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.
monero free 4000 bitcoin bitcoin media tether комиссии 6000 bitcoin bitcoin ledger bitcoin click сайт ethereum bitcoin multiplier
bitcoin joker
инструмент bitcoin
bcc bitcoin перспективы bitcoin plasma ethereum planet bitcoin Each miner node collects new transactions into a block.bitcoin matrix CurrencyBuying in person or via a peer-to-peer marketplace that connects users directly to one anotherbest bitcoin cryptocurrency faucet flypool monero
bitcoin лохотрон
bitcoin poloniex
график bitcoin cpa bitcoin decred cryptocurrency ethereum клиент alipay bitcoin bitcoin calculator котировка bitcoin java bitcoin bitcointalk monero lite bitcoin
bitcoin рулетка bitcoin maps etf bitcoin
sell bitcoin machines bitcoin bitcoin 10000 кошелька bitcoin bitcoin автоматически динамика ethereum cryptocurrency gold monero node bitcoin 9000 ethereum вывод china bitcoin казино ethereum bitcoin обменник bitcoin адрес rush bitcoin bitcoin c торговать bitcoin bitcoin coingecko tether android node bitcoin монета ethereum
инструкция bitcoin ethereum pow bitcoin official half bitcoin TABLE OF CONTENTSbitcoin bazar bitcoin rbc ethereum стоимость avto bitcoin ethereum core разработчик bitcoin
ethereum crane reward bitcoin кран ethereum bitcoin биткоин bitcoin half
arbitrage cryptocurrency обновление ethereum dark bitcoin аккаунт bitcoin отследить bitcoin gif bitcoin bitcoin demo сокращение bitcoin autobot bitcoin youtube bitcoin bitcoin обучение bitcoin de автосборщик bitcoin bitcoin today hourly bitcoin hit bitcoin стоимость monero ethereum siacoin bitcoin страна
bitcoin rigs lite bitcoin ethereum логотип bitcoin лого bitcoin 1000 bitcoin openssl настройка bitcoin coingecko ethereum ad bitcoin game bitcoin
bitcoin 33
bitcoin заработать
исходники bitcoin 4 bitcoin создать bitcoin The main practical significance of these different algorithms is their impact on the process of 'mining' new coins. In both Bitcoin and Litecoin, the process of confirming transactions requires substantial computing power. Some members of the currency network, known as miners, allocate their computing resources toward confirming the transactions of other users. In exchange for doing so, these miners are rewarded by earning units of the currency which they have mined.bitcoin step hashrate ethereum
sec bitcoin bitcoin email bitcoin список daemon monero ethereum валюта store bitcoin dat bitcoin bitcoin purse сигналы bitcoin фермы bitcoin accept bitcoin tether обзор спекуляция bitcoin bitcoin paw pro bitcoin ethereum pools monero rur обналичить bitcoin bitcoin venezuela zcash bitcoin testnet ethereum rpg bitcoin bittorrent bitcoin bitcoin red
bitcoin кран bitcoin background tether отзывы bitcoin cudaminer bitcoin foto monero вывод bubble bitcoin bitcoin payment
обмен ethereum bitcoin bit bitcoin шахты bitcoin депозит bitcoin pdf bitcoin atm bitcoin халява api bitcoin видео bitcoin Supply and demand control Ether's price, like everything else in the world.bitcoin click отзыв bitcoin ethereum eth monero алгоритм bitcoin pdf monero кран cryptocurrency tech block ethereum zona bitcoin и bitcoin bitcoin instaforex
bitcoin vk bitcoin оплатить
оборот bitcoin bitcoin взлом tether bootstrap equihash bitcoin ethereum pool chaindata ethereum tether курс bitcoin новости locate bitcoin казино ethereum автосборщик bitcoin
ethereum контракт
bitcoin express bitcoin окупаемость nanopool ethereum bitcoin вложения bitcoin purse bitcoin dance bitcoin token bitcoin download elysium bitcoin bitcoin pay roboforex bitcoin
bitcoin knots сборщик bitcoin bitcoin betting покер bitcoin tether usdt bitcoin p2p make bitcoin bloomberg bitcoin bitcoin games bitcoin python
