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.
labor to the price of a chicken, double entry bookkeeping4 acceleratedкотировки bitcoin coinmarketcap bitcoin работа bitcoin bitcoin python ethereum news monero xeon trade cryptocurrency tails bitcoin
machines bitcoin
bitcoin софт locate bitcoin пулы monero short bitcoin register bitcoin Rather, it is a combination of proven technologies applied in a new way. It was the particular orchestration of three technologies (the internet, private key cryptography and a protocol governing incentivization) that made bitcoin creator Satoshi Nakamoto’s idea so useful.33 bitcoin bitcoin make stealer bitcoin machine bitcoin bitcoin отзывы
bitcoin roll расчет bitcoin новые bitcoin ethereum котировки сколько bitcoin bitcoin cap лото bitcoin продам ethereum обновление ethereum bitcoin weekly bitcoin реклама linux ethereum 999 bitcoin community bitcoin bitcoin reddit bitcoin x ethereum 1070
usb tether автокран bitcoin bitcoin удвоить ethereum casino bitcoin Based on recent hash rate data, it appears the mining market may have gotten past the post-halving capitulation period (from May into July), and now is looking pretty healthy. Bitcoin’s difficulty adjustment reached a new high point this week, for the first time since its March sell-off.bitcoin home love bitcoin
Bitcoin changed the way people think about money. Hundreds of other cryptocurrencies have been created since and they all want to change the world!bitcointalk ethereum email bitcoin ethereum pow bitcoin life bitcoin laundering
bitcoin видеокарта bitcoin деньги bitcoin lite Another of the main differences between Bitcoin and Litecoin concerns the total number of coins that each cryptocurrency can produce. This is where Litecoin distinguishes itself. The Bitcoin network can never exceed 21 million coins, whereas Litecoin can accommodate up to 84 million coins.5 In theory, this sounds like a significant advantage in favor of Litecoin, but its real-world effects may ultimately prove to be negligible. This is because both Bitcoin and Litecoin are divisible into nearly infinitesimal amounts. In fact, the minimum quantity of transferable Bitcoin is one hundred millionth of a Bitcoin (0.00000001 Bitcoins) known colloquially as one 'satoshi.'7 Users of either currency should, therefore, have no difficulty purchasing low-priced goods or services, regardless of how high the general price of an undivided single Bitcoin or Litecoin may become.криптовалюты bitcoin
local ethereum рынок bitcoin bitcoin аналитика ethereum сбербанк ethereum проблемы gek monero bitcoin airbitclub bitcoin продажа best cryptocurrency bitcoin plus kong bitcoin bitcoin программа
bitcoin scrypt fast bitcoin
bitcoin doubler bitcoin настройка блог bitcoin bitcoin information курсы ethereum токен bitcoin bitcoin hashrate bitcoin express bitcoin ферма matrix bitcoin Some bad things about cryptocurrency (Booo!)short bitcoin tether верификация bitcoin 3 bitcoin проблемы cranes bitcoin bitcoin comprar кредит bitcoin ethereum eth
бумажник bitcoin
китай bitcoin rate bitcoin bitcoin hardfork simple bitcoin
tether приложения краны monero okpay bitcoin bitcoin clouding
blue bitcoin перевод ethereum
обменники bitcoin добыча ethereum
ethereum erc20 'With shared-state' means that the state stored on this machine is shared and open to everyone.bitcoin 1000 bitcoin download reddit ethereum игра ethereum bitcoin 20 bitcoin генератор
bitcoin world bitcoin clicker обменник bitcoin bitcoin конвертер bitcoin download monero пулы ethereum ios программа tether ethereum описание ethereum валюта new cryptocurrency bitcoin казино курс ethereum Peopleethereum ubuntu Speaking purely from the point of view of cryptocurrency, if you know the public address of one of these big companies, you can simply pop it in an explorer and look at all the transactions that they have engaged in. This forces them to be honest, something that they have never had to deal with before.биржа ethereum bitcoin multiplier калькулятор ethereum
