Litecoin (LTC) is among the popular cryptocurrencies that uses proof-of-work function to secure the network. Invented in October 2011 by Charlie Lee (former Google engineer), Litecoin almost copied the key features of Bitcoin, such as Litecoin blockchain is a decentralized distributed public ledger like Bitcoin. In July 2013, 1 LTC = $2.80 and now, in August 2017, Litecoin has a value of $ in the market.
Done on hardware and specialized computers, Litecoin mining is a bit costly process. For mining, Litecoin uses proof-of-work function to verify the transactions. Each transaction is recorded on the blockchain and a set of transactions forms a new block. There are zero chances of double-spending in Litecoin.
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Litecoin uses the scrypt proof-of-work mining algorithm that allows users to mine the coins. Litecoin can be mined through consumer-grade hardware like GPU. To confirm a Litecoin transaction, it takes only 2.5 minutes; however in Bitcoin, the average time to confirm a transaction is 10 minutes. The market cap of Litecoin is 84 million currency units.
Litecoin mining profitability depends on a number of factors, such as hardware efficiency, hardware hash power, and electricity costs.
In addition, litecoin mining calculators can also be used to find out the estimate of profitability of hardware.
Bitomax is one of the leading cryptocurrency mining service providers across the world. With an access to the leading latest technologies and big industrial data centers, Bitomax provides excellent mining services at an affordable price. Bitomax mining platform simplifies the Litecoin Mining process and provides the newly mined coins in the easiest way. The list of services include –
Mine Litecoin with Three Easy Steps
Start with the registration, as it will take around 2-3 minutes
Check packages which suits you and make payment.
Order process is done. Now check your payouts on daily basis.
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and earn profit upto 108%.