Lightcoin block network
was released on October 7, 2011. It is currently the highest market value counterfeit coin, about 1% of BTC's market value, or US $1000W. Compared with BTC, LTC is faster, with an average of 2.5 minutes and 6 confirmations per block in 15 minutes. In addition, the number of LTCs is four times that of BTCs, with a total of 8400w. At present, LTC uses scrypt algorithm, which needs a lot of memory support. The professional mining machine on the market can not be used for LTC mining, only the graphics card
what is the difference between lightcoin and bitcoin
1. Transaction: easier to use, larger volume and greater appreciation potential. The block confirmation time is shorter, which is four times faster than bitcoin. For example, pizza owners are more willing to accept LTC payment to save transaction time< Mining:
special algorithm creates the unique charm of LTC, which is also the key to stand out from Shanzhai coins. Scrypt algorithm uses sha256 as its subroutine, and scrypt itself needs a lot of memory, each hash is used as the input seed, and then needs a lot of memory to store another seed pseudo-random sequence, Generate pseudo-random points of sequence and output hash value. The key is that scrypt algorithm needs a lot of memory while sha256 algorithm does not. So in this era when BTC mining of graphics card is coming to an end, LTC mining is about to usher in a golden period of development. Because of the high cost of memory, any ASIC or FPGA has no advantage over graphics card mining. LTC has advantages, at least in the foreseeable future
3. The biggest threat of bitcoin is 51% attack:
some shanzhais are killed by 51% attack. To be honest, LTC is a worry for the development of LTC and BTC, of course. However, the specific problems they face are different: BTC can avoid 51% attack through technology upgrading (such as end block reconstruction, careful node upgrading, and calculation difficulty), However, there is no way to evade LTC technology. However, e to the scattered computing power of graphics card mining and the increasing difficulty, this problem needs to be paid attention to, but don't worry too much. With the use of ASIC in BTC, the risk of 51% attack is increasing. I hope BTC development team can solve this problem as soon as possible.
① lightcoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation
② lightcoin network is expected to proce 84 million lightcoins, which is about four times the circulation of bitcoin network
③ in its workload proof algorithm, lightcoin uses scrypt encryption algorithm first proposed by Colin Percival, which makes it easier to mine lightcoin on ordinary computer than bitcoin
lightcoin is the most successful digital currency to imitate bitcoin. At present, major platforms support lightcoin transactions, including 58coin. It can be seen that lightcoin is comparable to bitcoin in terms of security and recognition.
Litecoin (LTC, currency symbol: 321;) It is a kind of network currency based on "peer-to-peer" technology. It is also an open source software project under MIT / X11 license. It can help users make instant payments to anyone in the world< better use of digital currency trading platform coin exchange
data expansion:
lightcoin is inspired by bitcoin (BTC), and has the same implementation principle in technology. The creation and transfer of lightcoin is based on an open source encryption protocol, and is not managed by any central organization. Lightcoin aims to improve bitcoin. Compared with bitcoin, lightcoin has three significant differences. First, the lightcoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the lightcoin network is expected to proce 84 million lightcoins, four times the amount of money issued by bitcoin network. Thirdly, the scrypt encryption algorithm first proposed by Colin Percival is used in lightcoin's workload proof algorithm, which makes it easier to mine lightcoin on ordinary computer than bitcoin. Each Leyte is divided into 100000000 smaller units, defined by eight decimal places
BTC, usdt, ETH, BCH, LTC mean respectively:
1, BTC
bitcoin. The concept was first proposed by Nakamoto in 2009. According to Nakamoto's idea, the open source software is designed and released, and the P2P network is built on it. Bitcoin is a kind of P2P digital currency. Point to point transmission means a decentralized payment system
2, usdt
TEDA currency is a virtual currency that links cryptocurrency with legal currency US dollar, and is a virtual currency kept in foreign exchange reserve account and supported by legal currency
EthEthereum is an open source public blockchain platform with intelligent contract function, which provides decentralized Ethereum virtual machine to process point-to-point contract through its special cryptocurrency ether
4. BCH
bitcoin cash is a new version of bitcoin with different configurations launched by a small number of bitcoin developers
at 20:20 on August 1, 2017, bitcoin cash starts mining, and each bitcoin investor's account will have the same amount of bitcoin cash (BCH)
5, LTC
litecoin, abbreviated as LTC, currency symbol: & # 321;; It is a kind of network currency based on "peer-to-peer" technology. It is also an open source software project under MIT / X11 license. It can help users make instant payments to anyone in the world
source of reference: network bitcoin
