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WHAT IS CRYPTOCURRENCY:
A cryptocurrency is a medium of exchange like normal currencies such as USD,
but designed for the purpose of exchanging digital information through a process
made possible by certain principles of cryptography. Cryptography is used to
secure the transactions and to control the creation of new coins. The first
cryptocurrency to be created was Bitcoin back in 2009. Today there are hundreds
of other cryptocurrencies, often referred to as Altcoins. Put another way,
cryptocurrency is electricity converted into lines of code with monetary value. In
the simplest of forms, cryptocurrency is digital currency.

HISTORY OF CRYPTOCURRENCY:
The first cryptocurrency was Bitcoin. Bitcoin was created in 2009 by a
pseudonymous developer named Satoshi Nakamoto. Bitcoin uses SHA-256, which
is a set of cryptographic hash functions designed by the U.S National Security
Agency. Bitcoin is a cryptocurrency that is based on the proof-of-work system. In
April 2011, Namecoin, the first altcoin, was created to form a decentralized DNS
to make internet censorship more difficult. In October 2011, Litecoin was released
and became the first successful cryptocurrency to use scrypt as its hash function
rather than SHA-256. This gave the general public the ability to mine for litecoins
without the purchase of specific hardware such as the ASIC machines used to mine
Bitcoin. Litecoin began receiving media attention in late 2013 reaching a market
cap of $1 billion.Ripplecoin, created in 2011, was built on the same protocol as
Bitcoin but services as a payment system think of it like a Paypal for

cryptocurrencies that supports any fiat currency, cryptocurrency, commodity or

even frequent flier miles.

CRYPTOCURRENCY CONTROLLED:
Unlike centralized banking, like the Federal Reserve System, where governments
control the value of a currency like USD through the process of printing fiat
money, government has no control over cryptocurrencies as they are fully
decentralized. Most cryptocurrencies are designed to decrease in production over
time like Bitcoin, which creates a market cap on them. Thats different from fiat
currencies where financial institutions can always create more, hence inflation.
Bitcoin will never have more than 21 million coins in circulation. The technical
system on which all cryptocurrencies are based on was created by Satoshi
Nakamoto. While hundreds of different cryptocurrency specifications exist, most
are derived from one of two protocols; Proof-of-work or Proof-of-stake. All
cryptocurrencies are maintained by a community of cryptocurrency miners who are
members of the general public that have set up their computers or ASIC machines
to participate in the validation and processing of transactions.

What is a Cryptocurrency Hash?

Cryptocurrency mining power is rated on a scale of hashes per seconds. A rig with
a computing power of 1kH/s is mining at a rate of 1,000 hashes a second, 1MH/s is
a million hashes per second and a GH/s is one billion hashes per second. Every
time a miner successfully solves a block, a new hash is created. A hash algorithm
turns this large amount of data into a fixed-length hash. Like a code if you know
the algorithm you can solve a hash and get the original data out, but to the ordinary
eye its just a bunch of numbers crammed together and remains practically
impossible to get the original data out of.

What is Litecoin?
Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost
payments to anyone in the world. Litecoin is an open source, global payment
network that is fully decentralized without any central authorities. Mathematics
secures the network and empowers individuals to control their own finances.
Litecoin features faster transaction confirmation times and improved storage
efficiency than the leading math-based currency. With substantial industry support,
trade volume and liquidity, Litecoin is a proven medium of commerce
complementary to Bitcoin.

HISTORY:
Litecoin is the well-known crypto-currency designed by Charles Lee, who now
works as Director of Engineering at Coinbase. when financial expert Charles Lee,
a former employee of Google inspired by the idea of Bitcoin, decided to create an
alternative cryptocurrency. Litecoin was created on the basis of the Bitcoin
protocol and has all the key features of bitcoin: it is decentralized, it has no

issuance center or regulatory administrative center, and it provides the opportunity

to verify transactions through Blockchain, etc. This peer-to-peer internet currency
is very much like Bitcoin from the user standpoint.

