The essence of mining

1.

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

2. Lightcoin is a kind of network virtual currency based on PTP technology, which is second only to bitcoin in the global circulation market value. Inspired by bitcoin, the creation and transfer of lightcoin is based on an open source encryption protocol, which is not managed by any central authority
each litecain is divided into 100000000 smaller units, defined by eight decimal places. Lightcoin needs to be generated by "miner mining". Mining is done by hashing through computer graphics card. If the value of "mine explosion" is calculated, the system will reward 50 lightcoin at one time. At present, the computing power of Leyte coin is growing rapidly. The miners can't find the mine through several computers, so they need to join the mine pool. The mine pool gathers all the computing power of everyone, so the probability of finding the mine is greater
e to the popularity of bitcoin and lightcoin, many units, institutions or indivials proce money by imitating their principles in an endless stream. In order to regulate the operation of digital currencies such as lightcoin, the relevant departments of the state specially authorize and support the development of a series of training courses on digital assets and business value-added points, so that students can analyze objectively and invest rationally.

3. The mining principle of lightcoin is the same as that of bitcoin, but the algorithm is different. In short, it is to use the computing power of your lightcoin mining equipment to solve mathematical problems, confirm lightcoin network transactions, and ensure the security of the entire lightcoin network system. As a reward, miners can get unequal lightcoin rewards. The total number of lightcoin is four times that of bitcoin

at present, lightcoin mining has entered the ASIC era, and the myth that ASIC was not suitable for lightcoin mining has been broken

if you want to mine the Leyte coin, it is recommended that you buy ASIC Leyte coin miner, and you'd better join a mine pool for mining. The more famous lightcoin machines in the market include A2, silverfish, KNC and so on. At present, Avalon, a famous supplier of bitcoin machines, also plans to research and develop lightcoin ASIC chips. Avalon's lightcoin chip is a 28nm process technology, which is in a leading position in the instry.

4. Litecoin is a kind of network currency based on "peer-to-peer" technology, which can help users pay to anyone in the world immediately
at present, lightcoin is the second virtual currency after bitcoin in global circulation market value. The legends of bitcoin, Wright silver, infinite copper and pennies aluminum (Internet) are popular in the circle
the popular digital currencies in 2013 include bitcoin, Leyte coin, zeta coin, pennies (Internet), invisible gold bar, red coin, pole coin, barbecue coin and prime currency. At present, hundreds of digital currencies are issued all over the world
litecoin is inspired by bitcoin (BTC) and has the same implementation principle in technology. The creation and transfer of litecoin is based on an open source encryption protocol and is not managed by any central authority. Litecoin aims to improve bitcoin. Compared with bitcoin, litecoin has three significant differences. First, the liteoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the output of litecoin network is expected to be 84 million litecoin, which is four times the amount of currency issued by bitcoin network. Thirdly, in its workload proof algorithm, litecoin uses the scrypt encryption algorithm first proposed by Colin Percival, which makes it easier to mine litecoin on ordinary computers than bitcoin. Each litecain is divided into 100000000 smaller units, defined by eight decimal places
lightcoin is generated by "miner's mining". Mining is done by hashing with computer graphics card. If the value of "mine explosion" is calculated, the system will reward 50 lightcoin at one time. At present, the computing power of lightcoin is growing rapidly, and miner can't dig mine through several computers. Therefore, it is necessary to join the mine pool, which collects all the computing power, It is estimated that the probability of calculating the "blasting" value is higher
at present, the well-known ore pools abroad include wemineltc, coinotron, etc

5. All virtual digital cryptocurrencies, like bitcoin, have consensus algorithms, but not all consensus algorithms are realized by mining. Lightcoin was obtained by mining. The security of the algorithm is still very high, but the security of the storage is related to the storage mode. The security of the cold wallet is the highest, followed by the hot wallet. The security of the platform, the exchange and the like wallet is general, and the difference is very big.

6. Compared with bitcoin mining, lightcoin mining is relatively easy. Because the difficulty of mining is relatively low. But at present, lightcoin mining has graally entered the era of ASIC miner competition. The computing power is constantly rising, and the computing power of large mines is approaching 51%. If you want to carry out lightcoin mining, you must buy professional ASIC lightcoin miner. However, the price of lightcoin miner is generally too high, and there will be more ASIC lightcoin miner with high computing power in the future, Computing power is not constantly pushing up. This is the same as the era of bitcoin ASIC miner last year. Last year, Avalon miner was born, which completely subverted the bitcoin mining instry. With the help of roast cat, the computing power suddenly increased, and the graphics card mining completely went out of people's sight. Although there are many bitcoin ASIC mining machines, Avalon mining machine has always been unique and constantly launched its own new procts.

7. Negative or positive. It's too early to draw a conclusion. Take bitcoin as an example. The generation of bitcoin depends on mining constructed by special algorithms. In other words, it is difficult to supply money on a large scale. With the development of Internet in the future, virtual currency such as bitcoin will be useful, provided that this kind of development is expected by today's people. Real money can be obtained by doing something valuable to the society, which is completely different from the generation and acquisition of virtual money. Other similar virtual currencies in China are almost all pyramid schemes with virtual concept and financial packaging.

8. The two algorithms are different. I can't tell you the specific algorithm. If you dig for fun, I suggest you dig for Wright's coin.

9. The process of changing usdt into CNY in okex exchange is quite simple. After you log in to the okex interface, you can select the legal currency to trade, and then select the currency as usdt to sell.