алгоритм bitcoin bitcoin заработок презентация bitcoin bitcoin motherboard wifi tether bitcoin коллектор bitcoin счет bitcoin сбербанк bitcoin trezor ethereum покупка bitcoin автоматически q bitcoin stealer bitcoin hashrate ethereum loans bitcoin bitcoin заработок ethereum продать lite bitcoin spots cryptocurrency bubble bitcoin bitcoin python Monero Mining: Full Guide on How to Mine Moneroethereum обменники The leading provider of Bitcoin payroll solutions globally is Bitwage. Workers can sign up without their companies offering the solution. Workers from around the world can receive any percentage of their wages in Bitcoin.bitcoin games rotator bitcoin bitcoin видео bitcoin update Decentralized exchanges are a popular way to trade Bitcoin and other cryptocurrencies without the restrictions of larger centralized platforms. They allow users to buy and sell cryptocoins from each other without the involvement of a middleman or a third-party.alipay bitcoin There’s no way to determine a precise inherent Bitcoin value, but there are certain back-of-the-envelope calculations that can give us a reasonable magnitude estimate for the value of bitcoins or other cryptocurrencies based on certain assumptions.bitcoin фильм zona bitcoin unconfirmed monero bitcoin department продажа bitcoin cardano cryptocurrency Most home computer networks today are peer-to-peer networks. Residential users configure their computers in peer workgroups to allow sharing of files, printers, and other resources equally among all of the devices. Although one computer may act as a file server or fax server at any given time, other home computers often have the equivalent capability to handle those responsibilities.bitcoin 2017 bitcoin nvidia bitcoin buying
tether usd bitcoin safe bitcoin key bitcoin play сколько bitcoin токены ethereum lamborghini bitcoin ava bitcoin ethereum price rx580 monero биржа ethereum
bitcoin formula github ethereum взлом bitcoin yandex bitcoin
galaxy bitcoin The European Banking Authority issued a warning in 2013 focusing on the lack of regulation of bitcoin, the chance that exchanges would be hacked, the volatility of bitcoin's price, and general fraud. FINRA and the North American Securities Administrators Association have both issued investor alerts about bitcoin.group bitcoin bitcoin ethereum bitcoin buying зарабатываем bitcoin bitcoin conveyor bitcoin кран bitcoin visa ethereum charts monero stats ethereum email bitcoin monero краны bitcoin double maps bitcoin робот bitcoin bitcoin converter time bitcoin bitcoin clicker 15 bitcoin nicehash ethereum wallets cryptocurrency 'It's the same situation as gold and gold mining. The marginal cost of gold mining tends to stay near the price of gold. Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange. I think the case will be the same for Bitcoin. The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.'bitcoin half mixer bitcoin bitcoin asic bitcoin stealer
майн ethereum цена ethereum bitcoin gambling bitcoin вложить capitalization bitcoin chaindata ethereum ethereum bitcoin символ bitcoin дешевеет bitcoin bitcoin xpub best bitcoin
bitcoin card китай bitcoin amd bitcoin
nanopool ethereum ethereum алгоритм bitcoin cloud bitcoin abc email bitcoin ethereum проекты заработать bitcoin bazar bitcoin bitcoin x2 bitcoin hunter bitcoin ann bitcoin кошелек half bitcoin bitcoin group ethereum price bitcoin комиссия monero pro ферма ethereum uk bitcoin
портал bitcoin bitcoin валюты ethereum 1070 bitcoin escrow lazy bitcoin GET UP TO $132Is It Worth It to Mine Cryptocoins?Recent Ethereum Price Changesтерминал bitcoin cryptocurrency
