HomeNewsCrypto Chinese Investors Start to Drive up the Litecoin Price Crypto, Newsby Tyler Durden While Bitcoin and Ethereum appear stuck in sideways limbo action after last week's "crash" from which they both rebounded promptly, other altcoins are gaining a lot of interest, mostly from Asian buyers in desperate need of a new bubble to chase higher.And Litecoin (which was recently added to Coinbase) is the cryptocurrency which has fallen squarely in their sights, having soared nearly 50% in the past 24 hours to over $48... ... approaching its all time highs.Having missed out on much of the surge in Bitcoin and Ethereum in recent weeks, Litecoin is, if only for the time being, the primary focus of cyrpto traders.With over $1 billion trading volume in 24-hours, Litecoin has become the latest darling of Chinese and Korean momentum chasers.A quick look at the source of activity reveals that over 50% of the volume is out of China and Korea.However, as the Merkel points out, the bigger question is why this price increase is happening right now.

One possible explanation points to concerns about the upcoming hurdle event for Bitcoin, where a looming chain split on August 1st has some people concerned.ethereal blade costIt is possible a chain split could hurt Bitcoin’s market position and another cryptocurrency may overtake it, especially with the market share of Ethereum soaring and poised to overtake Bitcoin (at the current pace of growh) in months.bitcoin dhsIt could also merely be another false breakout: there have been several LTC price rises over the past few months which never lasted long, even as BTC and ETH continued to soar.bitcoin core stuckThat said, the Litecoin community is delighted by today's price increase.ethereum struct

Things have been looking better for Litecoin, ever since it enabled Segregated Witness and Charlie Lee left Coinbase to focus on the digital silver.1 gh/s bitcoin calculatorTo be sure, with a market cap of "only" $2.5 billion (4th behind BTC, ETH and Ripple), the altcoin has a long way to go before catching up with Bitcoin at just under $44 billion.bitcoin negozio onlineA quick primer on Litcoin: launched in 2011, Litecoin was one of the first altcoins to gain significant traction.bitcoin creator deathAs opposed to some newer altcoins like Ethereum, Ripple and Monero, Litecoin is a straight fork of Bitcoin’s codebase but with a different mining algorithm and some changed parameters, such as faster confirmation times.ethereal knives gear

This similarity to Bitcoin does mean that Litecoin suffers from similar weaknesses as Bitcoin, like transaction malleability.red fury bitcoinUltimately, allegations that the move is merely another bubble forming (it is, but so is virtually every other asset class) or that LTC, like BTC and ETH, is merely rising due a result of the latest and greatest ponzi scheme will emerge.They may be right, but now that Asian buyers - whose remarkable resilience is well known to both Beijing and the PBOC - are involved, it is impossible to predict just how high this particular "bubble" will grow before bursting.This is an archived post.You won't be able to vote or comment.In China, Litecoin is not an altcoin (self.litecoin)submitted by Litecoin FounderAfter talking to some Litecoin supporters here in China, I just realized that they do not consider Litecoin as an altcoin.There's Bitcoin, Litecoin, and altcoins.It came about because they were telling me that they rarely ever trade in altcoins.

I was confused until I realized Litecoin does not fall under their categorization of altcoins.π Rendered by PID 12948 on app-518 at 2017-06-24 11:10:44.116812+00:00 running 3522178 country code: SG.Ehsminer, a Paris-based company specializing in IT security and worldwide promotion and adoption of cryptocurrencies, is not new to the mining industry.Haikel Ben Hmida, the company CEO, has been into mining since 2011.After ordering Bitcoin miners from Butterfly Labs he decided to launch his own mining product.The choice fell on Litecoin since that area was still uncharted with no competitors present.A company spokesperson told Cointelegraph: “Since the launch of Litecoin, mining is still profitable.It is Bitcoin mining which is considered difficult because of the mass of big players being in place.We are thinking to realize other miners specialized in X11 and even in private algorithms.We have gained experience during the last three years of experimentation.Bitcoin uses SHA256 as the only hashing function, and if it is broken, all the network will be compromised.

X11 uses a sequence of eleven scientific hashing algorithms for the proof of work, if ten of them are broken, the whole network remains working.Bitcoin cannot monopolize the cryptocurrency space.” Competing with China The company has grown and is now set to shake off Chinese manufacturers of mining equipment from the podium.It is already a great challenge to produce high-quality equipment and ensure profitability over a long period.Competition with China is quite fierce since everyone has to be aligned to market price and keep in parallel scalable and energy-friendly products.Besides, the memory cost and its power consumption is another pressing challenge for the industry.A Ehsminer spokesperson said: “Litecoin, Dashcoin, Zcash and others cryptocurrencies are ASIC-resistant.It means that there will be no significant speedup by implementing the algorithm in an ASIC, as compared to a CPU/GPU-based implementation.This is usually achieved by requiring a lot of memory, which when implementing this on an ASIC, translates to needing lots of physical area on the chip.

Also, this means that the ASIC will be so expensive that mining cannot be profitable.” Ehsminer develops its own mining architecture Ehsminer is taking the lead to resolve this problem by developing a low-cost, optimized and dedicated memory IP for the cryptocurrency industry.It has developed ACSMA, a Litecoin mining architecture, where every single asset is in continuous operation, and every step of the scrypt algorithm is mapped to an optimized unit.Looking at the architectural side of the multiple mining cores solutions, the Ehsminer team found that in all cores and at a particular time, only a small fraction of the electronics is used.Therefore, the company has come up with a new approach to connect unit cores and optimize the operation of transistors.According to the Ehsminer team: “The great barrier to carrying crypto algorithms to ASICS is memory and power consumption.For example, Zcash uses Equihash as a memory-oriented proof-of-work.This algorithm needs memory to function making the use of ASIC unprofitable given the cost of developing and producing the ASIC.

Our approach is to develop our own memory dedicated to these algorithms which will enable us to produce ASICS at low cost.This IP memory is under development in collaboration with one of our partners.” ACSMA has been designed to increase the hash rate by using an architecture organization.A company spokesperson told Cointelegraph: “We believe that at this point in time, this memory, which is considered as the denser part of a Litecoin miner, will be optimized in ways never seen before.We hope this will be enough to catch up with the current offerings.In our view, a 2Gh miner with new components will be possible at prices equivalent to those of the current Chinese offerings.” Another product currently being developed and tested by Ehsminer is a more classical Litecoin architecture similar to those already present on the market.The company is planning to produce this solution in 14nm following the demand.Username * First Name Last Name Email * Password * Repeat Password * You registration completed successfully.