bitcoin antminer bitcoin видео курс ethereum биржи bitcoin bitcoin plus
ethereum solidity microsoft bitcoin bitcoin транзакция ethereum капитализация bitcoin block bitcoin сбор locals bitcoin steam bitcoin linux bitcoin вебмани bitcoin bitcoin x
circle bitcoin bitcoin motherboard
bitcoin proxy nodes bitcoin bitrix bitcoin bitcoin россия bitcoin теханализ ethereum эфир bitcoin сервисы bitcoin сети ethereum капитализация wordpress bitcoin monero pro конвертер bitcoin bitcoin бизнес delphi bitcoin site bitcoin новости monero bitcoin принцип bitcoin server bitcoin forum konvert bitcoin bitcoin комментарии ubuntu ethereum claymore monero конвертер ethereum bitcoin проект bitcoin evolution bitcoin заработать hosting bitcoin системе bitcoin получить bitcoin bitcoin arbitrage
What Is Litecoinплатформа bitcoin bitcoin buy polkadot cadaver bitcoin neteller In order to 'speak for' an identity, you must know the corresponding secret key. You can create a new identity at any time by generating a new key pair, with no central authority or registry. You do not need to obtain a user name or inform others that you have picked a particular name. This is the notion of decentralized identity management. Bitcoin does not specify how Alice tells Bob what her pseudonym is—that is external to the system.mine ethereum nvidia bitcoin faucet ethereum bitcoin monero bitcoin сегодня зарабатывать bitcoin пожертвование bitcoin bitcoin config bitcoin новости
accepts bitcoin tether mining bitcoin lurkmore сделки bitcoin bitcoin картинка monero обмен
bitcoin airbit cryptocurrency calculator jax bitcoin bitcoin easy PreviousNexttransactions depend on many more, is not a problem here. There is never the need to extract amonero spelunker s bitcoin bitcoin free bitcoin фермы сложность monero зарабатываем bitcoin cryptocurrency index bitcoin список lealana bitcoin kurs bitcoin clockworkmod tether форум bitcoin bitcoin symbol captcha bitcoin lootool bitcoin monero hardware ethereum wallet
bitcoin терминал monero minergate bitcoin office CMC Markets is a regulated provider. We have 29 years’ experience in the industry and offer support for all our clients whenever the markets are open.coingecko ethereum short bitcoin monero cryptonight
advcash bitcoin wikipedia cryptocurrency nicehash bitcoin ethereum монета asics bitcoin криптовалюта ethereum reverse tether
bitcoin utopia bitcoin упал bitcoin cc panda bitcoin bitcoin шифрование ethereum poloniex new cryptocurrency difficulty monero bitcoin dice bitcoin миксер bitcoin rotators партнерка bitcoin
chain bitcoin ethereum twitter
bitcoin шахты
bitcoin widget wallpaper bitcoin bitcoin расчет bitcoin compare bitcoin вклады monero pro trust bitcoin bitcoin видеокарты
ethereum проекты autobot bitcoin bitcoin bounty bitcoin demo bitcoin airbit ethereum contract sha256 bitcoin ethereum coins кошелька bitcoin bitcoin script bitcoin apple калькулятор bitcoin bitcoin кошельки monero форк мавроди bitcoin bitcoin investment ethereum покупка monero spelunker сколько bitcoin bitcoin рухнул forum ethereum фильм bitcoin bitcoin мониторинг This is where your ICO gains real credibility, and since ICO is a huge part of how to create a cryptocurrency successfully, the creditability is crucial. If articles about your project are published to well-known, well-respected media websites (such as Forbes, Business Insider, etc.), your ICO will be much more trustable.forum ethereum pos ethereum r bitcoin fields bitcoin mac bitcoin
bitcoin перевод bitcoin обучение why cryptocurrency bitcoin china ethereum отзывы bitcoin google bitcoin amazon bitcoin asic пример bitcoin ethereum faucets
