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mine litecoin or ethereum

And because Scrypt is less mathematically complex than SHA, Litecoin mining is way faster than bitcoin mining. A Litecoin block takes only. One point of comparison between Litecoin and Ethereum is their mining processes. Mining is the process by which certain crypto networks validate transactions. In technical details, the Litecoin main chain shares a slightly modified Bitcoin codebase. The practical effects of those codebase differences are lower. LEARN FOREX PRICE ACTION TRADING COURSE

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Mining Ethereum and Litecoin

An increasing number of people, however, are turning to this type of digital currency, entrusting their money and wallets to math instead of a centralized authority.

Mine litecoin or ethereum Litecoin produces lower transaction fees than Bitcoin and requires less time mine litecoin or ethereum mine. See full bio 5 min read Before you jump into this overview of a few cryptocurrency alternatives, check out our first two articles in this series, Bitcoin, explained and Buying and selling bitcoin. Less Energy Ethereum and Litecoin both require less energy for mining compared to Bitcoin. Designed with a different blockchain platform, Ethereum focuses on smart contracts, transfer of property and dApp production. It also uses a proof-of-stake platform read more of the proof-of-work process found in Litecoin. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Whether to Join a Pool Once you've decided what equipment you'll use to mine, you need to decide how to mine: solo or in a pool.
Top best forex traders This upgrade provides users with the option of sending confidential Litecoin transactions, in which the amount being sent is only known between the sender and receiver. Justin Jaffe Feb. Its creator is a known and active entity in the cryptocurrency community. Please visit our Cryptopedia Site Policy to learn more. While there may be some large-scale mining of XMR, there is mine litecoin or ethereum more retail crypto mining of XMR than some of the other blockchains that are dominated by huge industrial-scale mining operations. It differs from Bitcoin's SHA algorithm in part by including a sequential memory-hard functionrequiring asymptotically more memory than an algorithm which is not memory-hard.
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Trading in forex market kenya Litecoin and Ethereum are both popular for their short transaction times. The amount you spend will dictate how productive and profitable you are as a miner. For example, you might want to mine for some extra spending money, or you might want to mine and hold the Litecoin you receive as rewards. Litecoin was a source code fork of the Bitcoin Core client, originally differing by having a decreased block generation time 2. Litecoin produces lower transaction fees than Bitcoin and requires less time to mine. Ethereum utilizes a proof-of-stake approach to mining, which requires far less computational power, reduces the hardware requirements and ensures mine litecoin or ethereum equal access to the mining process.
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Forex trading platforms in nigeria the richest For starters, there is a huge assortment of crypto mining rigs from which you can choose. Ethereum awards five ether for each verified block, and litecoin awards 25 LTCs. The infrastructure decentralizes the management structure and includes a smart contract, which is basically a computer program that runs the entire organization. In the Ethereum kitchen, miners serve as the restaurant's landlord, compensated for providing the infrastructure so that Ether chefs can invent new types of cuisine. We also reference original research from other reputable publishers where appropriate.
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Created by Charles Lee, an engineer who later helped build Coinbase , the leading cryptocurrency exchange, Litecoin is based on the same code as bitcoin but with a few tweaks designed to address two of its predecessor's limitations: transaction speed and access to the mining process. And in , Ethereum made its debut, incorporating bitcoin's basic blockchain premise and Litecoin's pursuit of faster transaction speed, but adding a few of its own twists -- including the ability to process little chunks of code, called "smart contracts" -- and on its virtual peer-to-peer network as opposed to a dedicated server or mining rig.

Ripple Coinbase's support for bitcoin, Litecoin and Ethereum -- as well as Bitcoin Cash , a new branch of the bitcoin blockchain created in August -- helped install and keep them among the most visible and well-capitalized cryptocurrencies. Rounding out the top 10, in terms of market capitalization, is a dynamic shortlist that has included established coins and upstarts like Ripple , Cardano , Neo , Stellar , Eos and IOTA. For the purposes of introducing some of the prevailing concepts behind the growing population of cryptocurrencies, we'll take a closer look at the technologies behind Litecoin and Ethereum, how they compare to bitcoin and what they each bring to the table for prospective investors, miners and traders.