Open-source and global, Litecoin, like Bitcoin, is also fully decentralized, with
mathematics securing the network. Some people point to Litecoins faster
transaction times as an improvement over Bitcoin. Litecoin is one of the most
proven crypto-currency experiments on the market and its proof-of-work algorithm
uses scrypt, a different form of encryption, than Bitcoin. Charlie Lee envisaged the
system as silver to Bitcoins gold analogy. He also foresaw that there might be a
time when the Bitcoin network could not handle itself as a transaction network
after a certain volume, and believed Litecoin could handle the spillover if Bitcoin
every reached capacity. Litecoin was released via an open-source client on GitHub
on October 7, 2011 by Charles Lee, a former Google employee.[5] It was a fork of
the Bitcoin-Qt client, differing primarily by having a decreased block generation
time, increased maximum number of coins, different hashing algorithm (scrypt,
instead of SHA-256[6]), and a slightly modified GUI. During the month of
November 2013, the aggregate value of Litecoin experienced massive growth
which included a 100% leap within 24 hours.[7] Litecoin reached a $1 billion
marketcap in November 2013.[8] As of February 2016, its market capitalization is
US$136,512,971 with the price at $3 levels. Charles Lee isnt nearly as invisible as
Satoshi Nakamoto, but hes doing his best. The creator of Litecoin, the second
most successful cryptocurrency after Bitcoin, was happy to speak with CoinDesk,

but he didnt want to reveal too much about himself. What we know for sure about
the California-based software engineer is that he graduated from a leading
technology-focused university in 1999, and is currently working for an Internet
software company. CoinDesk knows who that is and the odd reference can be
found online by those who know where to look - but Lee really doesnt like to talk
about it. The six-person team behind the altcoin is equally secretive. They are
people that I talked to over the years on IRC and other forums, Lee says of the
team, which communicates with the broader community through chat rooms and
message boards. Some of them don't want their identities known. People are
always afraid of government intervention, he says. Cryptocurrency is such a
powerful concept that it can almost overturn governments. Lee heard about
Bitcoin two years ago, and almost immediately understood the significance of the
idea. I definitely think that what the Internet did to information, cryptocurrency
will do to currency, he says. Like many digital coin enthusiasts, he started mining
bitcoin before getting into the altcoin scene.

Who Make Litecoin And How?

Charles Lee, the founder of Litecoin, has left his job at Google after being
signed full-time by Coinbase. He started this week. The California-based coder
and MIT graduate decided to work for the digital wallet company after six years
at Google, where he worked on projects including YouTube, ChromeOS, and
Google Play Games. Coinbase isnt the first bitcoin company to employ
someone from a cryptocurrencys core development team. BitPay hired Bitcoin
core developerJeff Garzik in May. That hire, however, was designed to get the
former Red Hat engineer working full-time on bitcoin, which had been a side
project for him before. This wont be the case with Coinbase and Lee. I will be
working on Coinbase code. Basically, whatever's necessary to
help Coinbase succeed, he told CoinDesk, which conducted an in-depth
interview with him earlier this year. Litecoin will still be a side project,
but Coinbase is fully aware of this and support it. And Litecoin is not going
anywhere. We have a dedicated team working on it and we are actively working
on releasing the latest 0.8 client. Lee was secretive about his Google job when
he worked there. Now, hes opening up. The main reason why I didn't
publicize that I worked for Google previously is because I didn't want to make
it seem like Google endorsed Litecoin or Bitcoin in anyway, he said. Litecoin

was just an open source project I worked on in my free time. Now that I'm no
longer at Google, I'm ok with it being more public. Google has a wallet
product for mobile payments, and people in the cryptocurrency space have
speculated that it might make sense for the company to launch its own virtual
currency in the future. Lee confirmed that there would be a virtual wall between
his job at Coinbase and his Litecoin activities. One of Litecoin Project's core
principles is to remain vender neutral and that won't change with me working at
Coinbase, he said. Plus, it's no longer just me running the show. We have
quite a few talented people on our team now and we do things in a democratic
way.

Mono/ Sign Of Litecoin:

Development:
Litecoin version 0.8.5.1 was released in November 2013. The release included
fixes for vulnerabilities and added enhanced security to the Litecoin network. The
Litecoin developer team released version 0.8.6.1 in early December 2013. The new
version offered a 20x reduction in transaction fees, along with other security and
performance improvements in the client and network. The source code and binaries
were released early to people in the "#litecoin" IRC channel, on the official
Litecoin forums, and on Reddit, with information for power users to add a Litecoin
supernode to the configuration file, while the main site was to be updated after
enough of the network was running the new version. This release method was used
to ensure that the low fee transactions from version 0.8.6.1 clients would not be
delayed by clients running older versions. In April 2014, a new version of Litecoin

was released, version 0.8.7.1, which fixed some minor issues along with an
important fix related to the Heartbleed security.

