Litecoin သည် ချာလီ လီ က ဖန်တီး ခဲ့ သော ရွယ်တူ ချင်း cryptocurrency တစ် ခု ဖြစ် သည် ။ ၎င်း ကို ဘစ်ကိုအင် ပရိုတိုကော ပေါ် အခြေခံ ၍ ဖန်တီး ခဲ့ သော်လည်း အသုံးပြု ခဲ့ သော ဟက်ရှင်း အယ်ဂိုရီသမ် အသုံးပြု မှု တွင် ကွဲပြား သည် ။ လီတီကိုင်က mm ကိုအသုံးပြု
Litecoin is a peertopeer #Cryptocurrency created by Charlie Lee. It was created based on the #Bitcoin #Protocol but differs in terms of the hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumergrade hardware such as GPU to mine those coins.Why LitecoinLitecoin is a #Cryptocurrency that has evolved from #Bitcoin after its own popularity in the industry, this alternative, or ‘altcoin’ has emerged to allow #Investors to diversify their digital currency package, according to Investopedia. Litecoin is one of the most prominent altcoins and was created by former Google employee and Director of Engineering at Coinbase, Charlie Lee. Litecoin was the first to alter #Bitcoin and the most significant difference is that it takes 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to #Bitcoin s 10 minutes.‘While this matters little to traders, miners who use hardware to run #Bitcoin s #Network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more #Decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting,’ Investopedia explained.As explained above, Litecoin can transact a lot faster than #Bitcoin , but there are also a number of other characteristics that #Investors need to know before #Trading . Litecoin can handle higher volumes of #Transactions because of the capability of transacting faster and if #Bitcoin attempted to transact on the scale of its altcoin, a code update would be needed. However, Litecoin’s blocks would be larger, but with more ‘orphaned blocks. The faster block time of litecoin reduces the risk of double spending attacks this is theoretical in the case of both #Network s having the same hashing power.Litecoin Technical Details:The transaction confirmation time taken for Litecoin is about 2.5 minutes on average as compared to #Bitcoin s 10 minutes. The Litecoin #Network is scheduled to cap at 84 million currency units. Litecoin has inspired many other popular alternative currencies eg. Dogecoin because of its Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins. However it is said that by the end of this year, Scrypt ASIC will enter the mass market.
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