The central difference is that Litecoin is mined using the Scrypt algorithm , which is rooted in mathematical computations that are simpler than those used by bitcoin's SHA algorithm. As a result, in contrast to the specialized, super-expensive, energy-intensive mining rigs required to mine bitcoin, you can mine Litecoin with a decent laptop or desktop PC, especially if it's tricked out with a powerful graphics card.

Litecoin And because Scrypt is less mathematically complex than SHA, Litecoin mining is way faster than bitcoin mining. A Litecoin block takes only 2. So Litecoin transactions are also faster to process and confirm. Ethereum Ethereum. Funded in through an initial coin offering , Ethereum fancies itself "an enormously powerful shared global infrastructure" that, in addition to serving as a digital currency, runs special applications called "smart contracts.

Participants who consume computing power pay for it with tokens, called Ether; those who contribute processing power can earn them. Of course, buyers and sellers can simply trade Ether independently of these activities. Consider that bitcoin mining is akin to thousands of chefs feverishly racing to prepare a new, extremely complicated dish -- and only the first one to serve up a perfect version of it ends up getting paid. In the Ethereum kitchen, miners serve as the restaurant's landlord, compensated for providing the infrastructure so that Ether chefs can invent new types of cuisine.

In fact, a group of companies and universities has formed a nonprofit expressly to legitimize Ethereum; promote it as an open-source platform and not a commercial enterprise per se; and develop and support those applications that run on it. And these are not rinky-dink startups -- we're talking about major technology players like Intel and Microsoft and financial behemoths like JP Morgan and Credit Suisse.

Which cryptocurrency is the most valuable? Bitcoin remains the most visible and frequently traded cryptocurrency. Which one's the best for you? If only it was that easy. No one knows whether any cryptocurrency will increase in value -- or even be around in a year's time though we think the ones outlined in this article will check both of those boxes.

None of them are regulated yet and only individuals with the highest capacity for risk should get into the cryptocurrency market. That noted, there are significant differences among these three that could be used to form a rational basis for investing in or mining one over another. Bitcoin is the mainstream choice. If you're looking for a cryptocurrency with first-mover advantage, unmatched popular visibility and the highest market capitalization, it's a no-brainer.

Here are some characteristics that make Litecoin and Ethereum similar. Speedy transactions Even though Bitcoin transactions are processed faster than traditional banking transfers, it still lags behind Litecoin and Ethereum. Litecoin and Ethereum enable fast transactions even if they apply different methods to achieve those transaction speeds.

Fast transactions keep the currency on demand. Both apply the PoW validation method. Since their creation, and as of January , Litecoin and Ethereum both apply a mining method that works via the Proof of Work PoW system. The PoW system requires the use of computational power to solve a cryptographic equation for a block to be added to a chain. The cryptocurrencies may use different technical approaches, but they share one ultimate rule of PoW.

Ethereum has plans to switch from the Proof of Work method to the Proof of Stake method by end of The PoS system works differently compared to PoW. Instead of miners, PoS will have validators. Unlike PoW miners who rely on computing power to validate new blocks, PoS validators will need to stake or bet some of their existing coins. Validators bet that a discovered block of transactions will be added to the blockchain.

Longevity and staying power Did you know that a cryptocurrency or token's value really depends on how much use the owner can derive from it? The staying power determines how well you can use a cryptocurrency as a store of value. This viewpoint made people consider Litecoin to be the silver equivalent if Bitcoin were gold. Savvy investors would not want to invest heavily in coins that would not be valuable in a few years.