Differences from Bitcoin:

An original algorithm for block computation, which results in a mining

process different from that of bitcoin;
A shorter transaction process, which allows for money transfers 4 times
faster than bitcoin;
A maximum amount of coins that is 4 times larger (the total issuance limit is
84 million).

The reason for the faster transaction processing is that with litecoin, block
processing is done every 2.5 minutes, while with bitcoin it is made only once every
10 minutes. This is an important benefit, and this may be the reason that many
sources have claimed that litecoin will become the alternative to bitcoin in the
future. The official client program distributed for digital currency transactions is
open-source. This was a modification of the Bitcoin-Qt client software (the socalled fork), with some technical differences in the duration of block generation
and in the hashing algorithm, as well some minor changes in the graphical
interface. Since then, many modifications have been released, as well as alternative
client software, including the unofficial version of the Android client software and
the official version of the Electrum client software. At the moment, litecoin is less
popular than its "elder brother" bitcoin, but it has a firm hold on second place in
the world of cryptocurrencies with multi-million capitalization. Even though there
are other alternatives, such as Namecoin, that appeared earlier than litecoin,
Litecoin is much more popular than the other alternative cryptocurrencies. It is
traded much more often on exchanges, both for fiat currency and for btc. The
currency rate has begun to rise, which has attracted increased attention from the
media, as it is regarded as a real alternative to bitcoin.

Market Capitalization and Popularity:

At the time of writing, Bitcoins market capitalization sits at roughly $4 billion.

Whether this figure strikes you as either high or low will depend largely on your
historical perspective. When we consider that Bitcoins market capitalization was
barely $42,000 in July 2010, its current figure seems staggering. When, however,
we consider that it has declined by roughly 66 percent since its all-time high in
December 2013, its current figure seems comparatively modest. What is clear is
that Bitcoin remains by far the most highly valued player in the cryptocurrency
space.
Litecoin, however, has also made significant progress in recent years. An analysis
of Google search data shows that public interest in both currencies have been
highly correlated since the launch of Litecoin in 2011.

Total Amount of Coins:

One of the main differences between Bitcoin and Litecoin concerns the total
number of coins which each cryptocurrency can produce. The Bitcoin network can
never exceed 21 million coins, whereas Litecoin can accommodate up to 84
million coins. Although in theory this sounds like a significant advantage in favor
of Litecoin, its real-world effects may be negligible. This is due to the fact that
both Bitcoin and Litecoin are divisible into nearly infinitesimal amounts. In fact,
the minimum quantity of transferable bitcoin is one hundred millionth of a bitcoin
(0.00000001 bitcoins) known colloquially as one satoshi. Users of either
currency should therefore have no difficulty purchasing low-priced goods or
services, regardless of how high the general price of an undivided single bitcoin or
litecoin may become. Despite this, Litecoins greater number of maximum coins
might offer a psychological advantage over Bitcoin. At todays prices, purchasing a
$2 coffee would cost approximately 0.007 bitcoin, or roughly 1 litecoin. In a video
interview posted by IBMs banking division in November 2013, IBM executive
Richard Brown raised the prospect that some users may prefer transacting in whole
units rather than in fractions of a unita potential advantage for Litecoin.Yet even
assuming that this is true, this problem may be solved through simple software
changes introduced at the level of the digital wallets through which Bitcoin
transactions are made. As Tristan Winters points out in a November 2013 Bitcoin
Magazine article, The Psychology of Decimals, popular Bitcoin wallets such as
Multibit and Electrum already offer users the option of displaying the value of their
bitcoins in terms of official (or fiat) currencies such as the U.S. dollar. This can
help circumvent the psychological aversion to dealing in fractions when using
bitcoin.

