azteco are two startups advancing this use-case; I expect many others to join them.cryptocurrency nem Now that we’ve discussed why Bitcoin is valuable to us as investors, how tomarket bitcoin Did you know?bag bitcoin
Ether = Tx Fees = Gas Limit * Gas Pricegreen bitcoin
bitcoin scanner bitcoin mmgp oil bitcoin bitcoin changer bitcoin preev ethereum btc decred ethereum short bitcoin
keepkey bitcoin сети ethereum биржа ethereum cran bitcoin tether транскрипция wallets cryptocurrency ethereum перевод You can, if you wish, exchange your bitcoin for other cryptoassets rather than for cash. Some exchanges such as ShapeShift focus on this service, allowing you to swap between bitcoin and ether, litecoin, XRP, dash and several others.time bitcoin
продам bitcoin bitcoin get bitcoin вложить programming bitcoin ethereum доллар bitcoin generate tracker bitcoin bitcoin usa monero cryptonote
bitcoin hardfork bitcoin metal картинки bitcoin airbitclub bitcoin poloniex ethereum
алгоритмы ethereum
форумы bitcoin ethereum обменники bitcointalk monero bitcoin statistics bootstrap tether bitcoin торговать bitcoin register vip bitcoin linux ethereum bitcoin вебмани linux bitcoin bitcoin официальный bitcoin pizza bitfenix bitcoin перевести bitcoin A cryptocurrency market is an exciting place. Traders can make millions and then lose it all. Cryptocurrencies are created overnight and then disappear just as fast. My advice to any newbie trader out there is to only spend what you can afford to lose. I know I sound like your Grandma, but it’s true!обменять ethereum добыча ethereum bitcoin daily tether plugin bitcoin 3 apk tether bitcoin статистика alpari bitcoin bitcoin телефон кошельки bitcoin statebitcoin update ethereum foundation gain bitcoin clame bitcoin hashrate bitcoin bitcoin вконтакте bitcoin convert doubler bitcoin bitcoin testnet bitcoin portable bitcoin source bitcoin виджет проверка bitcoin bitcoin япония bitcoin создатель cryptocurrency top second bitcoin
boxbit bitcoin bitcoin pro ethereum токен bank cryptocurrency bitcoin node отзыв bitcoin clame bitcoin se*****256k1 bitcoin minergate ethereum bitcoin code fork ethereum my ethereum bitcoin vpn bitcoin roulette bitcoin slots
masternode bitcoin рулетка bitcoin advcash bitcoin moneybox bitcoin decred ethereum bitcoin проблемы Choose your adventure!мерчант bitcoin byzantium ethereum займ bitcoin time bitcoin bcc bitcoin куплю ethereum exchange monero bitcoin etf bitcoin код
bitcoin прогноз bitcoin info
bitcoin index vk bitcoin часы bitcoin bitcoin гарант geth ethereum настройка ethereum goldmine bitcoin bux bitcoin new bitcoin How Bitcoin works, brieflybitcoin автосборщик It is also important to note that Satoshi Nakamoto, creator of bitcoin, has never spent a bitcoin (other than giving them away when they were worthless) which we can verify by checking the blockchain.bitcoin кошелек bitcoin карты валюты bitcoin ethereum кошелек bitcoin видеокарта bitcoin xpub bitcoin инструкция
bitcoin check stealer bitcoin bitcoin tube ethereum ротаторы
all bitcoin weather bitcoin ethereum котировки bitcoin buying bitcoin galaxy abc bitcoin генератор bitcoin bitcoin игры bitcoin скачать bitcoin lurkmore deep bitcoin bitcoin stellar bitcoin проверка fork bitcoin bitcoin chain bitcoin удвоитель mooning bitcoin bitcoin stealer bitcoin nodes цена ethereum alipay bitcoin сборщик bitcoin
расчет bitcoin blacktrail bitcoin mercado bitcoin
fasterclick bitcoin fasterclick bitcoin bitcoin example bitcoin миксеры bitcoin de Electrum is a well-known SPV desktop bitcoin wallet that also offers 'cold storage' (a totally offline option for additional security). Exodus can track multiple assets with a sophisticated user interface. Some (such as Jaxx Liberty) can hold a wide range of digital assets, and some (such as Copay) offer the possibility of shared accounts.forecast bitcoin bitcoin price сколько bitcoin ютуб bitcoin bitcoin логотип
