The rise of the currency's computing power
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
related website community
< UL >official website of litecoin
official forum of litecoin
lightcoin China community
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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the world's main active countries, the exchange rate of digital currency <
symbol
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lightcoin
LTC
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coblee
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litecoin / org
~ $3.6 billion
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script
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
bitcoin is rising wildly, and e-money has set off a wave of speculation. Light currency (LTC) soared more than ten times, reaching a high price of 300 yuan. At the same time, a large number of counterfeit coins appeared, and the increase was amazing. It's not unusual to see them rise several times a day. E-money market has shown a strong speculative, investment risk has emerged. But is bitcoin the only winner? Is there any other e-coin that can "" the miracle of bitcoin, or even surpass it
assuming the success of e-money in the future, some people say that we only need one e-money. If the number of bitcoin is limited, it's OK to use mbtc or smaller units to trade when the price is very high. Other electronic coins are repetitive and meaningless
let's see how bitcoin has changed from "meaningless behavior" to a successful case, and what experience can be summed up
firstly, based on the combination of private key and public key of electronic cryptocurrency, bitcoin creatively proposed the block chain mechanism, as well as the binding of mining (protecting the whole network) and currency issuance rewards. And the implementation of a constant total to create deflation expectations, difficulty automatic adjustment to ensure fairness, as well as competitive mining and competitive block branches, to maximize the protection of the interests of the holders and miners, to achieve a win-win situation
this mechanism mobilizes the enthusiasm of miners and forms a virtuous circle. BTC rises, calculating power rises, calculating power rises, BTC is more stable and has higher value, so as to promote the price to continue to rise. Until now, bitcoin has formed an indestructible block chain system, which is the most valuable part of the bitcoin system, ensuring the maximum security of bitcoin holders, as well as the decentralized network structure, ensuring the openness and fairness of the bitcoin world. Social capital has invested a lot in bitcoin, forming a whole instrial chain. This is the value created by bitcoin from scratch. Although there are speculative factors, to a certain extent, the market value of bitcoin reflects this value
BTC market value: http://blockchain.info/charts/market-cap
BTC calculation force: http://blockchain.info/charts/hash-rate
but does this mean that bitcoin must be the most successful, and it will forever occupy the market share of the whole e-money in the future without further improvement
next, I'll make a comparison with LTC. Instead of recommending buying LTC, I'll talk about whether LTC can solve some problems of BTC and whether it will cause some new troubles< First of all, BTC has the following problems:
1, long confirmation time
I casually selected the current mining records and found that the block confirmation time was too long. First of all, the BTC default 10 minutes out of the block, has been a relatively long time. For some deals, it's a time of impatience. And because the difficulty is already very high, the block time is further uneven, sometimes it is normal not to block for 20 minutes. These 20 minutes, together with the confirmation waiting time and other processing time of various trading websites, often result in extremely slow recharge and withdrawal speed. It is common to wait for an hour. Waiting for a bitcoin transaction is really a boring thing, which limits its application in reality. Even for this reason, a third party, similar to Alipay's third party centralization letter, is needed to solve.
the two-and-a-half block time of LTC greatly alleviates this problem. An LTC transaction will be completed in a short time without any anxious waiting. It can be said that LTC solves the problem of BTC
2, centralization
although BTC claims to be a decentralized currency, it is relative to legal currency. In practice, e to historical problems and ASIC mining machine problems, BTC's centralization problem is very serious, which can be discussed from two aspects
the first is the centralization of computing power. Although ASIC mining machine is inevitable in history, BTC is rising rapidly, so the centralization of computing power is very serious. It can be seen from this picture that the first and second mines are ready to start 51%. Although it is said that 51% will destroy the whole network, which is not good for the mining pool, bitcoin is a place outside the law after all. Everything is guaranteed by mathematical formulas and algorithms, and credit is established voluntarily. In the face of huge profit temptation, it is inevitable that nothing will happen, or the confidence of the holders will be affected. This is not good for bitcoin
some people say that LTC will develop special mining machines sooner or later, so as to enter the era of centralization. I think there is a degree of problem. After all, it is a fact that bitcoin mines are seriously concentrated, and as long as the concentration of LTC is lower than BTC, the risk can be smaller
the second is the centralization of holding money. I don't have statistics of LTC holding currency here, but I have statistics of BTC holding currency. This centralization of holding money is appalling. This means that a very small number of people control the vast majority of the wealth of the entire network. Of course, some addresses belong to the exchange, but this is absolutely very serious differentiation. Here's the data: http://btc.ondn.net/search
and the centralization of computing power aggravates this situation: half of bitcoin has been g out and concentrated in the hands of a few people, and then the rest that has not been g out will also be g out by a few people (because of the concentration of computing power). The new people have no choice but to pay for it
although some people refute me that since BTC is valuable, it should be exchanged with legal currency. The problem is that when the existing BTC has been monopolized, the future BTC will also be monopolized, and the price is not set by the buyer. It's like everyone says that China's real estate is unfair. If the existing houses are controlled by a few "real estate uncle" people, The land development in the future is also tightly controlled by the Bureau of land and resources. Isn't it true that the common people have to pay for it, and how much they will pay for it is up to them
- the original attitude towards real estate changed when it came to BTC. Of course, the reason is that the bottom of the BTC holder determines the head. As if you bought a few suites, you will say that the real estate market is fair
by contrast, LTC has only g up a quarter of the total, and the computing power is relatively average. Any ordinary people can buy a graphics card to dig their own mines. At least the new LTC can be obtained at a relatively balanced price. From this point of view, if the overall value of e-money needs to be increased by 10 billion or even 100 billion US dollars in the future, then adding all of them to BTC will only lead to a few people becoming millionaires of 100 billion US dollars, which is obviously not the original intention of developing e-money< There is a serious problem with Nakamoto's BTC, which is that Nakamoto has more than 2 million BTCs. Now we are willing to believe that Nakamoto is a good man and a God, but how can we trust an indivial when we believe in mathematics and physics? On the premise of minimum trust, Nakamoto is also a mortal. If the market value of BTC is large enough, Nakamoto's goods will become a time bomb. Even if he doesn't drop the price, he becomes the God of the world and has the most wealth. Not to mention that some BTCs confiscated by the FBI will be auctioned sooner or later. This good thing that has contributed to the American people will be left to the people of the world
LTC does not have this problem. The history is very clean. We dig together and everything is open. When digging LTC, many players already have BTC experience, so the mining is relatively balanced at the beginning, and there is no private situation such as the founding team stealing. This has laid a good foundation for LTC.
