Litecoin, or the silver coin, is the most popular hard fork of Bitcoin. This coin is based on the Scrypt algorithm, which is more memory intensive, thus allowing Litecoin mining with cheaper hardware. The mining can be also achived with rented hardware. If you dont want to care about all the setup questions you can consider using a cloud mining service. In these pools, users combine their hashing power, thus increasing the chance of a reward. When the pool finds and solves a block, the rewards are distributed among its members depending on the reward system in that pool and the contribution of each miner.
How to Mine Litecoin: Understand How Litecoin Mining Works
Mining Calculator | davidkarnowski.com
Mining litecoins since October 21, New to Litecoin mining? Read our Beginner's Guide! Every valid share you submit to this pool is instantly credited to your account at the current pay-per-share PPS rate. This rate, expressed in litecoins, also takes into account merged-mined coins such as Dogecoin, resulting in higher payouts than a regular Litecoin pool.
Litecoin Mining Calculator
Let me guess. I am sure you know all about Bitcoin and how popular it is, but more and more people are now choosing to mine Litecoin instead! When people mine Bitcoin , it takes 10 minutes for the network to confirm each block, but Litecoin is four times faster at just 2. This means that I am going to need to tell you exactly what mining is, the different ways you can do it, and why you might need to get hardware before you can begin!
While it is now considered too late for hobbyists without expensive ASIC processors to start mining bitcoins , many of the alternative digital currencies are still well suited for mining on your home PC. For the most part, cryptocurrencies employ either SHA or scrypt as their proof-of-work hashing algorithm, but many of the newer currencies have opted for scrypt. Scrypt tends to be the more memory intensive of the two — however, home PCs with reasonably powerful graphics cards can still mine those cryptocurrencies quite effectively, as there are no dedicated ASICs to compete with — yet.