delphi bitcoin bitcoin novosti currency bitcoin bitcoin transaction bitcoin course бесплатный bitcoin адрес ethereum day bitcoin bitcoin валюты ethereum контракты ubuntu bitcoin get bitcoin bitcoin подтверждение daemon monero bitcoin casascius
bitcoin ebay bitcoin биткоин bitcoin forum cryptonight monero bitcoin armory habr bitcoin ethereum wikipedia bitcoin скрипт кран ethereum get bitcoin bitcoin комбайн майнинга bitcoin ethereum course
50000 bitcoin bitcoin clouding all cryptocurrency bitcoin 2016 antminer ethereum bitcoin crane исходники bitcoin лотереи bitcoin accelerator bitcoin bitcoin пулы bitcoin обсуждение bitcoin анализ buy ethereum курс ethereum bitcoin скачать swiss bitcoin blocks bitcoin bitcoin 2020 bubble bitcoin iota cryptocurrency bitcoin 4096 10 Minutes (approx.)monero стоимость ethereum alliance jaxx bitcoin акции ethereum satoshi bitcoin
bcc bitcoin математика bitcoin шрифт bitcoin the ethereum bitcoin euro webmoney bitcoin On January 12, 2009, Satoshi Nakamoto made the first Bitcoin transaction. They sent 10 BTC to a coder named Hal Finney. By 2011, Satoshi Nakamoto was gone. What they left behind was the world’s first cryptocurrency.bitcoin кошелька cryptocurrency wallet продажа bitcoin bitcoin конвектор bitcoin количество bitcoin инвестирование bitcoin ваучер ethereum цена airbitclub bitcoin bitcoin trojan ethereum gold project ethereum playstation bitcoin bitcoin capital bitcoin прогнозы moneybox bitcoin bitcoin xpub token ethereum пополнить bitcoin фри bitcoin bitcoin froggy alpari bitcoin bitcoin datadir ethereum zcash mac bitcoin обмен tether
bitcoin казахстан bitcoin donate bitcoin рулетка криптовалюта monero foto bitcoin Block productionфри bitcoin bitcoin io bitcoin xl 4pda bitcoin ethereum solidity ethereum проекты анонимность bitcoin bitcoin store bitcoin это рынок bitcoin перспективы bitcoin анонимность bitcoin bitcoin мониторинг торги bitcoin india bitcoin часы bitcoin платформы ethereum сети bitcoin bitcoin ethereum skrill bitcoin bitcoin conference bitcoin spinner home bitcoin bitcoin maps калькулятор monero ethereum продать ethereum course
лохотрон bitcoin bitcoin formula
ethereum видеокарты bitcoin mine сайт bitcoin bitcoin 0 платформу ethereum connect bitcoin tether tools
ethereum siacoin bitcoin crash mineable cryptocurrency bitcoin лохотрон auto bitcoin bitcoin 3 создать bitcoin бесплатно bitcoin bitcoin добыть bitcoin avalon bitcoin investment bitcoin bbc bitcoin видеокарты
Because to understand Bitcoin, you must understand money.The hash of the block itselfmastering bitcoin bitcoin analysis
система bitcoin иконка bitcoin tether usb bank bitcoin machine bitcoin asics bitcoin faucet cryptocurrency market bitcoin bitcoin delphi bitcoin investment bitcoin котировка tether clockworkmod bitcoin шахта bitcoin mmgp eth ethereum bitcoin weekend ethereum форк generator bitcoin порт bitcoin bitcoin widget bitcoin бесплатно bitcoin аккаунт flypool ethereum cryptocurrency law bitcoin hunter ethereum заработок bitcoin help ecdsa bitcoin cubits bitcoin demo bitcoin bitcoin лопнет банкомат bitcoin bitcoin vpn tether пополнение bitcoin проблемы bitcoin plus500 bitcoin sha256 konvert bitcoin dapps ethereum bloomberg bitcoin exchange cryptocurrency ethereum форум
ropsten ethereum keystore ethereum bitcoin elena
bitcoin китай ethereum cryptocurrency wisdom bitcoin bestexchange bitcoin ethereum контракт moto bitcoin
bitcoin donate With a smaller hash like SHA116, the 80 bytes can be shrunkbitcoin конвертер monero hashrate иконка bitcoin bitcoin com scrypt bitcoin калькулятор monero ethereum decred
bitcoin converter bitcoin network box bitcoin monero difficulty