Transaction Processing Speed:

Although technically transactions occur instantaneously on both the Bitcoin and
Litecoin networks, time is required in order for those transactions to be confirmed
by other network participants. According to data from Blockchain.info, the Bitcoin
networks long-term average transaction confirmation time is just over 9 minutes
per transaction. The equivalent figure for Litecoin is roughly 2.5 minutes,
according to data from BitInfoCharts.com. In principle, this difference in
confirmation time could make Litecoin more attractive for merchants. For

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example, a merchant selling a product in exchange for Bitcoin would need to wait
nearly four times as long to confirm payment as if that same product were sold in
exchange for Litecoin. On the other hand, merchants can always opt to accept
transactions without waiting for any confirmation at all. The security of such zeroconfirmation transactions is the subject of some debate. However, recent
innovations such as Bitpays proposed Inter-Channel Payments system (nicknamed
Impulse) may make these kinds of instantaneous transactions significantly more
secure, mitigating Litecoins faster confirmation time advantage.

Different Algorithms: Bitcoins SHA-256 vs. Litecoins Scrypt:

By far the most fundamental technical difference between Bitcoin and Litecoin are
the different cryptographic algorithms which they employ. Bitcoin makes use of
the longstanding SHA-256 algorithm, whereas Litecoin makes use of a
comparatively new algorithm known as Scrypt. The main practical significance of
these different algorithms is their impact on the process of mining new coins. In
both Bitcoin and Litecoin, the process of confirming transactions requires
substantial computing power. Some members of the currency network, known as
miners, allocate their own computing resources toward the task of confirming the
transactions of other users. In exchange for doing so, these miners are rewarded by
earning units of the currency which they have mined. (Read more What Is Bitcoin
Mining?) SHA-256 is generally considered to be a more complex algorithm than
Scrypt, while at the same time allowing a greater degree of parallel processing.
Consequently, Bitcoin miners in recent years have utilized increasingly
sophisticated methods for mining bitcoins as efficiently as possible. Today, the
most dominant method for Bitcoin mining consists of the use of ApplicationSpecific Integrated Circuits (ASICs). These are hardware systems which, unlike
the simple CPUs and GPUs which came before them, can be tailor-made for the
sole purpose of mining bitcoins. The practical consequence of this innovation has
been that Bitcoin mining has become increasingly out-of-reach for the everyday
user. Scrypt, by contrast, was deliberately designed to be less susceptible to the
kinds of custom hardware solutions employed in ASIC-based mining. This has led
many commentators to view Scrypt-based cryptocurrencies, such as Litecoinm as
being more accessible for users who also wish to participate in the network as
miners. In recent years, however, companies such as Zeus and Flower Technology

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have brought Scrypt AISCs to the market, suggesting that Litecoins vision of
easily accessible mining may become a thing of the past.

The Bottom Line:

While Bitcoin and Litecoin may be the gold and silver of the
cryptocurrency space today, history has shown that the status quo in this
dynamic and emerging sector can change profoundly in even a few
months. It remains to be seen whether the cryptocurrencies with which
we have become familiar will retain their stature in the months and years
to come. (Read more The 5 Most Important Virtual Currencies Other
Than Bitcoin)

What is Litecoin mining?

If you have never mined Litecoins before then you can follow these steps to test
your hardware: If you want to mine Litecoins with your CPU, double click on the
file "MineWithCPU.bat" from the folder "Mine Litecoins with CPU". If your
hardware can handle it, your computer will begin mining Litecoins for a test
worker I've set up at the mining pool POOL-X. It could take several minutes before
you get a share though. Mining Litecoins with your CPU isn't very effective, but
you can experience how it works by executing this file. If you want to mine
Litecoins with your GPU, double click on the file "MineWithAMDGPU.bat" from
the folder "Mine Litecoins with GPU/AMD" if your graphic card has been
manufactured by AMD (Ati). If your card has been made by Nvidia, double click
on the file "MineWithNvidiaGPU.bat" from the folder "Mine Litecoins with
GPU/Nvidia". If your hardware can handle it, and the miner I've included
recognizes correctly the graphical card you've got on your computer, it will begin
mining Litecoins for another test worker I've set up at the mining pool POOL-X. It
could take minutes before you get a share though. Mining Litecoins with your
GPU is the way to go nowadays. There are people who have several graphic cards
set up to mine Litecoins at the same time, so it might take you several days to get
an entire Litecoin with a single GPU. You can experience how GPU mining works
on your card by executing the corresponding file though. Now that you have tested
your hardware and know you can mine Litecoins correctly, you may join a mining
pool and change the name of my workers and the URL of POOL-X which you can
see if you edit the files "MineWithCPU.bat" and

