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.
2018 bitcoin
bootstrap tether torrent bitcoin raspberry bitcoin dapps ethereum bitcoin скрипт bitcoin kurs книга bitcoin tether coin бесплатный bitcoin bitcoin girls bitcoin создатель настройка ethereum wechat bitcoin cryptocurrency calendar
bitcoin accelerator bitcoin компьютер register bitcoin bitcoin auto In September 2011, this method suggested that there were about 60,000 users.bitcoin conf coinder bitcoin The velocity of the United States M2 (moderately liquid) money supply (shown here) hit a high of 2.2 in 1997 and is currently at less than 1.5.world bitcoin Blockchain Career Guide1 ethereum faucet cryptocurrency short bitcoin ltd bitcoin bitcoin reserve ethereum капитализация кошельки bitcoin использование bitcoin 5 bitcoin Protocol changes, also known as hard forks, can be 'planned' or 'unplanned'. A reason for a planned fork may be to adapt the system to manage new needs, introduce security protocols, or streamline the mining process, amongst other possibilities. Unplanned forks may be a result of discovered security flaws that some feel should not be patched, or other events that do not reach a consensus on how to address it. For example, a cyber attack may encourage network miners to adopt changes to the protocol while others want to keep to the old protocol and address concerns as needed. The largest example of this is the break between Ethereum and Ethereum Classic.multiply bitcoin проверка bitcoin online bitcoin tether перевод bitcoin биржи maps bitcoin ocean bitcoin bank bitcoin bitcoin аналитика sgminer monero
ico bitcoin bitcoin мавроди tether программа bitcoin dynamics bitcoin daily cryptocurrency arbitrage blog bitcoin майнить bitcoin майнер bitcoin bitcoin tm биржа ethereum bitcoin word bitcoin видеокарты purchase bitcoin bitcoin doge
доходность ethereum bitcoin приват24 mixer bitcoin webmoney bitcoin
bitcoin trezor краны monero Bitcoin, Ethereum, and other crypto are revolutionizing how we invest, bank, and use money. Read this beginner’s guide to learn more.ethereum валюта bitcoin people remix ethereum tether usdt фермы bitcoin бесплатный bitcoin ethereum пулы index bitcoin bitcoin mt4 monero usd
matrix bitcoin bitcoin zona стоимость monero создать bitcoin market bitcoin generator bitcoin bitcoin mastercard tether android enterprise ethereum видеокарты ethereum bitcoin forbes
ethereum algorithm bitcoin asics смесители bitcoin bitcoin бесплатный
зарегистрироваться bitcoin rpg bitcoin tether майнинг bitcointalk monero bitcoin пожертвование phoenix bitcoin bitcoin kz bitcoin motherboard bitcoin сервисы monero logo
monero xmr
ethereum доходность ethereum аналитика location bitcoin bitcoin weekly rate bitcoin bitcoin london основатель ethereum dat bitcoin bitcoin заработка equihash bitcoin bitcoin спекуляция bitcoin hunter биржа bitcoin калькулятор ethereum forecast bitcoin mineable cryptocurrency locals bitcoin bitcoin arbitrage blocks bitcoin bitcoin аналоги ethereum покупка
bitcoin information
ethereum продам оборудование bitcoin робот bitcoin bitcoin математика проверка bitcoin asics bitcoin bitcoin drip bitcoin start solo bitcoin ethereum investing bitcoin explorer сатоши bitcoin bitcoin alien
получить bitcoin
bitcoin abc prune bitcoin bitcoin hosting форк bitcoin generation bitcoin bitcoin exchanges
обменники bitcoin bitcoin qazanmaq ethereum обменять bitcoin сша bitcoin падает ethereum stats
mail bitcoin bitcoin обмен x2 bitcoin ethereum farm bitcoin индекс spin bitcoin laundering bitcoin ethereum сбербанк баланс bitcoin bitcoin автосерфинг miningpoolhub monero kurs bitcoin casino bitcoin bitcoin check bitcoin pools ledger bitcoin system bitcoin cryptocurrency logo бот bitcoin bitcoin linux cnbc bitcoin ротатор bitcoin ethereum rub q bitcoin ethereum classic usb tether bitcoin office zebra bitcoin bitcoin анимация bitcoin trading bitcoin обменять bitcoin okpay win bitcoin заработок ethereum форумы bitcoin bitcoin куплю Cryptocurrencybitcoin fire андроид bitcoin bistler bitcoin запросы bitcoin 9000 bitcoin bitcoin отслеживание ethereum developer перевести bitcoin rates bitcoin кости bitcoin avatrade bitcoin british bitcoin bitcoin gadget ethereum mining сайт ethereum блокчейн ethereum
взлом bitcoin сложность monero bitcoin кэш bitcoin trading monaco cryptocurrency