4. Whether the gold silver ratio is applicable to BTC and LTC is a funny question, which just shows the ignorance of public speculators. Bitkin, Wright silver, said that this statement of the media is a manifestation of extreme ignorance
first of all, is the value of e-money related to the circulation? If the circulation of LTC is a quarter of that of BTC, is the value of LTC a quarter of that of BTC? If I issue a kind of NCC with brain damage now, with only one circulation, should the price be 9999999
it's just as ridiculous to anchor the issue volume as to compare the circulation of stocks. Money can only be valued by the total market value. It's meaningless to talk about circulation. As for the gold and silver ratio, it's a big laugh. The ratio of gold and silver is determined by the instrial value and output of gold and silver. Electronic money has no value other than monetary property, and there is no such thing as output and reserves. The output and reserves of money are only monetary units. If you don't understand this, you can go back to the furnace
moreover, BTC and LTC have direct exchange markets, and their proportion is the result of market game, which is the short-term optimal solution in itself. There is nothing to say. What the market says is what it says, which has nothing to do with the current market, let alone gold and silver
5. About Shanzhai coin
some people say that LTC is also a kind of "counterfeit" currency, which has no value. Some people think that with so many counterfeit coins, you can fry any one that is not. I think both views are wrong
first of all, BTC is an open-source e-coin, and the word "Shanzhai" itself contains a strong central idea in the minds of the Chinese people, hoping that an Immortal Emperor or Nakamoto congda God has made a kind of immortal coin, and the others are all from "Shanzhai". In the open source world, everyone has the right to make money. Any money is "counterfeit" money. Bitcoin was worthless before, and its value was given after the market recognized it. As long as another currency can also be recognized and accepted by the market, it is reasonable to give it a market value, and the amount of market value given is also determined by the market, which may not exceed bitcoin
assuming that the long-term market is effective, excluding speculation, whether a currency can be given value by the market mainly depends on several factors (I personally think)
in technology, lightcoin has almost the same implementation principle as bitcoin. It is based on an open source encryption protocol in the process of creation and transfer. Like bitcoin, lightcoin is also not managed by the central authorities
as we all know, bitcoin is proced through mining machine. The Leyte coin is also proced by "mining". In the whole mining process of Leyte coin, the computer graphics card will carry out the relevant hash operation. When our "miner" calculates the "burst value", you can get 50 Leyte coins. However, with the continuous growth of the computing power of Wright coin, it is not possible to use a few "mining machines" to dig Wright coin. Therefore, it can only be added to the "ore pool", so that all the calculation power can be collected, and the "ore burst value" can be calculated more easily
the expected total number of online currencies for lightcoin is 84 million, which is four times the amount of online currencies issued by bitcoin. We can use Leyte currency to exchange legal currency and bitcoin. In general, it is through online trading platform. Since the transaction of Leyte coin is irreversible, the revocable transaction cannot be carried out, because it will bring the risk of refund.
According to the domestic bitcoin, lightcoin trading platform bitcoin China and fire coin network quotation: at present, the price of lightcoin is about 58 yuan
recently, e to the FBI auction of bitcoin and the rumor that the Bank of communications will thoroughly investigate the account number of bitcoin trading platform and the impact of bitcoin core developers' outcry for stagnation in the development of bitcoin basic protocol, the prices of bitcoin and lightcoin have dropped. Among them, the price of lightcoin has not been affected by the rising price of bitcoin. The price is moderate and keeps growing slowly. When the price of bitcoin falls, lightcoin still falls
extended data:
design purpose
based on bitcoin protocol, but different from bitcoin, 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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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
in addition to Wright coin, bitcoin, Ruitai coin and vitality coin do not have price limits.