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"MineWith(AMD/Nvidia)GPU.bat". Write instead the names of the workers you

created on your pool of choice and its URL:port so as you can mine Litecoins for
yourself (this URL:port information is given to you when you make an account on
a mining pool). If you don't know how to join a mining pool then this may be a
problem. If you want to mine Litecoins solo (it's a possibility if you have VERY
good hardware), follow these steps: Copy the file "litecoin.conf" provided in this
package to your Litecoin working directory (most likely
"C:\Users\YOURNAME\AppData\Roaming\Litecoin"). Now navigate to the
directory where Litecoin was installed (most likely "C:\Program Files
(x86)\Litecoin\") and execute litecoin-qt.exe. Wait until you are fully synchronized
with the network. Execute the file "SoloMineWithCPU.bat" from the folder "Mine
Litecoins with CPU", the file "SoloMineWith(AMD/Nvidia)GPU.bat" from the
folder "Mine Litecoins with GPU/(AMD/Nvidia)" or both of them. Your computer
resources will begin mining Litecoins. It could take you a LOT of time before you
find a full block. Or maybe you are extremely lucky and find one in one minute.
It's impossible to know!
Note 1: the miner provided for CPU mining is Pooler's CPUminer 2.3.2, the one
for AMD GPU mining is CGMiner 3.7.2 and the one for Nvidia GPU mining is
CudaMiner-2013-11-15. Other miners exist which might suit your hardware better
and increase your mining speed.
Note 2: some antivirus programs consider all cryptocoin miners malware. They are
not! The problem is that some bad people included them inside other legit
packages of software so as they would mine for them on other computers without
their owner's knowledge. When they were found, antivirus companies labeled them
as malicious software.

Electrum Litecoin Wallet:

Electrum-LTC is a simple, but powerful Litecoin wallet. A twelve-word security
passphrase (or seed) leaves intruders stranded and your peace of mind intact.
Keep it on paper, or in your head... and never worry about losing your litecoins to
theft or hardware failure. No waiting, no lengthy blockchain downloads and no
syncing to the network.

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HOW TO SELL LITECOIN:

You can sell cryptocurrency Litecoins and get fiat money (convert BTC to cash in
USD, EUR y GBP). We are glad to inform you that we provide one of the most
simple and convenient method of selling - withdrawal to Credit/Debit Cards. This
payment method is inexpensive and available wherever you are located, all you
need is just credit or debit card! You can instantly exchange bitcoins for cash
(400,000 locations worldwide!), withdraw your funds by a bank wire transfer, local
bank transfer, SEPA, instant money transfer, or cash out by other methods. Please
fill the fields below and press "Make order" button. After submitting an order you
will become registered user automatically and the password for your personal
account will be sent to your email. Please note that the rates of cryptocurrencies
(bitcoin, litecoin and others) are dynamic and depend not only on the current
market value, but also on the required amount.
1 litecoin = 603.37 USD / 540.65 EUR / 462.28 GBP / 794.74 CAD other rates >>

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WHERE TO SELL LITECOIN:

HOW TO PURCHASE LITECOIN:

You can buy cryptocurrency (deposit to your digital currency account) like
Bitcoins, Litecoins and others. You can pay your purchase order with USD, EUR,
GBP and other currencies using credit card and debit card (instantly online!), local
and international bank wire transfer, SEPA transfer, cash deposit at 400,000
locations worldwide, instant money transfer and other methods. After submitting
an order you will automatically become a registered user, the password for
accessing your personal account will be sent to your email. Please fill the fields
below and press "Make order" button. Please note that the rates of cryptocurrencies
(bitcoin, litecoin and others) are dynamic and depend not only on the current

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market value, but also on the required amount. If you buy cryptocurrency with
credit/debit cards, info about the buying limits will be useful for you.

Exchange Litecoins and other digital currencies:

If you have a cryptocurrency like Bitcoins, Litecoins and other altcoins, and you
wish to convert it to another cryptocurrency instantly with minimal fees (for
example, exchange Bitcoin to Litecoin, Namecoin to Peercoin, etc.), please fill in
the fields below and press "Make order" button. You will not need to make trade
orders, the process is instant and easy as 1-2-3! Exchanging cryptocurrencies has
never been so easy! After submitting an order you will become registered user
automatically and the password for your personal account access will be sent to
your email. Please note that the rates of cryptocurrencies (bitcoin, litecoin and
others) are dynamic and depend not only on the current market value, but also on
the required amount.
Why is our service the best choice for exchanging litecoins? There are several
reasons:
We are a licensed financial company, regulated by the IFSC. We never work with
our clients on the "honor system"; we provide actual guarantees for the safekeeping
of their funds at the expense of the companys security deposit. Reasonable
commissions, regular promotional offers, and the widest possible choice of
payment methods, from the most popular to the most exotic. Working with us will
be effortless and profitable! A convenient, user-friendly website that anyone can
understand easily, offering a help system, video tutorials, and online consulting.
Professional and user-friendly multi-language support available 24 hours a day, 7
days a week, with no holidays or days off.

PAYMENT METHOD OF LITECOIN:

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Exchange rate:

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FLUCTUATES IN LITECOIN RATE:

Litecoin prices rose nearly 10% today as word the digital currency would be listed
on Coinbase's GDAX exchange spread among traders. The move by the exchange
to list LTC/USD and LTC/BTC currency pairs, however, was long anticipated,
given that litecoin creator Charlie Lee has worked at the startup since 2013.
Launched in 2011 and branded the "silver to bitcoin's gold", litecoin aims to offer
faster transaction confirmation times for merchants. At press time, it was the fourth
larest digital currency by market cap. Notably, litecoin prices began edging
upwards far before the actual announcement, spurred by cryptic tweets and
messages from Lee. According to data from BitcoinWisdom, the price of litecoin
began to spike+*+- at roughly 9:00 UTC, rising from $3.58 to roughly $3.80 at
18:00 UTC, the time of the announcement. During the session, LTC rose 9.3% to

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$4.01 amid heavy volume. But, the move may have been subdued, as the market
has long been aware of GDAXs plans to list litecoin. (The exchange first revealed
it would add the digital currency at some later date on 20th May). Data suggests
traders may have gone so far as to price in this listing long before it happened, as
LTC rose to $4.83 by 28th May and $5.95 by 17th June, CoinMarketCap figures
reveal.

ISSUANCE AUTHORITY:
Litecoin creation and transfer is based on an open source protocol and is not
managed by any central authority. A peer-to-peer network similar to Bitcoin's
handles Litecoin's transactions, balances and issuance through scrypt, the proof-ofwork scheme (Litecoins are issued when a small enough hash value is found, at
which point a block is created, the process of finding these hashes and creating
blocks is called mining). The issuing rate forms a geometric series, and the rate
halves every 840,000 blocks, roughly every four years, reaching a final total of 84
million LTC.

SHA vs. Scrypt:

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While Litecoin and a several other coins are mined using SHA-256, Bitcoin and
many other coins, use Scrypt. This are the two major hashing functions, but several
different kinds exists and are used by other cryptpcurrencies such as scrypt-N and
x11. The different hashing functions were adopted to answer concerns with the
SHA-256. Before, individuals were able to mine Bitcoin with their GPUs, which
require a large amount of energy. But as Bitcoin grew in popularity, ASIC SHA256 machine were built which made GPU mining obsolete. To give you an idea of
just how powerful these machines are, a mining rig running 4 GPUs would get a
hash rate of around 3.4 MH/s and consume 3600kW/h while an ASIC machine can
mine 6 TH/s and consume 2200kW/h. This effectively killed GPU mining and left
many individuals worried about the security of the network. With less individuals
being able to profitably mine from their home computer, the network become less
decentralized. Scrypt mining was implemented with the promise of being ASIC
resistant due to the memory problem it introduced. Scrypt hashes require lots of
memory, which GPUs are already designed to handle and ASIC machines were
not. However, Scrypt mining require a lot of energy and eventually scrypt-ASIC
machines were designed to address this problem. At this point Litecoin considered
changing their proof-of-work function to avoid ASIC mining. Scrypt also taut that
their proof-of-work is much more energy efficient than SHA-256. Bitcoin blocks
are solved at a rate of 1 per 10 minutes while Litecoin blocks are solver at a rate of
1 per 2.5 minutes.

HOW BECOME MEMBER OF CURRENCY:

Just like bitcoin, litecoin has started with a mining reward of 50 coins per block.
However, the litecoin reward will halve every 840,000 blocks. Again this is four
times larger than the 210,000 block threshold in bitcoin. The transaction fee for
litecoin is 0.02 LTC, which is proportionately higher than the minimum bitcoin fee

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of 0.0001 BTC, however, keep in mind that a litecoin is currently worth 0.019
BTC. The factor of four difference between litecoin and bitcoin persists into the
block time too. The block time is the time it is supposed to take miners to confirm
a block on the block chain. For bitcoin this is 10 minutes, but for litecoin it is just
2.5 minutes. This means that litecoin has the potential to be more attractive to
merchants as there will be less time to wait to ensure that a payment has been
received from customers

BENEFITS:
For Litecoin to get back on track, the digital currency community needs to
recognize some of the big benefits Litecoin can offer. One benefit being that
Litecoin transactions are about 4X faster than Bitcoins. This can be utilized with
great success from casual spending to remittances, ensuring faster service time and
less exposure to market volatility. The miners verify all the transactions through
the Litecoins PoW. Miners have to check all the incoming transactions for fraud
detection and for averting the chances of double spending of Litecoins. In case, no
double spending is detected in the network, the miners complete new blocks by
solving mathematical problems and add those new blocks to the blockchain. After
a new block is successfully added to the blockchain, it is then sent to all the nodes
within the network for ensuring total transparency.

Litecoin Cryptocurrency Security:

The security of Litecoin cryptocurrencies is two part. The first part comes from the
difficulty in finding hash set intersections, a task done by miners. The second and
more likely of the two cases is a 51% attack. In this scenario, a miner who has
the mining power of more than 51% of the network, can take control of the global
blockchain ledger and generate an alternative block-chain. Even at this point the
attacker is limited to what he can do. The attacker could reverse his own
transactions or block other transactions. Cryptocurrencies are also less susceptible
to seizure by law enforcement or having transaction holds placed on them from
acquirers such as Paypal. All cryptocurrencies are pseudo-anonymous, and some
coins have added features to create true anonymity.

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Litecoin Cryptocurrency Legality & Taxes:

While cryptocurrencies are legal in most countries, Iceland and Vietnam being an
exception Iceland mainly due to their freeze on foreign exchange, they are not
free from regulations and restrictions. China has banned financial institutions from
handling Litecoins and Russia, while saying cryptocurrency is legal, has made it
illegal to purchase goods with any currency other than Russian rubles. In the U.S.,
the IRS has ruled that Bitcoin is to be treated as property for tax purposes, making
Litecoin subject to capital gains tax. The Financial Crimes Enforcement Network
(FinCEN) has issued guidelines for cryptocurrencies. The issued guidelines contain
an important caveat for Litecoin miners: it warns that anyone creating Litecoins
and exchanging them for fiat currency are not necessarily beyond the reach of the
law. It states:
A person that creates units of convertible virtual currency and sells those units to
another person for real currency or its equivalent is engaged in transmission to
another location and is a money transmitter.
Miners seem to fall into this category, which could theoretically make them liable
for MTB classification. This is a bone of contention for Litecoin miners, who have
asked for clarification. This issue has not been publicly addressed in a court of law
to date.

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Litecoin Cryptocurrency Services:

There are a host of services offering information and monitoring of
cryptocurrencies. CoinMarketcap is an excellent way check on the market cap,
price, available supply and volume of crypto currencies. Reddit is a great way to
stay in touch with the community and follow trends and CryptoCoin Charts is full
of information ranging from a list of crytocoins, exchanges, information on
arbitrage opportunities and more. Our very own site offers a list of crypto
currencies and their change in value in the last 24hrs, week or month. Liteshack
allows visitors to view the network hash rate of many different coins across six
different hashing algorithms. They even provided a graph of the networks hash rate
so you can detect trends or signs that the general public is either gaining or losing
interest in a particular coin. A hand website for miner is CoinWarz. This site can
help miners determine which coin is most profitable to mine given their hash rate,
power consumption, and the going rate of the coins when sold for litecoins.

Bill Gates About Cryptocurrency:

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