котировки bitcoin moon ethereum rbc bitcoin polkadot stingray ethereum монета bitcoin доходность monero криптовалюта oil bitcoin сайте bitcoin пример bitcoin golden bitcoin antminer bitcoin double bitcoin ethereum картинки hash bitcoin cryptocurrency calendar linux bitcoin сделки bitcoin attack bitcoin магазин bitcoin кости bitcoin hashrate bitcoin ethereum хешрейт 999 bitcoin bitcoin gadget stock bitcoin
ethereum форк bitcoin russia банк bitcoin ethereum dao bitcoin отслеживание фарминг bitcoin отзывы ethereum
инструкция bitcoin monero mining халява bitcoin ethereum io local bitcoin 6000 bitcoin bitcoin авито автомат bitcoin bitcoin кости ethereum wiki
monero logo bitcoin инвестирование bitcoin putin ethereum логотип bitcoin авито майнер ethereum finex bitcoin start bitcoin invest bitcoin ethereum php the ethereum case bitcoin bitcoin mempool ethereum pow bitcoin монеты ethereum биткоин decred ethereum fox bitcoin bitmakler ethereum claim bitcoin usdt tether bitcoin swiss maps bitcoin bitcoin приложение collector bitcoin цена ethereum bitcoin symbol bitcoin goldman
dat bitcoin
bitcoin криптовалюта
bitcoin brokers bitcoin транзакция ethereum заработок криптовалюта tether home bitcoin bitcoin darkcoin express bitcoin 3d bitcoin api bitcoin bitcoin analytics monero gpu mineable cryptocurrency bitcoin удвоить кредит bitcoin double bitcoin free bitcoin
bitcoin multibit bitcoin сегодня bitcoin investment reverse tether secp256k1 ethereum eth bitcoin alpha bitcoin ethereum обвал bitcoin пирамиды сбербанк bitcoin
bitcoin майнить currency bitcoin пожертвование bitcoin bitcoin fpga bitcoin cz bitcoin расшифровка инвестиции bitcoin dwarfpool monero tether gps dance bitcoin 2. Blockchain in Cyber Securitybitcoin майнить bitcoin save bitcoin transactions are barred for every financial institute and payment companybitcoin презентация bitcoin сети bitcoin разделился monero dwarfpool topfan bitcoin bitcoin отследить bitcoin конвертер
usb tether шахта bitcoin
monero калькулятор bitcoin лучшие казино bitcoin bitcoin ads greenaddress bitcoin
monero usd Possibility of a hard fork is reduced significantlyethereum contract carding bitcoin bitcoin daemon
cryptocurrency calendar bitcoin neteller bitcoin миксер bitcoin crane сложность ethereum bitcoin лого bitcoin cny bitcoin pools bitcoin journal bitcoin презентация etoro bitcoin выводить bitcoin получение bitcoin форк bitcoin monero bitcointalk основатель bitcoin оплата bitcoin bitcoin аналоги
bitcoin froggy
bitcoin prune
free bitcoin bitcoin novosti bitcoin grant ethereum addresses cryptocurrency nem bitcoin widget bitcoin транзакции hack bitcoin bitcoin plus500
monero майнить flappy bitcoin bitcoin plugin
майн ethereum ethereum price xmr monero bitcoin gambling зарабатывать ethereum ethereum block trade cryptocurrency что bitcoin
Pros10000 bitcoin обвал ethereum bitcoin fast перспективы bitcoin bitcoin nodes ann monero сети bitcoin monero ann bitcoin трейдинг bitcoin goldmine ethereum mining ethereum com bitcoin robot
lootool bitcoin почему bitcoin bitcoin daemon bitcoin earnings bitcoin rpc bitcoin чат mt4 bitcoin redex bitcoin bitcoin phoenix bitcoin blocks bitcoin kran ethereum btc 2 bitcoin bitcoin prices трейдинг bitcoin
amazon bitcoin bitcoin golden арбитраж bitcoin payeer bitcoin bitcoin доходность de bitcoin bitcoin chart bitcoin machine bitcoin dynamics bitcoin bcc bitcoin tube bitcoin pools новый bitcoin bitcoin banking cryptonight monero bitcoin доллар ethereum complexity bitcoin trading payable ethereum платформ ethereum byzantium ethereum ann ethereum tera bitcoin cubits bitcoin ethereum прибыльность avatrade bitcoin bitcoin world ethereum описание
monero bitcointalk ethereum логотип trade cryptocurrency
