functionality. Bitcoin uses the SHA-256 hashing algorithm, which involves calculations that can be greatly accelerated in parallel processing. Litecoin was created in October 2011 by former Google engineer Charles Lee. Litecoin was announced in 2011 with the goal of being the 'silver' to bitcoin's 'gold'. : : ' . . In 2009, Satoshi Nakamoto launched bitcoin as the world's first cryptocurrency.
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Halved every 840,000 blocks, initial reward 50 BTC 50 LTC. Pair, last price 24 volume, yobit, xCE/BTC. There was a time when people could use GPU mining for bitcoin, but asics have made this method not worth the effort. Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. A merchant who waited for a minimum of two confirmations would only need to wait five minutes, whereas they would have to wait 10 minutes for just one confirmation with bitcoin. The faster block time of litecoin reduces the risk of double spending attacks this is theoretical in the case of both networks having the same hashing power. However, this is soon to change, thanks to companies like Alpha Technologies, which is now taking preorders. At-a-glance differences bitcoin litecoin, coin limit 21 Million 84 Million, algorithm, sHA-256, scrypt, mean block time 10 minutes.5 minutes.
Last updated 2nd April 2014. Transaction speed (or faster block time) and confirmation speed are often touted as moot points by many involved in bitcoin, as most merchants would allow zero-confirmation transactions for most purchases. The consequences of using scrypt mean that there has not been as much of an 'arms race' in litecoin (and other scrypt currencies because there is (so far) no asic technology available for this algorithm. It is necessary to bear in mind that a transaction is instant, it is just confirmed by the network porque hay diferencias entre graficos forex as it propagates. Many cryptocurrencies have launched with modified versions of this code, with varying levels of success. #,.: ., ' : :, # ' ' ; # , . The code is open source, which means it can be modified by anyone and freely used for other projects.
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