Share Available from these sellers.Used (1) from $65.00 + $5.49 shipping Gridseed ASIC Miner for Litecoin and Bitcoin Mining Available from these sellers.What other items do customers buy after viewing this item?2,784 Rev 2 GekkoScience 2-Pac Compac USB Stick Bitcoin Miner 15gh/s+ (BM1384x2) 8 816 Sabrent 13 Port High Speed USB 2.0 Hub with Power Adapter And 2 Control Switches (HB-U14P) 824 Product description Used in a farm dedicated to Scrypt mining exclusively.333KH/s - 450 KH/s at 4-7 Watts through overclocking.I ran these on 4 Watt Raspberry Pi, so the low energy costs beats most products on the market, even to this day.Product information Product Dimensions 5.6 x 5.2 x 3.8 inches Item Weight 1.2 pounds Shipping Weight 1.2 pounds Manufacturer Gridseed ASIN B00J4XPKJU Origin Imported Item model number USB MINI 5-CHIP GC3355 Customer Reviews 3.8 out of 5 stars Best Sellers Rank #18,929 in Industrial & Scientific > Industrial Electrical > Wiring & Connecting > Cables & Interconnects #29,105 in Electronics > Accessories & Supplies > Cables March 20, 2014 Warranty & Support Product Warranty: For warranty information about this product, please click here Feedback If you are a seller for this product, would you like to suggest updates through seller support?

Would you like to tell us about a lower price?See questions and answers 5 star55%4 star24%3 star7%2 star1%1 star13%See all verified purchase reviewsTop Customer ReviewsNeat first asic you will never make your money back ...Awesome sell Does what it's suppose toEasy setup, lots of fun, don't expect to make much money doing it.do not buy this.and still happy with amazonDecent Scrypt MinerBetter than advertised Customer Images See all customer images Most Recent Customer ReviewsSearch Customer ReviewsLitecoin, the world’s third largest cryptocurrency ($ 137,703,781 in marketcap) created in October 2011 by Former Google Engineer and current Coinbase Director of Engineering Charles Lee was popular among digital currency miners due to its implementation of a unique ASIC resistant proof of work algorithm called s-crypt (scrypt).ASIC stands for Application Specific Integrated Circuit and is used by miners to verify hashed transactions on litecoin and bitcoin networks.

Due to the network’s resistance to ASIC products, the number of miners rapidly increased and litecoin thrived for the past 4 years.However, since early 2014, mining hardware companies including Alpha Technology have begun to litecoin specific ASIC products, offering to both individual miners and prominent transaction processing companies.Suddenly, the block difficulty spiked.Litecoin wasn’t “ASIC resistant” anymore.The one difference which differentiated Litecoin from other major digital currencies like bitcoin became redundant.bitcoin loan without verificationOn August 25, 2015, the block reward for Litecoin halved, from 50 to 25 LTC, amidst the growing concerns about the block difficulty and profitability of mining litecoins.litecoin data apiThe significant decline in block reward which was already fairly low as is, led to the downfall of the several Litecoin mining operations and individual miners processing transactions on the network using ASIC miners.bitcoin calculate public key from private key

The majority of individual miners won’t able to afford the costs of electricity and ASIC miners needed to maintain its computing power to continue their operations.In response, the Litecoin association that the decreased supply growth may raise the price of the currency which could potentially stabilize the income of miners.However, the decline in the block reward may dwindle the number of miners in the network which ultimately could lead to a more centralized network due to the failure in the distribution of network hash rate.piattaforme bitcoinThe market-cap of litecoin has declined by over 30% in the past few weeks, and is predicted to hit its yearly low in upcoming weeks.litecoin to nxtLast updated 2nd April 2014.tpp bitcoinIn 2009, Satoshi Nakamoto launched bitcoin as the world's first cryptocurrency.ethereum documentary

The code is open source, which means it can be modified by anyone and freely used for other projects.Many cryptocurrencies have launched with modified versions of this code, with varying levels of success.Litecoin was announced in 2011 with the goal of being the 'silver' to bitcoin's 'gold'.At the time of writing, Litecoin  has the highest market cap of any mined cryptocurrency, after bitcoin.Here's our guide to show you the crucial difference between bitcoin and litecoin.At-a-glance differences bitcoin litecoin Coin limit 21 Million 84 Million Algorithm SHA-256 Scrypt Mean block time 10 minutes 2.5 minutes Difficulty retarget 2016 block 2016 blocks Block reward details Halved every 210,000 blocks.bitcoin foundation voteHalved every 840,000 blocks Initial reward 50 BTC 50 LTC Current block reward 25 BTC 50 LTC Block explorer blockchain.info Created by Satoshi Nakamoto Charles Lee Creation date January 3rd, 2009 October 7th, 2011 Market cap $10,467,596,650.78 $540,274,528.26 Bitcoin Statistics Litecoin Statistics Mining differences Just like bitcoin, litecoin is a crytocurrency that is generated by mining.bitcoin zuverlässig

Litecoin was created in October 2011 by former Google engineer Charles Lee.The motivation behind its creation was to improve upon bitcoin.The key difference for end-users being the 2.5 minute time to generate a block, as opposed to bitcoin's 10 minutes.Charles Lee now works for Coinbase, one of the most popular online bitcoin wallets.For miners and enthusiasts though, litecoin holds a much more important difference to bitcoin, and that is its different proof of work algorithm.Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing.It is this characteristic that has given rise to the intense race in ASIC technology, and has caused an exponential increase in bitcoin's difficulty level.Litecoin, however, uses the scrypt algorithm – originally named as s-crypt, but pronounced as 'script'.This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin.Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone.