source of reference: network TEDA coin
source of reference: network Ethereum
source of reference: network bitcoin cash
source of reference: network letcoin
source of reference: Network
1. Transaction:
it's easier to use, larger in volume and greater in appreciation potential. The block confirmation time is shorter, which is four times faster than bitcoin. For example, pizza owners are more willing to accept LTC payment to save transaction time< Mining:
special algorithm creates the unique charm of LTC, which is also the key to stand out from Shanzhai coins. Scrypt algorithm uses sha256 as its subroutine, and scrypt itself needs a lot of memory, each hash is used as the input seed, and then needs a lot of memory to store another seed pseudo-random sequence, Generate pseudo-random points of sequence and output hash value. The key is that scrypt algorithm needs a lot of memory while sha256 algorithm does not. So in this era when BTC mining of graphics card is coming to an end, LTC mining is about to usher in a golden period of development. Because of the high cost of memory, any ASIC or FPGA has no advantage over graphics card mining. LTC has advantages, at least in the foreseeable future
3. The biggest threat of bitcoin is 51% attack:
some shanzhais are killed by 51% attack. To be honest, LTC is a worry for the development of LTC and BTC, of course. However, the specific problems they face are different: BTC can avoid 51% attack through technology upgrading (such as end block reconstruction, careful node upgrading, and calculation difficulty), However, there is no way to evade LTC technology. However, e to the scattered computing power of graphics card mining and the increasing difficulty, this problem needs to be paid attention to, but don't worry too much. With the use of ASIC in BTC, the risk of 51% attack is increasing. I hope BTC development team can solve this problem as soon as possible.
1. Litcoin (LTC) is an improved version of digital currency inspired by bitcoin (BTC). It was designed and implemented by a programmer who worked in Google. It was released on November 9, 2011. Lightcoin and bitcoin have the same implementation principle in technology, but the creation and transfer of lightcoin is based on an open source encryption protocol, which is not managed by any central organization
2. Sunshine coin (SSC for short) is sponsored by Liu Chunyang, vice president of Jinhua express delivery Association of Zhejiang Province, instrial entrepreneur and philanthropist of express delivery instry. As a legal person, Zhejiang Dongyang Yueyin Technology Co., Ltd. is registered with the formal instry and Commerce Bureau, with a registered capital of 10 million yuan. With this as the backing and support, the sunshine elite team affiliated to the company launched the first virtual coin sunshine coin
The English name of Vicat is onecoin, which is a kind of Internet virtual currency term created by the government and is suspected of pyramid selling fraudin 2017, CCTV announced the list of 350 fund pyramid schemes, with Vicat in the list
in May 2018, Zhuzhou County Procuratorate of Hunan Province prosecuted the last four suspects involved in the third batch of the "3.15" Vicat money online pyramid scheme case supervised by the Ministry of public security to the court
4. Amazon coin
Amazon announced in early February 2013 that it is expected to launch Amazon coins in the United States in May 2013. Amazon coins is a new virtual currency that allows U.S. users to buy apps, games and props in the kindle fire. Amazon will provide tens of millions of US dollars of Amazon coins at that time to let users try and consume the apps, games and props in the app on the kindle fire for free
5. Eth is a kind of digital token of Ethereum, which is regarded as "bitcoin version 2.0". It adopts the blockchain technology "Ethereum", which is different from bitcoin. It is an open-source public blockchain platform with intelligent contract results, and a resonance network composed of thousands of computers around the world. Developers need to pay eth to support the application. Like other digital currencies, ether currency can be bought and sold on the trading platform
litecoin is short for LTC, and its English name is litecoin. Litecoin stands for lightweight. The meaning behind litecoin is lightweight currency
1. Bitcoin generates a block every 10 minutes, while lightcoin LTC generates a block every 2.5 minutes. This means that lightcoin has faster transaction confirmation efficiency. Bitcoin transfer sometimes takes 1 hour or even longer to arrive at the account, but lightcoin generally takes less than 20 minutes to confirm
2. Since the LTC speed of lightcoin is four times that of bitcoin, and the reward of each block is the same as bitcoin, the total amount of money is four times that of bitcoin, which is 84 million lightcoins, which is higher than that of bitcoin<
3. Bitcoin adopts sha256 encryption algorithm, and lightcoin adopts script encryption algorithm. Compared with bitcoin, lightcoin LTC has a slightly lower computational load, which makes it easier to mine and more suitable for graphics card
(GPU) operation. At the same time, FPGA (field programmable gate array) and ASIC (application specific integrated circuit) implemented for script are better than sha256 used for bitcoin, More expensive.
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