Litecoin is a cryptocurrency, similar to Bitcoin and second only to Bitcoin itself. It has been compared to being the silver to Bitcoin's gold.
Unlike Bitcoin, Litecoin uses the scrypt method of hashing for mining. It is the first successful cryptocurrency to use scrypt. Litecoin,has a large and growing userbase and community. An ever-increasing number of businesses accept Litecoin for an ever-widening range of products and services.
Litecoin's target time between blocks is 2 minutes and 30 seconds, this being 4 times faster than Bitcoin.
The initial total reward per block mined is 50 coins. This reward halves every 840,000 blocks, or approximately every 4 years
The total number of Litecoins that will ever be generated is 82 milion.To begin mining Litecoin, just download a miner like Pooler's cpuminer, to mine with your CPU, or if you have a good graphics card you can use bfgminer, or cudaminer for Nvidia graphics cards.
Altenatively, Guiminer is a good choice if you're a beginner to mining, or if you simply prefer not to use the command-line to set up your mining.Hash Rate (KHash/s) | Difficulty |
5 | +0.00000582 |
10 | +0.00001164 |
50 | +0.00005821 |
100 | +0.00011641 |
250 | +0.00029103 |
500 | +0.00058207 |
750 | +0.00087310 |
1000 | +0.00116414 |
2000 | +0.00232828 |
4000 | +0.00465656 |
8000 | +0.00931312 |