tether coin average bitcoin
bitcoin telegram сети ethereum steam bitcoin invest bitcoin tether android blue bitcoin ethereum gas bitcoin steam addnode bitcoin запросы bitcoin перспектива bitcoin blogspot bitcoin bitcoin de cpuminer monero car bitcoin 2016 bitcoin bitcoin check bitcoin криптовалюта tether yota chvrches tether покер bitcoin bitcoin database bitcoin analysis cryptocurrency wikipedia matrix bitcoin ethereum decred zcash bitcoin bitcoin 999
bitcoin окупаемость bitcoin компьютер monaco cryptocurrency bitcoin kazanma chain bitcoin bitcoin calculator golang bitcoin bitcoin brokers bitcoin avalon bitcoin motherboard programming bitcoin bitcoin магазины bitcoin порт
фото bitcoin bitcoin ann p2pool bitcoin delphi bitcoin
bitcoin cny bitcoin bux ethereum клиент ico ethereum bitcoin bcc бот bitcoin blender bitcoin bitcoin продам coinbase ethereum kaspersky bitcoin bitcoin fields
bitcoin cost bitcoin cap bitcoin froggy bitcoin eobot bitcoin проблемы ютуб bitcoin ethereum poloniex purse bitcoin курса ethereum
символ bitcoin программа ethereum bitcoin flapper
xapo bitcoin
block ethereum rpg bitcoin
ethereum обмен
china bitcoin ethereum claymore сбербанк bitcoin puzzle bitcoin сбербанк bitcoin raiden ethereum bitcoin center bitcoin книга bitcoin generation торговать bitcoin
bitcoin online bitcoin qiwi
stock bitcoin monero rub cryptocurrency news tether пополнить usa bitcoin bitcoin knots
bitcoin knots bitcoin valet locals bitcoin calculator bitcoin инструкция bitcoin ethereum прогноз unconfirmed monero картинки bitcoin
cryptocurrency mining korbit bitcoin bitcoin расчет bitcoin hunter bitcoin hacking nvidia monero 1 ethereum bitcoin background терминалы bitcoin
okpay bitcoin часы bitcoin multiply bitcoin monero 1070
frog bitcoin api bitcoin bitcoin drip доходность bitcoin bitcoin сатоши bitcoin virus bitcoin это tether wifi bitcoin bloomberg cryptocurrency перевод bitcoin мониторинг bitcointalk ethereum bitcoin selling deep bitcoin ethereum serpent monero биржи ropsten ethereum
и bitcoin buy tether
bitcoin daemon One of the many strokes of brilliance in Bitcoin is the use of economic incentives to keep miners producing valid blocks on schedule. Miners earn rewards denominated in the unit of account for the ledger they maintain; that is, in bitcoin. Nakamoto’s conjecture was that the desire to corrupt the ledger, which threatens the coin of the realm, would be outweighed by the desires of those with a vested interest.bitcoin wm bitcoin grant
claim bitcoin фарм bitcoin mineable cryptocurrency bitcoin страна lite bitcoin bitcoin compare equihash bitcoin вход bitcoin bitcoin blue майнеры monero dog bitcoin bitcoin математика bitcoin 9000 monero майнить bitcoin магазины cudaminer bitcoin bitcoin страна playstation bitcoin ico monero bitcoin шахты bitcoin инструкция клиент ethereum bitcoin кошелька bitcoin example bitcoin форекс bitcoin hash bitcoin block bitcoin орг moto bitcoin money bitcoin bitcoin network bitcoin проект bitcoin coingecko блок bitcoin сети ethereum ethereum habrahabr bitcoin php bitcoin asics bitcoin change
takara bitcoin Cryptocurrencybitcoin торги bitcoin help monero пулы r bitcoin bitcoin ann
bitcoin кран bitcoin лохотрон оборудование bitcoin
exchange ethereum bitcoin word ethereum пул bitcoin xpub transactions bitcoin bitcoin рейтинг bitcoin автокран Other Eventsbitcoin 2018 bitcoin status accepts bitcoin Financial privacy with ring signature cryptography and stealth addresses that protect the privacy of both the sender and recipient along with amounts transacted.bitcoin раздача btc bitcoin курс tether продать monero ethereum transactions bitcoin monero abi ethereum продать monero арбитраж bitcoin bitcoin billionaire bitcoin надежность mac bitcoin bitcoin окупаемость ethereum swarm javascript bitcoin ethereum сбербанк bitcoin rig
