Reward-Drop ETA date: 18 Aug 2019 13:48:51 Litecoin's block mining reward halves every 840,000 blocks, the coin reward will decrease from 25 to 12.5 coins.You can watch an educational video by the Litecoin Association explaining it in more detail below:Litecoin DEFINITION of 'Litecoin' Launched in the year 2011, Litecoin is an alternative cryptocurrency based on the model of Bitcoin.Charlie Lee, a MIT graduate and former Google engineer, is Litecoin's creator.Litecoin is based on an open source global payment network that is not controlled by any central authority.Litecoin differs from Bitcoins in aspects like faster block generation rate and use of scrypt as a proof of work scheme.BREAKING DOWN 'Litecoin' Litecoins were launched with the aim of being the "silver" to Bitcoin's "gold," and have gained much popularity since the time of inception.Litecoin is a peer-to-peer internet currency.It is a fully decentralized open source, global payment network.Litecoin was developed with the aim to improve on Bitcoin's shortcomings, and has earned industry support along with high trade volume and liquidity over the years.

The broader differences between the two cryptocurrencies are listed in the table below.Bitcoin Litecoin Creation 2009 2011 Creator Satoshi Nakamoto Charles Lee Coin Limit 21 Million 84 Million Block Generation Time 10 Minutes 2.5 Minutes Algorithm SHA-256 Scrypt Initial Reward 50 BTC 50 BTC Current Block Reward (as of June 2014) 25 BTC 50 BTC Rewards Halved every 210,000 blocks Halved every 840,000 blocks Difficulty Retarget 2016 Block 2016 Block Litecoin is designed to produce more coins (Four times that of Bitcoin) and at a faster rate (1/4th of the time of Bitcoin).Overall, Litecoin is seen as second to Bitcoins in value, but Litecoins are more easily obtainable and transactional.On April 17, Bitmain’s mining pool Antpool’s hashrate abruptly surged by around 20 percent in a period of few hours, from 200 to nearly 500 GH/S.Some members of the bitcoin community accused Bitmain of deliberately preventing the activation of Segregated WItness (Segwit) on Litecoin.

As Coinbase Director of Engineering and Litecoin founder Charlie Lee , on April 12, Segwit reached its 75 percent activation threshold on Litecoin.Following the successful signaling of Segwit, its activation period began on April 14, set to continue for two additional weeks.For Segwit to be fully activated on Litecoin, it needs over 75 percent support from miners during that two week period.bitcoin getting crushedIf it fails to maintain its support threshold for 14 days, even if the initial threshold of 75 percent was met, Segwit will not be activated on Litecoin.ethereum czBitmain’s Antpool is suspected of increasing its hashrate allocation to Litecoin significantly with the intent of postponing the activation of Segwit.bitcoin ptc sites

Two days ago, traders and analysts within the Litecoin community stated that if Antpool’s hashrate is sustained at the current level, there is a high probability of Segwit activation being terminated.Someone must have hacked Antpool.They are signaling pro Segwit now./svSKmn2Kly — WhalePanda (@WhalePanda) April 17, 2017 According to , a platform developed to show the current Segwit activation process, Segwit is not active.bitcoin wallet distributionIt is at 72.37 percent, slightly below the 75 percent threshold required to be activated on Litecoin.ethereum long term potentialAlthough it could completely coincidental that Antpool’s Litecoin hashrate exponentially increased during the Segwit activation period, there are a few reasons why Bitmain would want to delay or even terminate the activation process of Segwit on Litecoin.bitcoin gtx 480

Some of the largest mining pools such as Bitfury and F2Pool, the second and third largest bitcoin mining pools, are in support for Segwit activation on bitcoin.The rest however is planning to consider the impact of Segwit on Litecoin’s on-chain and off-chain scaling and only show support for Segwit if it is successfully adopted by Litecoin.Antpool is one of the few major mining pools to reject Segwit activation on both Litecoin and bitcoin.bitcoin end povertySince the mining pool understands that successful adoption of Segwit on Litecoin could likely lead to the activation of Segwit on bitcoin, Bitmain could be motivated to stop Segwit activation on Litecoin at all costs.ethereum buy netherlandsIn the past few days, Antpool also demonstrated some strange behaviors which misled the bitcoin and mining communities.anunturi bitcoin

On April 17, bitcoin trader WhalePanda discovered that Antpool was signaling Segwit on Litecoin.He noted that Antpool could have been hacked by an undisclosed group of hackers who are motivated to activate Segwit on Litecoin.Misunderstanding the situation, F2Pool owner Wang Chun urged the community to show appreciation to Antpool and Jihan Wu for signaling Segwit on Litecoin.After realizing that Antpool stopped signalling for Segwit, Chun Antpool is big and has lots of mining servers.They must have got some temporary tech difficulties.I believe they’ll restart signaling soon.Chun explained that Antpool will likely restart signaling Segwit on Litecoin.Whether if this is true or not will proven by Antpool’s future decisions.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