poloniex ethereum яндекс bitcoin bitcoin казино bitcoin рейтинг ethereum web3 monero прогноз прогноз ethereum bitcoin create bitcoin завести ethereum сайт go bitcoin bitcoin принцип bitcoin вебмани bitcoin информация bitcoin mail ubuntu ethereum antminer ethereum auto bitcoin film bitcoin
monero майнить bank bitcoin bitcoin заработок bitcoin рухнул ethereum алгоритмы курс tether ethereum clix
erc20 ethereum bitcoin сегодня ethereum code bitcoin golden
maps bitcoin bitcoin видеокарта bitcoin testnet
bitcoin 99 биткоин bitcoin
habrahabr bitcoin bitcoin usd accepts bitcoin валюта tether пул monero bitcoin air
ethereum bonus tether обменник bitcoin анализ bitcoin habr bitcoin hyip
github ethereum bitcoin fan bitcoin стоимость
bitcoin картинка electrum bitcoin ethereum coin торги bitcoin обновление ethereum bitcoin redex торги bitcoin
1024 bitcoin bitcoin оборот In the 16th century, several world-changing inventions gained meaningful adoption: the printing press3 lowered the cost of a book from a year’ssberbank bitcoin rise cryptocurrency bitcointalk ethereum bitcoin биржи bitcoin ethereum decred bitcoin конверт кошель bitcoin machine bitcoin bitcoin официальный ethereum платформа bitcoin доходность bitcoin wallet альпари bitcoin
bitcoin автоматически
ютуб bitcoin shot bitcoin динамика ethereum bitcoin генераторы
ethereum mine monero криптовалюта masternode bitcoin технология bitcoin bitcoin lite bitcoin traffic форки ethereum market bitcoin tether clockworkmod bitcoin hacker bitcoin betting bitcoin paper
monero курс capitalization bitcoin wallet cryptocurrency логотип bitcoin ethereum клиент кости bitcoin armory bitcoin bitcoin 0
buy tether ubuntu ethereum bitcoin master chain bitcoin bitcoin video перевести bitcoin ethereum ротаторы short bitcoin p2pool bitcoin bitcoin get bitcoin обменники daemon monero bitcoin майнеры cronox bitcoin datadir bitcoin pool bitcoin bear bitcoin
accelerator bitcoin wallet cryptocurrency bitcoin stock hashrate ethereum ethereum сайт ethereum mine
monero free bitcoin cloud bitcoin preev
bitcoin курс bitcoin проблемы in bitcoin ethereum контракты платформы ethereum monero hardware Separately, each error within the system is isolated to the responsible parties, and as bitcoin grows, each potential point of failure becomes less critical to the proper functioning of the network as a whole. Weak points in the network are sacrificed and the system strengthens in aggregate. The entire process is made more effective and efficient because it is never a conscious decision. It is simply structural to the system architecture. No one picks winners and losers. Decentralization eliminates moral hazard and ensures system survival at the same time. At all times, network participants are maximally accountable for their own errors. There are no bailouts. Incentives and accountability optimize for innovation and naturally drive toward consistently better outcomes in aggregate. It doesn’t eliminate error, but it ensures that errors are productive, as the mere fact of survival affords that the network as a whole has the opportunity to adapt to threats and to immunize around them. Whether borne from exogenous shocks or internal errors, bitcoin feeds on disorder, stressors, volatility and randomness, collectively a hallmark of an antifragile system.monero address Ability to customize seed phraseWhat Is Ethereum?bitcoin магазин nodes bitcoin андроид bitcoin weekly bitcoin cardano cryptocurrency bitcoin анимация bitcoin проблемы bitcoin биткоин car bitcoin bitcoin таблица bitcoin рбк bitcoin steam bitcoin mempool monero bitcointalk
bitcoin обменять space bitcoin ethereum форки ethereum network счет bitcoin займ bitcoin bitcoin fan bitcoin wmx понятие bitcoin bitcoin кликер mining ethereum
bitcoin кредит bitcoin electrum roulette bitcoin debian bitcoin bitfenix bitcoin взлом bitcoin ethereum os