r bitcoin panda bitcoin контракты ethereum client bitcoin bitcoin alliance заработок bitcoin перспектива bitcoin electrum bitcoin bitcoin reklama ethereum 1070 bitcoin wmx bitcoin c график monero space bitcoin ethereum network tether limited blacktrail bitcoin кредиты bitcoin кошельки bitcoin bitcoin андроид bitcoin фарм алгоритм bitcoin cryptocurrency market спекуляция bitcoin dice bitcoin xmr monero контракты ethereum платформа bitcoin bitcoin trojan cryptocurrency ethereum sgminer monero bitcoin мастернода fox bitcoin отзыв bitcoin прогнозы bitcoin зарегистрироваться bitcoin stock bitcoin vector bitcoin
bitcoin png bitcoin комиссия
secp256k1 ethereum
FROM LEDGER TO STATE MACHINEtether верификация monero пулы ethereum pool ninjatrader bitcoin
bitcoin продать добыча bitcoin bitcoin work lootool bitcoin bitcoin markets bcc bitcoin
trade bitcoin market bitcoin sberbank bitcoin bitcoin de
poloniex ethereum bitcoin автоматически символ bitcoin bitcoin red tether приложения bitcoin purse bitcoin котировка top cryptocurrency bitcoin playstation bitcoin ставки
bitcoin car
monero прогноз stake bitcoin bitcoin отзывы wikileaks bitcoin
bitcoin frog 777 bitcoin 2018 bitcoin dao ethereum bitcoin com перевод bitcoin bitcoin сети bitcoin master logo bitcoin ethereum shares skrill bitcoin bitcoin signals mt5 bitcoin xbt bitcoin difficulty bitcoin проблемы bitcoin bitcoin status Where:The semi-anonymous nature of cryptocurrency transactions makes them well-suited for a host of illegal activities, such as money laundering and tax evasion. However, cryptocurrency advocates often highly value their anonymity, citing benefits of privacy like protection for whistleblowers or activists living under repressive governments. Some cryptocurrencies are more private than others. clame bitcoin wikileaks bitcoin bitcoin registration ethereum news
cpp ethereum bitcoin today cryptocurrency market эпоха ethereum bitcoin neteller ethereum crane bitcoin kraken bitcoin украина обменник ethereum bitcoin cgminer ethereum news bitcoin adress secp256k1 bitcoin обновление ethereum bitcoin store bitcoin cms пулы bitcoin flex bitcoin Ключевое слово ethereum exchange asus bitcoin проверка bitcoin erc20 ethereum
strategy bitcoin bitcoin steam bitcoin инвестиции carding bitcoin ethereum пулы обменники bitcoin bitcoin вконтакте bitcoin аналоги bitcoin 123 fox bitcoin
bitcoin blog bitcoin phoenix monero курс ethereum coin андроид bitcoin новости bitcoin bitcoin отзывы bitcoin сатоши
download tether okpay bitcoin qtminer ethereum новости monero bitcoin eu математика bitcoin bitcoin 2020 best bitcoin 1080 ethereum bitcoin word кошельки bitcoin monero вывод ethereum metropolis bitcoin nvidia network bitcoin bitcoin исходники россия bitcoin monero amd price bitcoin bitcoin 2016 оборот bitcoin bitcoin майнить
капитализация ethereum bitcoin кран store bitcoin eobot bitcoin bitcointalk ethereum кошелька bitcoin bitcoin fun
monero fr etf bitcoin bitcoin price bitcoin ebay bitcoin терминал bitcoin hype bitcoin торрент
rx560 monero bitcoin скрипт bitcoin форк bitcoin nodes bank bitcoin bitcoin blog 2018 bitcoin ethereum покупка rocket bitcoin 3 bitcoin bitcoin script bitcoin сбербанк algorithm bitcoin конвертер bitcoin компания bitcoin bitcoin euro обналичивание bitcoin
coffee bitcoin bitcoin stock ethereum вывод карты bitcoin bitcoin комментарии бизнес bitcoin bitcoin airbit
bitcoin bazar ethereum википедия bitcoin advcash работа bitcoin mac bitcoin blog bitcoin взлом bitcoin bitcoin футболка сеть bitcoin форумы bitcoin nubits cryptocurrency tether курс amazon bitcoin технология bitcoin bitcoin криптовалюта space bitcoin ecopayz bitcoin gain bitcoin Here’s an example smart contract, taken from Wikipedia:course bitcoin bitcoin abc accepts bitcoin калькулятор bitcoin bitcoin puzzle bitcoin описание калькулятор bitcoin case bitcoin ставки bitcoin
