Lightcoin difficulty halved next time

1.

According to the current difficulty calculation, we can dig about 1.012 Laite coins a day. This is the average calculation result in the mine pool. If there is an efficient mine pool or solo, maybe more

litecoin (abbreviated as LTC, currency symbol: 321;) It is a kind of network currency based on "peer-to-peer" technology. It is also an open source software project under MIT / X11 license. It can help users make instant payments to anyone in the world

lightcoin is inspired by bitcoin (BTC) and has the same implementation principle in technology. The creation and transfer of lightcoin is based on an open source encryption protocol and is not managed by any central organization. Lightcoin aims to improve bitcoin. Compared with bitcoin, lightcoin has three significant differences. First, the lightcoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the lightcoin network is expected to proce 84 million lightcoins, four times the amount of money issued by bitcoin network. Thirdly, the scrypt encryption algorithm first proposed by Colin Percival is used in lightcoin's workload proof algorithm, which makes it easier to mine lightcoin on ordinary computer than bitcoin. Each Leyte is divided into 100000000 smaller units, defined by eight decimal places

design purpose

it is based on bitcoin protocol, but it is different from bitcoin in that even at the present stage, it can efficiently "mine" through consumer hardware. Liteoin provides you with faster transaction confirmation (2.5 minutes on average). It uses hard memory and mining workload proof algorithm based on scrypt (an encryption algorithm). It is oriented to ordinary computer and graphics processor (GPU) used by most people. The litecain network is expected to proce 84 million currency units

one of the design purposes of litecoin is to provide a mining algorithm, which can be run simultaneously on the bitcoin mining machine. With the rise of application specific integrated circuits (ASIC) designed for bitcoin mining, litecoin is also closely following the technological evolution. But before the widespread use of litecoin currency, it is unlikely that there will be an application specific integrated circuit (ASIC) specially designed for litecoin

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transactions

a peer-to-peer network similar to bitcoin handles lightcoin transactions, balances, and issues through a script workload proof scheme (when a sufficiently small hash value is found, the, A block will be created, and the lightcoin will be issued. The process of discovering the hash value and creating the block is called "mining"). The issuing rate of Leyte coins is reced by half every four years (every 840000 pieces) according to the proportional sequence, and finally the total number of LTCs is 84 million. Unlike bitcoin, the memory intensive feature of script makes it more suitable for "mining" with graphics processor (GPU). FPGA (field programmable gate array) and ASIC (application specific integrated circuit) implemented for script are more expensive than sha256 used for bitcoin

currently, lightcoin can exchange legal tender and bitcoin, most of which are through online trading platforms. Revocable transactions (such as credit card transactions) are generally not used to purchase Leyte, because Leyte transactions are irreversible, which brings the risk of refund. As of April 25, 2013, a Leyte is worth about $3.97 or 0.028 bitcoin. This makes Leyte the second largest electronic currency with a market value of about $35 million

client

litecain is a free software project released under MIT / X11 license, which allows you to run, modify and the software according to your own needs. You can also release a modified version of the software if you like

the software is released in a completely transparent form, and users can independently verify the binary version and the corresponding source code

mine pool

the lightcoin is generated by "miner's mining". Mining is done by hashing with computer graphics card. If the value of "mine burst" is calculated, the system will reward 50 lightcoins at one time. At present, the computing power of lightcoin is growing rapidly, and the miner can't find the mine through several computers. Therefore, it is necessary to join the mine pool, which collects all the computing power, It is estimated that the probability of calculating the "blasting" value is higher

at present, the well-known mine pools include BTCC (original bitcoin China) mine pool, waltc.net fish pool (f2pool), wemineltc, coinotron, silverfish, liteguardian, litecoin pool.org, etc. But at present, the highest income is f2pool. Recently, it launched lightcoin theory income + 10% of mine pool subsidy = your actual income, which has attracted the attention of many miners and the instry

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data block chain

litecoin block chain, compared with its competitor bitcoin, can handle larger transaction volume. Due to the more frequent generation of data blocks, the network can support more transactions without modifying the software in the future
as a result, businesses can obtain faster transaction confirmation, and they can still wait for more transaction confirmation when they sell large value procts

In fact, digital virtual currency is far from the above. Forbes magazine listed the top 30 virtual currencies in the market by their total market value and price as of 10:00 a.m. local time on the 27th. Caijing.com and venture capital Post said that there are at least 60 kinds of virtual currencies currently traded According to the Forbes report, bitcoin ranked first in market value and unit price. It was the lightcoin designed by Li Qiwei, a former Google programmer, that won "erlianya". In the past week up to the 27th, the price of lightcoin rose rapidly from $6 to $26, a considerable increase. The third to fifth place in the total market value are spot money, nominal money and prime money. The report counted the 24-hour gains as of the 27th. Almost all of the 30 currencies rose, with the biggest increase of the quark currency, reaching 278.55%. The report also said that almost all virtual currencies have taken a ride in the current round of bitcoin's rise, but most of them have poor business, with 8 companies with a total market value of less than $1 million and 19 companies with a unit price of less than $1

