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Litecoin (Abbreviation: LTC; sign: Ł) is a decentralized peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Inspired by Bitcoin, Litecoin was among the earliest altcoins, starting in October 2011. [4] [5] In technical details, the Litecoin main chain shares a slightly modified Bitcoin codebase.
However, the power consumption, coupled with the costs of the GPU-based computers and the cooling systems required, makes solo mining of DOGE fairly costly and, most experts say, unprofitable.
In October 2011, he released Litecoin on Bitcointalk. [7] He had written the blockchain technology based on Bitcoin in his spare time while employed at Google. He released Litecoin to the public after mining only 150 coins. [5] Lee has stated that he did not intend to compete with Bitcoin but meant Litecoin to be used for smaller transactions. [6]
GPU mining is the use of Graphics Processing Units (GPUs) to "mine" proof-of-work cryptocurrencies, such as Bitcoin. [1] Miners receive rewards for performing computationally intensive work, such as calculating hashes, that amend and verify transactions on an open and decentralized ledger.
In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block. A "share" is awarded to members of the mining pool who present a valid partial proof ...
software [citation needed] BTC-e: 2011 Russia: bitcoin exchange Shut down by the United States government in July 2017 [citation needed] Bundle Africa: 2019 Nigeria: Nigeria: Cryptocurrency exchange, cryptocurrencies [3] Canaan Creative: 2013 China: Beijing: ASIC based bitcoin miners [citation needed] Circle: 2013 United States: Boston: wallet ...
It was first implemented for Tenebrix (released in September 2011) and served as the basis for Litecoin and Dogecoin, which also adopted its scrypt algorithm. [ 7 ] [ 8 ] Mining of cryptocurrencies that use scrypt is often performed on graphics processing units ( GPUs ) since GPUs tend to have significantly more processing power (for some ...
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related to: litecoin solo mining software