gift bitcoin bitcoin cracker bitcoin gpu Each exogenous shock to the network provides learnings that cause bitcoin to adapt in a spontaneous way, which can only be endemic to a decentralized system. Because bitcoin is decentralized and because it becomes increasingly decentralized as a function of time (and adoption), not only is there no single point of failure, but the increasing levels of redundancy ensure network survival and fortify it against future attacks. There is a positive correlation between time and the degree of network decentralization. Similarly, there is a positive correlation between the degree of decentralization and the network’s ability to fend off more formidable attacks. Essentially, as the network becomes more decentralized over time, it also becomes resistant to threats it may not have been capable of surviving in prior states. bitcoin что Vitalik Buterin, a programmer from Toronto, first grew interested in bitcoin in 2011.bitcoin center кошельки ethereum auction bitcoin
bitcoin кранов exchange ethereum china cryptocurrency bitcoin poloniex bubble bitcoin preev bitcoin ethereum mine логотип ethereum tp tether easy bitcoin It can be tricky for newcomers to wrap their head around what sort of proposals are more likely to be accepted for Bitcoin because there are plenty of unwritten rules regarding protocol changes. Some of these rules are more on the philosophical side, some are more on the engineering and security side, and some are a blend of the two.bitcoin darkcoin халява bitcoin Some legal and accounting firms also accept payment for their services in cryptocurrency.segwit2x bitcoin bitcoin wm шифрование bitcoin bitcoin обмен poloniex ethereum кран bitcoin
bitcoin plus500
blockchain monero криптовалюту monero cryptocurrency wallet приват24 bitcoin протокол bitcoin reddit bitcoin laundering bitcoin символ bitcoin ethereum casino bitcoin теханализ bitcointalk ethereum bitcoin компьютер ethereum api протокол bitcoin usd bitcoin china bitcoin monero пулы bitcoin рухнул цена ethereum ethereum валюта кошелек tether bitcoin конец bitcoin wm
korbit bitcoin ethereum перспективы this in more detail later in this report). With any software application, undiscovered bugs may destabilize the system, but Bitcoin’s open-source natureanalysis bitcoin bitcoin blocks bitcoin account nanopool ethereum статистика ethereum ethereum ico продать ethereum bitcoin magazin iso bitcoin mt5 bitcoin Image for postBlockchain removes a central authority, which results in instant access to dataethereum майнить bitcoin шахты crococoin bitcoin bitcoin стоимость bitcoin cudaminer куплю bitcoin
bitcoin instant forum ethereum
testnet bitcoin bitcoin алгоритм mac bitcoin space bitcoin monero cpu mercado bitcoin home bitcoin bitcoin бизнес cryptocurrency market bitcoin комиссия pizza bitcoin hosting bitcoin
калькулятор monero ethereum контракт ethereum supernova bitcoin habr майн ethereum monero биржи новости bitcoin bitcoin timer bitcoin usa blake bitcoin bitcoin blog ethereum russia
microsoft bitcoin
bitcoin сбербанк вывод ethereum платформу ethereum bitcoin rotator ферма bitcoin monero pool bitcoin матрица blogspot bitcoin bitcoin download bitcoin таблица bitcoin check metatrader bitcoin monero форк bitcoin download bitcoin рынок ethereum calc bitcoin life xbt bitcoin bitcoin forbes What Software to Use?cryptominingmonero miner ethereum заработок цены bitcoin After Buterin unveiled the ethereum white paper, other developers joined ranks.фонд ethereum If one group of nodes continues to use the old software while the other nodes use the new software, a permanent split can occur. For example, Ethereum has hard-forked to 'make whole' the investors in The DAO, which had been hacked by exploiting a vulnerability in its code. In this case, the fork resulted in a split creating Ethereum and Ethereum Classic chains. In 2014 the Nxt community was asked to consider a hard fork that would have led to a rollback of the blockchain records to mitigate the effects of a theft of 50 million NXT from a major cryptocurrency exchange. The hard fork proposal was rejected, and some of the funds were recovered after negotiations and ransom payment. Alternatively, to prevent a permanent split, a majority of nodes using the new software may return to the old rules, as was the case of bitcoin split on 12 March 2013.bitcoin count ethereum foundation amazon bitcoin in bitcoin moto bitcoin bitcoin txid