2. According to estimates, the price of Leyte will be halved for the first time around August 26, 2015

lightcoin is inspired by bitcoin (BTC) and has the same implementation principle in technology. The creation and transfer of lightcoin is based on an open source encryption protocol and is not managed by any central authority. Lightcoin aims to improve bitcoin. Compared with bitcoin, lightcoin has three significant differences. First, the lightcoin network can process a block every 2.5 minutes (instead of 10 minutes), so it can provide faster transaction confirmation. Second, the lightcoin network is expected to proce 84 million lightcoins, four times the amount of money issued by bitcoin network. Thirdly, the scrypt encryption algorithm first proposed by Colin Percival is used in lightcoin's workload proof algorithm, which makes it easier to mine lightcoin on ordinary computer than bitcoin. Each Leyte is divided into 100000000 smaller units, defined by eight decimal places

other cryptocurrencies are the same. As time goes on, the speed of encryption will slow down until the output is zero. Dog coin, Fuyuan coin and bitcoin are all like this.

3. Lightcoin, English name is liteoin, short for LTC, was born on November 9, 2011, the founder is Charlie Lee
the purpose of lightcoin is to improve bitcoin, so it has many similarities with bitcoin. In the instry, there is a saying of "bitcoin, lightcoin silver". Compared with bitcoin, the total amount of lightcoin is larger and the confirmation speed is faster
the total number of litecoin is four times that of bitcoin, 84 million; Its proction halved in four years, just like bitcoin; Its consensus mechanism is the same as bitcoin's workload proof mechanism (POW); Its block time is 2.5 minutes, a quarter of that of bitcoin, and it packs a block every 2.5 minutes; The earliest block reward of Laite coin is 50 Laite coins. Up to now (January 2018), Laite coin block reward is 25 Laite coins, with a circulation of about 54 million.

4. Compared with struggling repeatedly in the 2000-3000 range in April, the current price is more than 3000, but the popularity seems to be even colder. Compared with the price at that time, the lightcoin has fallen by half instead of rising, and the LTC / BTC exchange rate has dropped by 1%
however, once it reaches the bottom of the market, it will start to warm up. Don't forget, last year was a big bull market after LTC / BTC fell below 1%

will LTC return to zero
I don't think so. I'm not saying that LTC will not fall any more. I'm just saying that if BTC has a bull market in the future, LTC will certainly have a bull market. The essence of LTC's current decline is that the niche coincides with BTC, which has no characteristics and application. The myth that scrypt algorithm can resist mining machine has been shattered

but what about other counterfeit coins
e to the strategy of fast halving, the computing power of dog coin is far from enough to compete with LTC. In theory, other algorithms such as X11 and x13, which are known to be able to resist mining machines, will be cracked sooner or later. In fact, coins such as mark and black, which are characterized by anonymity, are not very competitive. Anonymity is just a small demand, Can you imagine that money will be completely anonymous in the future? Anonymity is always just a small demand
I saw a "dark forest theory of cryptography currency" before, and I really forgot who put forward it in the circle. What I said was that under the premise of mining machinery, the currency of sha256 algorithm is easy to be killed by Avalon, so it doesn't grow very long; Now scrypt algorithm mining machine comes out, who is the master of this algorithm field? It can only be LTC. After a lot of currencies fall to a certain extent, they are in danger without the support of computing power. They speed up the capital flight, then speed up the escape of computing power, and enter the dead cycle. It's very difficult to get out and finally die slowly
dog coin is now in such a cycle. Coupled with the fact that it has been halved too fast, the escape of computing power is more obvious. Without computing power, the pow coin is a joke. The system is weak, and the big money can only go out, but the price has been falling, so can computing power. In addition, dog is just a fad culture, just like Jiangnan style, Who else is singing in the street now? Therefore, the prospect of dog coin is very bad. The dog coin is like this, and other scrypt coins are not worth mentioning. It seems that LTC dominates scrypt algorithm
BTC applications are colorful and LTC applications are scarce, which can't be compared. However, other currencies don't seem to have any applications either. All kinds of second-generation coins are too busy to worry about. Therefore, it's not a problem. When BTC rises sharply, it's expected that LTC will rise more than BTC
of course, I'm not encouraging you to buy the bottom. I haven't entered the LTC since 60
References: http://zl.yibite.com/point/2014/0814/13553.shtml

6. Now mining is not cost-effective, and it's not enough for electricity. With the second half of bitcoin, mining becomes more difficult. Now we are all trading to get bitcoin and lightcoin. I have long held bitcoin and lettercoin. Never mine.

7. Not entirely, the difficulty of mining is determined by the total power of the whole network. Half of the proction of Leyte coins is suspected to be that the Leyte coins g up in a certain period of time are half less than before. For example, in the past, the whole network could generate 10 leytes an hour, but now the whole network can only generate 5 leytes an hour.

8. There are several reasons:
1. The number of cryptocurrencies of mining type is limited. For example, the total amount of bitcoin is only 21 million (only about 4 million), and the total amount of Leyte is only 84 million (only about 20 million)
2. The difficulty of mining cryptocurrency is increased and the reward is halved. Mining is becoming more and more difficult, and the reward for digging money is also halved. For example, bitcoin design is to halve the mining reward every four years, and lightcoin mining reward will be halved soon
3. Mining costs are getting higher and higher. Mining needs to buy Mining machinery and electricity, low-cost electricity is difficult to find
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