Created by a former Google engineer, Litecoin is like silver in relation to gold if the gold is Bitcoin. This fast and efficient cryptocurrency is ideal for small transactions and daily expenses. Litecoin uses the Scrypt algorithm, and is mined with specialized ASIC hardware.
How to Earn Litecoin on Cloud mining?
Litecoin cryptocurrency mining (LTC) is somewhat different from bitcoin mining. Among the features of mining litecoin it is possible to allocate:
- New litecoin blocks are calculated on average every 2.5 minutes, which is 4 times faster than Bitcoin.
- Litecoin complexity parameter also changes 4 times more often, but unlike Bitcoin, where It is constantly growing, litecoin complexity is characterized by weekly fluctuations and complexity can not only increase, but also decrease. It is this feature that allowed litecoin to increase the complexity only 5 times in the last nine months, and Bitcoin for this period “complicated” 200 times!
- The algorithm for calculating blocks changed for less dependence on graphics card (GPU) graphics processor resources and makes it possible to use the memory and processor of the computer. But due to the increased complexity in 2017, it is important to mine only on special Asiks.
Such advantages over Bitcoin were laid by developers when creating litecoin. Now let’s see what is left of them today.
Alas, but on mining litecoin is increasingly approaching its “parent”. The increase in complexity inevitably caused an increase in the minimum computational power to calculate the new unit.
According to this, Litecoin mining on Its equipment is no longer relevant and the only way of cost-effective mining today is LTC cloud mining.
Rates for cloud mining Litecoin HashFlare.io
The tariff for rental power for cloud mining Litecoin (LTC) on the website hashflare.io: