Litecoin following the bitcoin as most potential altercoin , If btc is gold than ltc is silver.
Litecoin (LTC) released on October 7, 2011, is currently the highest market value of altercurrency. And compared btc, ltc faster, on average 2.5 minutes a block, 15 minutes to complete six times to confirm. Also the number of btc ltc also four times the total number of pieces for the 84 million. Currently ltc using script algorithm requires a lot of memory support. professional bitcoin mining machine can not be used ltc mining , only with graphics cards and cpu.
LiteCoin is a simple variant of Bitcoin – with their own words: If Bitcoin is the currency of the world’s gold, we are the silver. It Bitcoin algorithm simple modification makes mining faster speed to four times as much, per transaction verification time is also a corresponding decline in the former 1/4. At the same time, with different algorithms rely bitcoin high-performance graphics processor , LiteCoin more dependent on CPU and memory, thereby reducing the hardware entry barriers . It can be said: LietCoin was “poor” Bitcoin, and bitcoin same strain.
Litecoin official website: http://www.litecoin.org
And BTC to be a simple comparison:
Total 21000000 84000000
Block time 10min 2.5min
Mining algorithm SHA256 scrypt
This is also a distributed (decentralized) digital currency. Unlike bitcoin mining algorithm using SHA256, LTC using scrypt algorithm. The unique algorithm is also critical to stand out from the cottage coins in, scrypt SHA256 algorithm uses as its subroutines, and scrypt itself requires a lot of memory, each hash used as seed input, and then require a lot of memory storage with another seed pseudo-random sequence, the common point to generate the pseudo-random sequence and the output of the hash value. In the BTC (Bitcoin) mining rely purely graphics mining has diminished (use graphics dug a general configuration BTC takes about a dozen to several days), all kinds of expensive mining machine appears to improve the common man by digging Mine get BTC threshold, while LTC has certain advantages in the use of PC graphics mining. (This paragraph comes to know almost.)
Litecoin contrast BTC technically do a little improvement, if we BTC is gold, that LTC is silver.
Litecoin biggest advantage is faster to confirm the authenticity of the virtual currency designed and maintained by Charles Lee. Bitcoin transactions require verification, validation average time of 10 minutes or more, most trading site verification requires one hour. Litecoin trade confirmations averaged 2.5 minutes, the developer claimed that shorten the verification increases the usefulness of virtual currency. Bitcoin mining machines and AMD GPU efficiency customize the highest CPU usage mining miners make almost unprofitable. Litecoin mining excluded GPU and custom processors, so not too dependent on a small number of professional miners.