The Litecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin.Miners are currently awarded with 50 new litecoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks).Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending litecoins.Litecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software.It is very easy to start using Litecoin.If you have never before then you can follow these steps to test your hardware: If you want to mine Litecoins with your CPU, double click on the file "MineWithCPU.bat" from the folder "Mine Litecoins with CPU".If your hardware can handle it, your computer will begin mining Litecoins for a test worker I've set up at the mining pool POOL-X.

It could take several minutes before you get a share though.Mining Litecoins with your CPU isn't very effective, but you can experience how it works by executing this file.If you want to mine Litecoins with your GPU, double click on the file "MineWithAMDGPU.bat" from the folder "Mine Litecoins with GPU/AMD" if your graphic card has been manufactured by AMD (Ati).If your card has been made by Nvidia, double click on the file "MineWithNvidiaGPU.bat" from the folder "Mine Litecoins with GPU/Nvidia".If your hardware can handle it, and the miner I've included recognizes correctly the graphical card you've got on your computer, it will begin mining Litecoins for another test worker I've set up at the mining pool POOL-X.It could take minutes before you get a share though.Mining Litecoins with your GPU is the way to go nowadays.There are people who have several graphic cards set up to mine Litecoins at the same time, so it might take you several days to get an entire Litecoin with a single GPU.

You can experience how GPU mining works on your card by executing the corresponding file though.Now that you have tested your hardware and know you can mine Litecoins correctly, you may join a mining pool and change the name of my workers and the URL of POOL-X which you can see if you edit the files "MineWithCPU.bat" and "MineWith(AMD/Nvidia)GPU.bat".Write instead the names of the workers you created on your pool of choice and its URL:port so as you can mine Litecoins for yourself (this URL:port information is given to you when you make an account on a mining pool).If you don't know how to join a mining pool then this may be a problem.If you want to mine Litecoins solo (it's a possibility if you have VERY good hardware), follow these steps: Copy the file "litecoin.conf" provided in this package to your Litecoin working directory (most likely "C:\Users\YOURNAME\AppData\Roaming\Litecoin").Now navigate to the directory where Litecoin was installed (most likely "C:\Program Files (x86)\Litecoin\") and execute litecoin-qt.exe.

Wait until you are fully synchronized with the network.Execute the file "SoloMineWithCPU.bat" from the folder "Mine Litecoins with CPU", the file "SoloMineWith(AMD/Nvidia)GPU.bat" from the folder "Mine Litecoins with GPU/(AMD/Nvidia)" or both of them.Your computer resources will begin mining Litecoins.bitcoin supply capIt could take you a LOT of time before you find a full block.best bitcoin ptcOr maybe you are extremely lucky and find one in one minute.bitcoin litecoin chartsIt's impossible to know!bitcoin bear whaleNote 1: the miner provided for CPU mining is Pooler's CPUminer 2.3.2, the one for AMD GPU mining is CGMiner 3.7.2 and the one for Nvidia GPU mining is CudaMiner-2013-11-15.bitcoin i svenska kronor

Other miners exist which might suit your hardware better and increase your mining speed.Note 2: some antivirus programs consider all cryptocoin miners malware.The problem is that some bad people included them inside other legit packages of software so as they would mine for them on other computers without their owner's knowledge.buy bitcoin with sms or telephone lineWhen they were found, antivirus companies labeled them as malicious software.bitcoin baliAccording to the Litecoin website, “Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world.” If you’re familiar with the digital currency Bitcoin, the above definition might sound similar.litecoin wallet with miningThat’s because Litecoin is based on Bitcoin’s open source codebase, but with a few technological differences.bitcoin price 2020

Litecoin was never intended to replace Bitcoin but to complement it like the silver to Bitcoin’s gold.This beginner’s guide should help those who are new to Litecoin to understand the high level differences between these two digital currencies.The great thing about open source software projects such as Bitcoin is that anyone in the world can fork the original codebase to include new features they want.The value assigned to each digital currency is determined by the community of adopters that decide to hold and use it.While Bitcoin is currently the largest digital currency by market capitalization, this doesn’t mean that there isn’t room for other digital currencies to coexist or to serve a specific use case or community.Litecoin founder Charlie Lee wanted to modify Bitcoin’s rules in ways he considered beneficial.Specifically Charlie wanted to reduce the amount of time required to confirm a new transaction as well as change the Bitcoin mining algorithm (the way new coins are generated) to ensure anyone could participate in the network.

Bitcoin’s transaction confirmation time is 10 minutes while Litecoin’s is only 2.5 minutes.Litecoin is able to process a higher volume of transactions due to the faster transaction confirmation time.Bitcoin mining uses the algorithm SHA-256 which is processor intensive while Litecoin mining uses scrypt which is more memory intensive.Early on Bitcoin was able to be mined using regular computers (CPUs) and later on more powerful gaming computers (GPUs).Now due to the increase in mining difficulty created by competition within the network the only way mining is profitable after accounting for electricity and mining equipment costs is through the use of Application Specific Integrated Circuit (ASIC) miners.These are expensive machines built specifically for mining and won’t be able to be used for anything else.Since only some people have the resources to buy and operate ASICs, Charlie did not want Litecoin mining to be dominated by ASICs.Therefore he created Litecoin with a more memory intensive mining algorithm to make mining Litecoin less efficient for ASICs and was more accessible to everyone.One important aspect of Litecoin is that its creator, Charlie Lee, is publicly known and actively participates in the cryptocurrency community.

The anonymous creator of Bitcoin, Satoshi Nakamoto, who has since disappeared, isn’t available to provide guidance and leadership over the technical direction of Bitcoin.Having the founder available is important when it comes to helping others understand and rally behind Litecoin’s vision.Currently, Charlie is pushing the community to support adding an upgrade to Litecoin called Segregated Witness (SegWit) that he and others believe will set the foundation for implementing future innovations.SegWit is essentially a change to the transaction data format that requires less storage space.This upgrade would allow for adding additional scaling innovations like Lightning Networks (LN) where transactions can quickly settle off blockchain meaning not all transactions will have to go through the public ledger.This upgrade is applicable to both Bitcoin and Litecoin.However Bitcoin requires 95% of miners to signal they are ready to support SegWit for activation to occur while Litecoin only requires 75%.

This lower consensus threshold in addition to an active founder means that it will be easier for Litecoin to push forward this change.Charlie wrote a letter to the Litecoin mining community to convince them to support SegWit.The benefits of having decentralized currencies is the creator can’t just implement things on their own.However, there are benefits to having a vocal leader to guide technological progress within a community, especially during a time when it is clear there needs to be a change or there is a major disagreement.The exciting part is that Litecoin can serve as a way for Bitcoin to see how these changes go.Litecoin has existed for almost as long as Bitcoin.There is already established infrastructure for Litecoin and exciting news that there might be major new developments on it soon.Below are some links that may help you understand Litecoin further and keep up with the development.Thank you to Will Warren and many Coinbase employees especially Charlie Lee and Jordan Clifford.