bitcoin видеокарта rx470 monero reddit cryptocurrency bitcoin будущее bitcoin electrum криптовалют ethereum bitcoin gif
ethereum dag ethereum mist bitcoin foto explorer ethereum Manual KeystoreThe cryptocurrency itself is not in the wallet. In the case of bitcoin and cryptocurrencies derived from it, the cryptocurrency is decentrally stored and maintained in a publicly available distributed ledger called the blockchain.bitcoin адрес rush bitcoin bitcoin c торговать bitcoin bitcoin coingecko tether android node bitcoin монета ethereum
инструкция bitcoin ethereum pow bitcoin official half bitcoin 16 bitcoin чат bitcoin Announcing the first release of Bitcoin, a new electronic cash system that uses a peer-to-peer network to prevent double-spending. It’s completely decentralized with no server or central authority. – Satoshi Nakamoto, 09 January 2009, announcing Bitcoin on SourceForge.What Is Short-term Investing?партнерка bitcoin обмен monero bitcoin delphi транзакции bitcoin bitcoin algorithm cryptocurrency gold bitcoin рбк bitcoin 100 reddit bitcoin mercado bitcoin арбитраж bitcoin monero minergate site bitcoin gift bitcoin monero hardfork bcn bitcoin bitcoin services magic bitcoin сети ethereum bitcoin antminer donate bitcoin запуск bitcoin bitcoin скрипты keystore ethereum monero пул серфинг bitcoin ethereum browser bitcoin instant Step 1 – Getting a Litecoin WalletWhat is SegWit and How it Works Explainedcoindesk bitcoin конвертер ethereum bitcoin автоматически bitcoin multiplier wikipedia bitcoin strategy bitcoin A general outline for how to code a DAO is as follows. The simplest design is simply a piece of self-modifying code that changes if two thirds of members agree on a change. Although code is theoretically immutable, one can easily get around this and have de-facto mutability by having chunks of the code in separate contracts, and having the address of which contracts to call stored in the modifiable storage. In a simple implementation of such a DAO contract, there would be three transaction types, distinguished by the data provided in the transaction:ethereum ann сайте bitcoin bitcoin казино ecopayz bitcoin инвестирование bitcoin обменники ethereum icons bitcoin cryptocurrency mining games bitcoin monero windows форекс bitcoin Final Thoughtssecp256k1 ethereum ethereum обозначение asics bitcoin cryptocurrency price bitcoin torrent bitcoin people
red bitcoin смесители bitcoin xmr monero
dash cryptocurrency bitcoin лого bitcoin donate matteo monero bitcoin kurs
bitcoin hashrate перспективы bitcoin store bitcoin
capitalization bitcoin добыча ethereum бесплатно bitcoin бесплатный bitcoin mmm bitcoin bitcoin софт алгоритм bitcoin monero краны ютуб bitcoin secp256k1 bitcoin casascius bitcoin bitcoin frog bitcoin reindex cubits bitcoin ethereum info банк bitcoin bitcoin froggy контракты ethereum hash bitcoin эмиссия ethereum transaction bitcoin рост bitcoin китай bitcoin p2pool bitcoin monero node bitcoin hash bitcoin safe bitcoin википедия ethereum клиент алгоритм bitcoin контракты ethereum habrahabr bitcoin
tether пополнение
bitcoin hunter математика bitcoin bitcoin anonymous bitcoin china adbc bitcoin bitcoin security программа bitcoin bitcoin scam avto bitcoin ethereum рост bubble bitcoin ethereum shares ethereum заработок course bitcoin bitcoin вконтакте ethereum ротаторы bitcoin spend bitcoin easy bitcoin bitcoin check bitcoin сеть monero wallet alpha bitcoin bank cryptocurrency
boom bitcoin buying bitcoin ethereum news x2 bitcoin bitcoin луна
polkadot блог Ключевое слово start bitcoin tether обменник bitrix bitcoin clame bitcoin ethereum info bitcoin фарминг бот bitcoin
ethereum crane decred cryptocurrency bitcoin all lamborghini bitcoin bitcoin course
bitcoin machine monero cpu bitcoin office x2 bitcoin доходность bitcoin ethereum serpent master bitcoin bitcoin зебра график ethereum bitcoin galaxy bitcoin будущее bcn bitcoin service bitcoin blue bitcoin bitcoin widget ethereum mining bitcoin usb bitcoin change
bitcoin продать wmx bitcoin ethereum coin bitcoin joker ethereum buy
box bitcoin maining bitcoin bitcoin china kran bitcoin ethereum project ethereum habrahabr dollar bitcoin bitcoin статья bitcoin автосерфинг geth ethereum ethereum testnet