As a result, scrypt is known as a 'memory hard problem'.The consequences of using scrypt mean that there has not been as much of an 'arms race' in litecoin (and other scrypt currencies), because there is (so far) no ASIC technology available for this algorithm.However, this is soon to change, thanks to companies like Alpha Technologies, which is now taking preorders.To highlight the difference in hashing power, at the time of writing, the total hashing rate of the bitcoin network is over 20,000 Terra Hashes per second, while litecoin is just 95,642 Mega Hashes per second.For the time being, 'state of the art' litecoin mining rigs come in the form of custom PCs fitted with multiple graphics cards (ie: GPUs).These devices can handle the calculations needed for scrypt and have access to blisteringly fast memory built into their own circuit boards.There was a time when people could use GPU mining for bitcoin, but ASICs have made this method not worth the effort.Transaction differences The main difference is that litecoin can confirm transactions must faster than bitcoin.

The implications of that are as follows: Litecoin can handle a higher volume of transactions thanks to its faster block generation.If bitcoin were to try to match this, it would require significant updates to the code that everyone on the bitcoin network is currently running.The disadvantage of this higher volume of blocks is that the litecoin blockchain will be proportionately larger than bitcoin's, with more orphaned blocks.The faster block time of litecoin reduces the risk of double spending attacks – this is theoretical in the case of both networks having the same hashing power.A merchant who waited for a minimum of two confirmations would only need to wait five minutes, whereas they would have to wait 10 minutes for just one confirmation with bitcoin.Transaction speed (or faster block time) and confirmation speed are often touted as moot points by many involved in bitcoin, as most merchants would allow zero-confirmation transactions for most purchases.It is necessary to bear in mind that a transaction is instant, it is just confirmed by the network as it propagates.

Bitcoin Litecoin image via Flickr.Mining Rig image via Wikipedia.Mining USB devices Image via Shutterstock.This guide reveals how to buy litecoin using fiat currency or bitcoins.It's a decentralized digital currency Why Use Bitcoin?It's fast, cheap to use, and secure How Can I Buy Bitcoins?From an exchange or an individual How to Buy Bitcoin in the UK Buying bitcoin in the UK How to Store Your Bitcoins Use a digital or paper wallet What Can You Buy with Bitcoin?Spend your bitcoins How to Sell Bitcoin A guide on how to sell your bitcoins How to Accept Bitcoin Payments for Your Store Learn about bitcoin POS systems How do Bitcoin Transactions Work?Bitcoin addresses and private keys Is Bitcoin Legal?The current regulation around bitcoin Who is Satoshi Nakamoto?The founder of bitcoin How Bitcoin Mining Works By confirming transactions How to Set Up a Bitcoin Miner Generate bitcoins yourself What are Bitcoin Mining Pools?

What are pools how and how to join them?How Does Cloud Mining Bitcoin Work?Alternative bitcoin mining solutions How to Calculate Mining Profitability Can you make a ROI?How to Make a Paper Bitcoin Wallet Creating an unhackable bitcoin wallet What is the Difference Between Litecoin and Bitcoin?It's the silver to bitcoin's gold How to Buy Litecoin How to buy the bitcoin alternative litecoin How to Mine Litecoin and other Altcoins How to generate your own altcoins Understanding Bitcoin Price Charts A primer on bitcoin price charts Bitcoin E-Commerce Services for Merchants How to accept bitcoin at your business What is Blockchain Technology?A system of distributed data and logic How Does Blockchain Technology Work?Cryptographic keys, distributed networks and network servicing protocols What Can a Blockchain Do?Identity, recordkeeping, smart contracts and more What is a Distributed Ledger?A dynamic, independently maintained database What is the Difference Between Public and Permissioned Blockchains?

Can anyone read or write to the ledger?What is the Difference Between a Blockchain and a Database?It begins with architectural and administrative decisions What Are the Applications and Use Cases of Blockchains?Tokenization, auditing, governance, settlement and more How Could Blockchain Technology Change Finance?Cross-border payments, new asset classes, regulatory compliance and more What are Blockchain's Issues and Limitations?Complexity, size, costs, speed, security, politics and more Why Use a Blockchain?To manage and secure digital relationships as part of a system of record What is Ethereum?A blockchain application platform and 'world computer' What is Ether?The 'fuel' of the ethereum network How to Use Ethereum Wallets, trading and ‘dapps’ Who Created Ethereum?Vitalik Buterin How Ethereum Mining Works 'Proof of Work' and 'Proof of Stake' How to Mine Ethereum GPUs, mining software and pools How Ethereum Works 'Turing-complete' programming, 'state' and the 'EVM' What is a Decentralized Application?