Litecoin (LTC or Ł[1]) is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license.[2]Creation and transfer of coins is based on an open source cryptographic protocol and is not managed by any central authority.[2][3]While inspired by, and in most regards technically nearly identical to Bitcoin (BTC), Litecoin has some technical improvements over Bitcoin, and most other major cryptocurrencies, such as the adoption of Segregated Witness, and the Lightning Network.[4]These effectively allow a greater amount of transactions to be processed by the network in a given time, reducing potential bottlenecks, as seen with Bitcoin.[5]Litecoin also has almost zero payment cost and facilitates payments approximately four times faster than Bitcoin.[6]Contents 1 2 3 4 5 6 Litecoin was released via an open-source client on GitHub on October 7, 2011 by Charlie Lee, a former Google employee.It was a fork of the Bitcoin Core client, differing primarily by having a decreased block generation time (2.5 minutes), increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a slightly modified GUI.[7]

During the month of November 2013, the aggregate value of Litecoin experienced massive growth which included a 100% leap within 24 hours.[8]Litecoin reached a $1 billion marketcap in November 2013.[9]As of May 9, 2017, its market capitalization is US$1,542,657,077 at around $30 per coin.[10][11]In May 2017, Litecoin became the first of the top-5 (by market cap) cryptocurrencies to adopt Segregated Witness.[12]Later in May of the same year, the first Lightning Network transaction was completed through litecoin, transferring 0.00000001 LTC from Zurich to San Francisco in under one second.[13]Litecoin version 0.8.5.1 was released in November 2013.The release included fixes for vulnerabilities and added enhanced security to the Litecoin network.The Litecoin developer team released version 0.8.6.1 in early December 2013.The new version offered a 20x reduction in transaction fees, along with other security and performance improvements in the client and network.The source code and binaries were released early to people in the "#litecoin" IRC channel, on the official Litecoin forums, and on Reddit, with information for power users to add a Litecoin supernode to the configuration file, while the main site was to be updated after enough of the network was running the new version.

This release method was used to ensure that the low fee transactions from version 0.8.6.1 clients would not be delayed by clients running older versions.In April 2014, a new version of Litecoin was released, version 0.8.7.1, which fixed some minor issues along with an important fix related to the Heartbleed security bug.Litecoin offers three key differences from Bitcoin.The original intended purpose of using Scrypt was to allow miners to mine both Bitcoin and Litecoin at the same time.The choice to use scrypt was also partially to avoid giving advantage to video card (GPU), FPGA and ASIC miners over CPU miners.Due to Litecoin's use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.[16]This is widely due to the Scrypt hashing scheme being more memory intensive; increasing memory requirements for ASICs and FPGAs.^ ^ a b c ^ ^ ^ ^ ^ ^ ^ ^ /currencies/litecoin/ ^ ^ /Blockstream/status/862420329888595969 ^ ^ ^ ^ Cryptography portal Economics portal Free software portal Internet portal Numismatics portal

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.ethereum meetup333KH/s - 450 KH/s at 4-7 Watts through overclocking.buying bitcoin on krakenI ran these on 4 Watt Raspberry Pi, so the low energy costs beats most products on the market, even to this day.bitcoin manual miningProduct 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?litecoin linux install

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 Reviewsbitcoin mmoOn 4/20/14, Innosilicon announced sales of their A2 Terminator Scrypt ASIC on Bitcointalk and their website.bitcoin cleveland ohioInnosilicon is not a newcomer to the ASIC mining realm, by any means.They have previously completed the design and fabrication, through Global Foundries, of an A1 CoinCraft SHA-256 ASIC chip that was used in many cheap, ready-to-ship miners out of China in recent months.

From their A1 chips revenue,  Innosilicon was able to manufacture these  A2 Terminator Scrypt ASIC chips without crowdfunding through preorders, as many competitors have.Innosilicon is taking bulk orders for shipment in the next weeks via email and Skype.The A2 Scrypt ASIC chip is the first 28nm Scrypt ASIC to come to market.Innosilicon purposefully chose not to accept money until a prototype was filmed.Since Innosilicon is able to deliver 28nm sooner than all its competition, they are charging high prices (.However, even at these high prices, Scrypt ASICs will soon put GPU Scrypt miners out of business.[dropcap size=small]T[/dropcap]he last few weeks has seen a large increase in the Litecoin network difficulty.Experts in the Scrypt cryptocurrency space have postulated that many Dogecoin miners made the switch back to Litecoin due to the “halving happening” (halfening?)in Dogecoin block reward earlier this week.At Dogecoin’s 200,000th block, the amount of Dogecoin released to the miner of each block (the block reward) halved from 250,000Ð to 125,000Ð.

As often happens with block halvings, the exchange rate experienced a slight bump prior to the halfening as a combination of hype and miners drove the BTC/DOGE exchange rate up in an attempt to maintain the same mining profitability.Projecting mining profitability requires accounting for halfenings, and also the shipping dates of new technologies.In the days of yore, Scrypt miners were always aware of the next release date for AMD’s newest line of Radeon graphics cards.Nowadays, companies are spending effort posturing and undercutting each other’s prices while offering six month windows for their Scrypt ASICs to be delivered.Of course, for many, this style business practice is preferable to continuously missed deadlines, or entirely botched delivery batches.Another reason for the increased pace of difficulty jumps in Scrypt based cryptocurrencies is the fact that Gridseed miners have been leaking into brave miners’ hands over the last few months.Needless to say, the rising difficulty is just beginning.

Innosilicon is using the same PCB from the A1 Bitminers for the blades in these Scrypt ASICs.The advertised hashrate varies from 74 MH/s to 140 MH/s depending on how many blades and chips are put inside the box.The prototype only has 40 A2 chips and is able to achieve a hashrate of over 74 MH/s after 10 hours of stress testing.The A2 Terminator is presented in a server rack mountable 4U case with 3 efficient 120mm fans.Furthermore, the temperature on the heatsinks of the Scrypt ASIC blades within the Innosilicon A2 Terminator run at a temperature of 32 C, “which is very cool.”  The chips themselves hash at around ~1.7 MH/s for 13W and are also available for bulk order, as the A1 CoinCraft chips were before.Don’t be surprised when different Scrypt ASICs with fancy names run on A2 Scrypt ASIC chips also enter the market in months to come.(Original video was posted to youku) KnCMiner and Mining ASICs Technologies have both promised to deliver by the end of 2014.Fibonacci will begin deployment of their Scrypt ASICs sometime in July or August.