bit bitcoin bitcoin today bitcoin betting ethereum получить логотип bitcoin mt5 bitcoin bitcoin widget
токены ethereum динамика ethereum bitcoin pools lurkmore bitcoin bitcoin doge
✗ Mining uses lots of electricity;ethereum mine проекта ethereum charts bitcoin tether пополнить bitcoin завести ethereum tokens bitcoin scripting amazon bitcoin перевод ethereum ethereum charts
In short, the goal is for Ethereum apps to return control of the data in these types of services to its owner.bitcoin satoshi блок bitcoin new cryptocurrency ethereum coin So the skeptic logic follows: bitcoin does not work, but if it does work, the government will ban it. But, governments in the free world will not attempt to ban bitcoin until it becomes more apparent that it is a threat. At which time, bitcoin will be more valuable and undoubtedly harder to ban, as it will be held by far more people in far more places. So, ignore fundamentals and the asymmetry inherent in a global monetization event because in the event you turn out to be right, the government will step in to regulate bitcoin out of existence. Which side of the fence would a rational economic actor rather be on? Owning a monetary asset that has increased in value so dramatically that it threatens the global reserve currency, or the opposite – not owning that asset? Assuming an individual possesses the knowledge to understand why it is a fundamental possibility (and increasingly a probability), which is the more defensible and logical position? The asymmetry alone dictates the former and any fundamental understanding of the demand for bitcoin only reinforces the same position.доходность ethereum bitcoin elena bitcoin register биржа bitcoin рост bitcoin flash bitcoin nova bitcoin bitcoin статистика
биржа bitcoin win bitcoin ethereum casper ethereum russia
скачать ethereum
bitcoin surf
сайте bitcoin клиент bitcoin bitcoin ether банк bitcoin bitcoin legal ethereum прогнозы usdt tether blog bitcoin vector bitcoin обсуждение bitcoin bitcoin register bitcoin сервисы bitcoin information difficulty bitcoin instant bitcoin ethereum покупка bitcoin вконтакте вывести bitcoin bitcoin genesis ethereum pool bitcoin office раздача bitcoin monero пул ethereum swarm ethereum siacoin monero cpu ethereum install падение ethereum blake bitcoin курс bitcoin bitcoin значок bitcoin graph bitcoin rub bitcoin weekly keepkey bitcoin circle bitcoin withdraw bitcoin bitcoin motherboard ethereum акции twitter bitcoin bitcoin fees ethereum хардфорк bitcoin руб secp256k1 bitcoin автосборщик bitcoin
новости bitcoin mixer bitcoin bitcoin вектор боты bitcoin electrum bitcoin blogspot bitcoin bitcoin мерчант bitcoin бизнес блоки bitcoin bitcoin бизнес bitcoin future kraken bitcoin agario bitcoin amazon bitcoin bitcoin msigna amazon bitcoin суть bitcoin bitcoin алгоритм bitcoin переводчик ethereum токены bitcoin jp ethereum network bitcoin арбитраж coffee bitcoin bitcoin монеты all bitcoin accepts bitcoin bitcoin status monero simplewallet bitcoin wmx цена ethereum 999 bitcoin avto bitcoin платформы ethereum bitcoin bot bitcoin exchanges
2016 bitcoin bitcoin google акции bitcoin balance bitcoin bitcoin коды bitcoin earning ethereum курс ethereum explorer сервера bitcoin cryptocurrency charts rotator bitcoin bitcoin котировки bitcoin nachrichten обновление ethereum bitcoin суть bitcoin баланс ico ethereum bitcoin курс bitcoin airbit tether верификация bitcoin деньги nicehash monero bitcoin рухнул bitcoin обналичить bitcoin видеокарты hashrate ethereum
ethereum краны What Is Long-term Investing?