New traders prefer to invest in Ethereum or Litecoin because they have been around for a decade. The coins have stood the test of time and still have more functionality than other tokens that died out less than two years after launch. When debating between Litecoin vs Ethereum in the long term, Ethereum takes the trophy because of its extensive and still-growing use cases.

Think of Ethereum as a global supercomputer that will attract the next generation of decentralized app developers. The developers need computing power and will drive demand for ETH. What are the 5 Differences between Litecoin vs Ethereum? Litecoin and Ethereum both have significant differences that you should know about. These are to do with technical workings and how they execute their purpose. Knowing about them helps you understand them better as investment assets.

Ethereum is more than a coin — it's a platform. Ethereum is a blockchain platform that supports Ether ETH as a currency. On the other hand, Litecoin is just a cryptocurrency that needs to operate on a separate blockchain platform. With Ethereum as a platform, it has a major advantage over other cryptocurrencies because it can support other applications and development projects within its own network.

On the other hand, Litecoin was created purely from the image of Bitcoin, albeit with a few differences to boost its usability. Ethereum supports smart contracts. Bitcoin and Litecoin only support basic contracts, but these are too restrictive if their uses are compared to Ethereum. Transactions are smart contracts if the network can only approve them when a set of conditions are met.

An example of a smart contract is when the network is required to approve transactions only if an accompanying digital signature proves coin ownership. Ethereum makes smart contracts possible because developers can use computer language instructions to write any kind of transaction conditions that they can imagine.

Think of smart contracts as checkout pages in a shopping website. A website will let you choose your list of items and only complete your orders if you pay the required amount. Supply limits To ensure that tokens maintain scarcity, their creators usually set limits or rules that determine how many exist in circulation at a given time.

Litecoin has a limit cap of 84 million tokens. The limit means that at a point in the future, there will be no more tokens created once there are 84 million Litecoin's. Ether chooses to have no limit on the tokens that can be created. There is an indefinite period within which ETH can be mined. However, the difference is achieved in scarcity controls.

For example, an infinite number of ETH coins can be mined over a lifetime, but there are strict controls about how many can be mined in a single year. Ethereum only allows a maximum of eighteen million new ETH coins to maintain a supply growth model in a year. Having a supply growth model ensures that future generations get a steady supply of coins while still enjoying its demand incentive.

The supply growth model still factors in a percentage loss rate to balance the number of coins lost over time. Like all traditional currencies, coins disappear from circulation due to death or carelessness. Different block times The block time refers to the time taken to mine a single block. The block time for Ethereum vs Litecoin varies substantially. Eventually, this means more transactions can be validated in a minute, and a new Ethereum block is created compared to Litecoin.

The PoW method requires individual miners to provide computing power to solve cryptographic problems. The PoS method is a more energy-efficient consensus mechanism than PoW. Which one between Litecoin and Ethereum should you invest? The fundamentals on Litecoin and Ethereum all look impressive, and their prices have shown good returns through the years. If it boils down to market cap, Ethereum is almost five times that of Litecoin. On the other hand, if you look at the prices only, Litecoin is five times more than Ethereum.

It is easy to take the straightforward way out and pick a single coin based on its performance in one comparison. However, you would not want to be the guy that does that! So, the provocative question remains, should I buy Litecoin or Ethereum? None of the coins is superior to the other! Shrewd investors should pick a combination of the two cryptos to diversify their portfolios. You can invest in Ethereum or Litecoin in a manner that reduces volatility risks and enjoy decent returns over time.

With time, you can tactfully adjust the portfolio to tweak it to optimum levels. Conclusion Your new journey as a crypto trader should not be difficult if you know where to look. However, it gets exciting if you understand how to respond to new Ethereum and Litecoin market developments and adjust those to your investment interests. One 'asset' that will never let you down is practice!

Demo trading is an excellent way to polish your trading skills and get a rhythm of the markets. Opening a demo trading account at ATFX is free, and it only takes a few easy steps. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such.

You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.

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