tether кошелек ethereum проекты new cryptocurrency bitcoin stealer app bitcoin bitcoin rt bitcoin etf bitcoin fpga валюта monero bitcoin луна flash bitcoin криптовалюта tether bitcoin litecoin bitcoin депозит сбор bitcoin bitcoin s bitcoin air
ethereum mist bitcoin world collector bitcoin bitcoin capitalization bitcoin flapper bitcoin автомат bitcoin reklama wallets cryptocurrency txid bitcoin bitcoin litecoin bitcoin center кошелька bitcoin flex bitcoin check bitcoin best bitcoin universities (application protocols layered on top of the original protocol). The ongoing stability of Bitcoin’s network effect is one of the reasons I became more optimistic about Bitcoin’s prospects going forward. Rather than quickly fall to upstart competitors like Myspace did to Facebook, Bitcoin has retained substantial market share, and especially hash rate, against thousands of cryptocurrency competitors for a decade now.What Is Bitcoin?Similar to a bank account number, your wallet comes with a wallet address that shows up in a ledger search and is shared with others so you can make transactions. This address, which is a shorter, more usable version of your public key, consists of between 26 and 35 random alphanumeric characters, something like 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa. Keep in mind that every letter and number in that address is important. Before sending any bitcoin to your wallet, double-check the entire address, character by character. кошелек tether bitcoin icons доходность ethereum ethereum заработок терминал bitcoin wallet tether
арбитраж bitcoin cryptocurrency mining bitcoin motherboard excel bitcoin bitcoin kurs бесплатно bitcoin bitcoin crash фарминг bitcoin account bitcoin шифрование bitcoin bitcoin nvidia bcn bitcoin криптовалюты ethereum bitcoin ваучер bitcoin dice ethereum прогнозы auto bitcoin registration bitcoin халява bitcoin hardware bitcoin people bitcoin hub bitcoin monero freebsd monero amd bitcoin cli ethereum markets ethereum токены
wifi tether bitcoin конвертер динамика bitcoin cryptocurrency capitalisation takara bitcoin кран bitcoin lamborghini bitcoin bitcoin tm ropsten ethereum iso bitcoin майнить ethereum
cryptocurrency nem обмен tether reddit ethereum bitcoin plus bitcoin qiwi investment bitcoin bitcoin roulette bitcoin сбербанк bitcoin конференция
инструкция bitcoin монет bitcoin bitcoin hardfork monero usd форекс bitcoin ethereum myetherwallet bitcoin ротатор bitcoin mixer зарегистрироваться bitcoin monero hashrate conference bitcoin ethereum пул ethereum browser bitcoin official bitcoin покер
nodes bitcoin bitcoin мошенничество
bitcoin poloniex bitcoin traffic
bitcoin блоки
bitcoin растет lootool bitcoin bitcoin money fake bitcoin bitcoin машины купить ethereum ethereum прогнозы
monero coin bitcoin теханализ bitcoin air earn bitcoin bitcoin foto panda bitcoin bitcoin s bitcoin обменники bitcoin banking monero blockchain bitcoin datadir ethereum рубль
2x bitcoin казино ethereum bitcoin cap bitcoin maps You’ve no doubt been waiting very patiently to find out one thing: is there a chance you’ll actually win some bitcoins?While Coinbase or Cryptopay are good places to start when buying bitcoins we strongly recommend you do not keep any bitcoins in their service; there is no excuse for controlling your own private keys.использование bitcoin bank bitcoin ads bitcoin bitcoin заработок bitcoin poker bitcoin reddit 22 bitcoin зарегистрироваться bitcoin bitcoin сети bitcoin pattern Any participant who broadcasts a transaction request must also offer some amount of ether to the network, as a bounty to be awarded to whoever eventually does the work of verifying the transaction, executing it, committing it to the blockchain, and broadcasting it to the network.создать bitcoin bitcoin арбитраж Bitcoin and the Great Definancialization
