Lightcoin reaches a new high
Publish: 2021-05-27 17:09:51
1. Preface: please make sure that you have a basic understanding of electronic money (especially cryptography money) before reading this article, and understand the basic knowledge of "POW workload proof mechanism", timestamp and block chain system, decentralization, etc., which will not be repeated here
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)
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)
2.
Litecoin (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< better use of digital currency trading platform coin exchange
data expansion:
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
3.
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
4. I think this thing belongs to virtual currency, similar to bitcoin. Do you really make money? Sorry, all the leeks have been harvested. It doesn't make money to make things like this. In addition, you need to know that everyone thinks so, who makes money? There is a colleague around who lost his house in bitcoin speculation. As for it? Heaven will not drop pie, or to start brain to create wealth, gentlemen love money, right?
5. Compared with the market scale it may become, bitcoin is still a relatively small market at present. Therefore, the price of bitcoin will rise and new bitcoin will be issued at a predictable rate of graal decline; There is less demand. At present, only a small amount of bitcoin is in circulation, which can make the market price fluctuate up and down without a lot of money. The price change of cryptocurrency such as dogcoin is determined by supply and demand. When the demand for bitcoin increases, the price of bitcoin will fall. There is no limit on the price of Fuyuan
the price of bitcoin is determined by supply and demand. The price of bitcoin is still very unstable, which means that the demand must follow this inflation level in order to keep the price stable. The big price change is e to its great volatility
the price of bitcoin is determined by supply and demand. The price of bitcoin is still very unstable, which means that the demand must follow this inflation level in order to keep the price stable. The big price change is e to its great volatility
6.
At 10:00 a.m. on July 3, the opening price of Leyte was 283 yuan / piece, and the highest price was 324 yuan / piece at 13:00 a.m. on July 3, with a 3-hour rise of 14%
7. Up to 380. In December 2013. The strongest rebound in 2014 was from 40 to 188
litecoin (LTC, currency symbol: Ł) 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.
litecoin (LTC, currency symbol: Ł) 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.
8. Lightcoin is an innovation of bitcoin and an experimental proct of bitcoin, which is known as the supplement and substitute of bitcoin. The slogan is "bitkin, lightsilver!" But in fact, the test proct of bitcoin like lightcoin failed, and there was not much innovation
bitcoin is a big experiment of socialization, which has gained wide attention in China since October 2013, especially a large number of reports from domestic media. CCTV media has also reported bitcoin positively for many times, which leads to people's wrong tone towards bitcoin. In addition, the US held an optimistic attitude towards bitcoin in the November hearing, The price of bitcoin was less than 1000 yuan, and it soared to 8000 yuan in less than two months. With the rise of the price of bitcoin, some counterfeit bitcoins are also rising, and lightcoin is one of the representatives.
bitcoin is a big experiment of socialization, which has gained wide attention in China since October 2013, especially a large number of reports from domestic media. CCTV media has also reported bitcoin positively for many times, which leads to people's wrong tone towards bitcoin. In addition, the US held an optimistic attitude towards bitcoin in the November hearing, The price of bitcoin was less than 1000 yuan, and it soared to 8000 yuan in less than two months. With the rise of the price of bitcoin, some counterfeit bitcoins are also rising, and lightcoin is one of the representatives.
9. At present, one view of lightcoin is that it will eventually survive and become an auxiliary currency other than bitcoin. There is a famous slogan on the official website of lightcoin: "bitcoin is gold, lightcoin is silver." Another point of view demonstrates that Leyte coin and other counterfeit coins can not succeed from a logical point of view: if the counterfeit coin succeeds, there will be more counterfeit coins, and the proliferation of counterfeit coins will lead to the collapse of value, and people finally find that bitcoin is the best way to maintain its value; If Shanzhai coin is not successful, there will be no imitators, and the failed Shanzhai coin will eventually disappear. The author tends to think that cryptography currency will eventually become an important member of the world's mainstream currency, and bitcoin is not necessarily the only one, just like the coexistence of US dollar, euro, yen and RMB in real life. There will not be only one kind of cryptocurrency, but there will not be innumerable kinds in the world. In the end, only bitcoin and the other 2-3 counterfeit currencies will survive. In fact, the key to the survival of an open source currency is the public's confidence in it, which comes from its long-term and stable use. In the two years since the invention of Leyte coin, public confidence in it has been graally established. Whether this confidence can be maintained or not, there are still many unstable factors. One of them is that lightcoin is more vulnerable to 51% attacks than bitcoin. Previously, FTC (feather coin), which uses the same algorithm as Wright coin, has been attacked by 51% and led to the collapse of public confidence. In fact, FTC is graally withdrawing from the stage of history. Whether it can resist 51% attacks and survive is a problem that lightcoin must solve. As for whether Leyte can replace bitcoin, we should go a step further: is there a counterfeit coin that can eventually replace bitcoin? The answer is simple: No. In the future, there will probably be a variety of cryptography currencies in the world, but any kind of counterfeit currency can not replace the mainstream position of bitcoin, no matter how excellent its algorithm is compared with bitcoin. We have to admit that bitcoin is not perfect compared with many counterfeit currencies. Its confirmation time is as long as 10 minutes, which is really time-consuming for transactions; 51% attack the sword of Damocles, which is always hanging overhead; From the perspective of environmental protection, the energy consumed by mining is almost wasted. Therefore, many new counterfeit currencies claim that their advantage lies in making up for the defects of bitcoin. But some of the flaws in bitcoin itself are not real. In other words, these defects are deliberately preserved by its inventors after weighing the pros and cons. For example, the 51% attack is rooted in the distributed mining characteristics of bitcoin, a P2P currency. While ripple's XRP currency doesn't need to worry about 51% attacks, and it doesn't need to spend a lot of energy on mining. However, its mode of relying on trust gateway for transaction and centralized currency issuance means that it is very easy to be controlled by government agencies. In addition, even if the design of some counterfeit coins is more ingenious, we should also understand the fact that no matter how excellent the indicators of a proct are, it can not guarantee that it can beat its competitors and achieve success.
10. Its circulation is 84 million, four times that of bitcoin and three times that of Ruitai
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.
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.
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