bitcoin анализ cap bitcoin bitcoin nachrichten bitcoin автоматически etoro bitcoin
1 ethereum bus bitcoin checker bitcoin bitcoin blockstream кошель bitcoin график ethereum
bitcoin trezor bitcoin символ перспектива bitcoin bitcoin cranes bitcoin обозначение loco bitcoin
nanopool monero торрент bitcoin уязвимости bitcoin
bitcoin boom tether программа сигналы bitcoin
зарабатывать bitcoin bitcoin airbit blogspot bitcoin bitcoin debian
ethereum chaindata
ethereum доходность bitcoin grant bitcoin прогнозы talk bitcoin bitcoin demo forum bitcoin кошелька bitcoin теханализ bitcoin bitcoin прогнозы japan bitcoin casino bitcoin
bitcoin автоматически bitcoin рублях
bitcoin site seed bitcoin
auto bitcoin bitcoin metatrader bitcoin converter ethereum логотип make bitcoin bitcoin services wirex bitcoin hd7850 monero
nicehash bitcoin
bitcoin russia bitcoin base bitcoin count расчет bitcoin bitcoin genesis best bitcoin
bitcoin часы bitcoin пирамиды игра ethereum
форк bitcoin bitcoin legal ethereum telegram hd bitcoin анонимность bitcoin
bitcoin pizza ethereum wallet bitcoin faucets monero стоимость coindesk bitcoin bitcoin brokers транзакции ethereum monero blockchain обменник tether форк bitcoin
bitcoin hunter moneybox bitcoin форк bitcoin bitcoin валюта nicehash monero monero blockchain bitcoin funding dark bitcoin суть bitcoin падение bitcoin bitcoin loans ethereum сайт bitcoin php
акции bitcoin bitcoin валюта
super bitcoin график bitcoin monero hardfork ethereum создатель keepkey bitcoin bitcoin eobot monero cryptonight
accepts bitcoin ethereum биткоин bitcoin maps china bitcoin bitcoin конвектор ethereum developer бесплатно ethereum balance bitcoin monero cryptonight bitcoin microsoft bitcoin суть addnode bitcoin bitcoin автоматический пополнить bitcoin
bitcoin block bitcoin значок github bitcoin ethereum platform луна bitcoin Who are your team? What have they done in the past? How are they qualified for the job?Marketing for your ICOхайпы bitcoin bitcoin стоимость bitcoin home
connect bitcoin bitcoin 100 cryptocurrency это bitcoin реклама bitcoin nedir dapps ethereum bitcoin fan bitcoin get bitcoin pattern bitcoin торги книга bitcoin ethereum обменять bitcoin парад stealer bitcoin bitcoin ads ethereum coingecko maps bitcoin monero пул кредит bitcoin bitcoin значок казино ethereum ethereum org
purse bitcoin instaforex bitcoin bitcoin air перевод ethereum bitcoin bbc bitcoin metatrader ethereum падает
bitcoin links alien bitcoin cryptocurrency calendar web3 ethereum monero форум mt4 bitcoin иконка bitcoin bounty bitcoin bitcoin calculator шифрование bitcoin bitcoin dollar lottery bitcoin logo bitcoin credit bitcoin dog bitcoin генераторы bitcoin
bitcoin torrent клиент ethereum explorer ethereum ethereum обозначение bitcoin расшифровка
обменники bitcoin bitcoin видеокарты trinity bitcoin арбитраж bitcoin bitcoin видео bitcoin daemon ethereum бесплатно
stats ethereum япония bitcoin платформу ethereum bitcoin pizza майнер monero перспективы bitcoin ethereum контракт биржа ethereum
взлом bitcoin bitcoin сети iso bitcoin kinolix bitcoin
bitcoin spinner
bitcoin доходность китай bitcoin bitcoin fees miningpoolhub monero bitcoin перспектива технология bitcoin bitcoin роботы bitcoin ishlash bitcoin опционы
bitcoin андроид finex bitcoin monero coin bitcoin key прогнозы ethereum bitcoin get bitcoin проект metropolis ethereum solo bitcoin enterprise ethereum logo ethereum
технология bitcoin bitcoin block ethereum график
казино bitcoin bitcoin base fire bitcoin ethereum курс андроид bitcoin ethereum pow tether coin polkadot bitcoin видео bitcoin de locate bitcoin total cryptocurrency bitcoin автомат bitcoin вебмани ethereum пулы bitcoin будущее a situation that 'occurs when two or more blocks have the same block height':glossaryхайпы bitcoin bitcoin escrow bitcoin media ethereum картинки bitcoin plus bitcoin converter reverse tether bitcoin автоматический app bitcoin wikileaks bitcoin mikrotik bitcoin bitcoin ocean polkadot cadaver bitcoin click china cryptocurrency bitcoin обменники bitcoin ставки
half bitcoin half bitcoin miner monero matrix bitcoin plus bitcoin карты bitcoin форки ethereum bitcoin роботы bitcoin script компания bitcoin monero майнинг ethereum linux tether usb r bitcoin bitcoin cranes кошельки bitcoin
bitcoin dance ethereum pow
love bitcoin 