Litecoin (LTC)

Litecoin

$127.7 USD (0.44%)
BTC (0.44%)
Market Cap
$7234939032.0
USD
56655748.0 LTC
Volume (24h)
$300935000.0
USD
2356577.916993 LTC
Circulating Supply
56655748.0
Litecoin
Max Supply
84000000.0
Litecoin

Introduction of Litecoin

A hard fork of its forefather Bitcoin, Litecoin was launched with the aim of making the online transactions easy and transparent. Like other digital cryptocurrencies, it runs on a global peer-to-peer blockchain network and is based on open-source cryptography. This decentralized currency supports instant, near-zero transactions and negates the possibility of any third party interference. Individuals are in control of their funds as the Scrypt (Proof-of-Work) algorithm fortifies the network. It also brings with itself certain additional features that are lacking in Bitcoin. Increased trade volume and liquidity, combined with considerable support from industry experts makes Litecoin a recognized means of exchange that perfectly complements Bitcoin. 

History of Litecoin

Litecoin was developed by ex-Googler Charles Lee and first launched on GitHub, an open-source platform on 7th October 2011. The system went live on 13th October 2011. By increasing the total supply, Litecoin makes way for increased transaction volume. Owing to faster block generation, Litecoin’s network easily allows room for high-volume transactions without any need to change the software design. Merchants and traders receive confirmation much faster, without having to wait in a queue. 

Litecoin Is Different From Bitcoin

Litecoin uses ‘Scrypt’ as its evidence of work (calculations done by the miners). It is based on the core Bitcoin blockchain, and comes with a reduced block generation time of 2.5 minutes (as compared to Bitcoin’s block time of 10 minutes), a different hash protocol (Scrypt, in place of SHA-256), a coin cap of 84 million (as compared to Bitcoin’s 21 million) and a somewhat modified GUI. It is a memory-hard algorithm that requires exponentially greater storing capacity, and because of this, FPGA and ASIC devices meant for Litecoin mining are more difficult to design and far more expensive to purchase.

Reception and Ranking

In early May of 2017, Litecoin became the first of the best 5 digital currencies to receive the Segregated Witness approval. Later that month, the first of the Lightning Network bargain was initiated through Litecoin, exchanging 0.00000001 LTC from Zürich in Europe to San Francisco in USA in less than a second.

Litecoin Mining

Litecoin mining is quite similar to that of Bitcoin, except the fact that GPU mining rigs are a more favourable option to go with, as opposed to Bitcoin’s ASIC setup. For every new block generated, Litecoin miners are rewarded with 25 new coins. This amount is halved in every 4 years, i.e., for every 840,000 blocks.

What is Bitcoin

Bitcoin Mining

Hashgains Mining Plan

TOPAZ
$ 175
0.5 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
RUBY
$ 350
1 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
EMERALD
$ 1750
5 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
SAPPHIRE
$ 3500
10 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
 
Customized
$ 175
0.5 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
TOPAZ
$ 200
500 MH/s
Maintenance Fees per GH/s/day
$ 0.12935
Contract Duration
24 Months
RUBY
$ 400
1 GH/s
Maintenance Fees per GH/s/day
$ 0.12935
Contract Duration
24 Months
EMERALD
$ 2000
5 GH/s
Maintenance Fees per GH/s/day
$ 0.12935
Contract Duration
24 Months
SAPPHIRE
$ 4000
10 GH/s
Maintenance Fees per GH/s/day
$ 0.12935
Contract Duration
24 Months
 
Customized
$ 200
500 MH/s
Maintenance Fees per GH/s/day
$ 0.12935
Contract Duration
24 Months
TOPAZ
$ 125
5 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
RUBY
$ 625
25 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
EMERALD
$ 1250
50 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
SAPPHIRE
$ 2500
100 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
 
Customized
$ 125
5 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
TOPAZ
$ 125
10 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
RUBY
$ 625
50 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
EMERALD
$ 1250
100 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
SAPPHIRE
$ 2500
200 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
 
Customized
$ 125
10 MH/s
Maintenance Fees per GH/s/day
$ 3.2435
Contract Duration
24 Months
TOPAZ
$ 100
0.5 KH/s
Maintenance Fees per GH/s/day
$ 0.299
Contract Duration
24 Months
RUBY
$ 500
2.5 KH/s
Maintenance Fees per GH/s/day
$ 0.299
Contract Duration
24 Months
EMERALD
$ 1250
6.25 KH/s
Maintenance Fees per GH/s/day
$ 0.299
Contract Duration
24 Months
SAPPHIRE
$ 2500
12.50 KH/s
Maintenance Fees per GH/s/day
$ 0.299
Contract Duration
24 Months
 
Customized
$ 100
0.5 KH/s
Maintenance Fees per GH/s/day
$ 0.299
Contract Duration
24 Months
TOPAZ
$ 49
10 H/s
Maintenance Fees per GH/s/day
$ 0.6435
Contract Duration
24 Months
RUBY
$ 245
50 H/s
Maintenance Fees per GH/s/day
$ 0.6435
Contract Duration
24 Months
EMERALD
$ 490
100 H/s
Maintenance Fees per GH/s/day
$ 0.6435
Contract Duration
24 Months
SAPPHIRE
$ 980
200 H/s
Maintenance Fees per GH/s/day
$ 0.6435
Contract Duration
24 Months
 
Customized
$ 49
10 H/s
Maintenance Fees per GH/s/day
$ 0.6435
Contract Duration
24 Months
TOPAZ
$ 350
1 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
RUBY
$ 1750
5 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
EMERALD
$ 3500
10 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
SAPPHIRE
$ 5250
15 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
 
Customized
$ 350
1 TH/s
Maintenance Fees per GH/s/day
$ 0.00032435
Contract Duration
24 Months
TOPAZ
$ 50
10 GH/s
Maintenance Fees per GH/s/day
$ 0.0049
Contract Duration
24 Months
RUBY
$ 250
50 GH/s
Maintenance Fees per GH/s/day
$ 0.0049
Contract Duration
24 Months
EMERALD
$ 500
100 GH/s
Maintenance Fees per GH/s/day
$ 0.0049
Contract Duration
24 Months
SAPPHIRE
$ 1250
250 GH/s
Maintenance Fees per GH/s/day
$ 0.0049
Contract Duration
24 Months
 
Customized
$ 50
10 GH/s
Maintenance Fees per GH/s/day
$ 0.0049
Contract Duration
24 Months