Lightcoin portal Forum
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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symbol
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lightcoin
LTC
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litecoin / org
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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
Virtual currency is the currency used for electronic circulation. Now the scope of virtual currency is very large, including q-coin, bitcoin and so on. With the development of digital currency, virtual currency is becoming more and more abundant, which may become the mainstream in the future. For example, BTC, EOS, bcbot and so on are not only virtual currencies, but also algorithms, landing projects and technologies
virtual currency is mainly issued by online game service providers to purchase game props, such as equipment, clothing, etc. But at present, the use of virtual currency has gone far beyond this category. Virtual currency can be used to buy game cards, physical objects and download services of some movies and software
extended data:
real risk
as the proct of e-commerce, virtual currency has begun to play an increasingly important role, and it is more and more connected with the real world. However, with the growth of virtual currency, the relevant laws and regulations are lagging behind, which has laid many hidden dangers
fraud
the private transaction of online virtual currency has realized the two-way circulation between virtual currency and RMB to a certain extent. The activity of these traders is to buy all kinds of virtual currencies and procts at a low price, and then sell them at a high price to earn profits. With the increase of such transactions, there are even virtual mints. In addition to the virtual currency provided by the main company, there are also some people who specialize in "virtual coin making" to obtain virtual currency by playing games and then resell it to other players
Taking Wenzhou as an example, there are about seven or eight such "virtual mints" with four or five hundred practitioners. This not only creates a bubble for the price of the virtual currency itself, but also causes trouble for the normal sale of the issuing company. It also provides a platform for selling and collecting money and money laundering for various cyber crimes. p>
impact system
in modern financial system, the issuers of money are generally central banks, which are responsible for the management and supervision of money operation. As the equivalent exchange goods used to replace the real currency circulation on the Internet, the virtual currency on the Internet is essentially the same as the real currency. The difference is that the issuers are no longer central banks, but Internet companies
if the development of virtual currency makes it form a unified market, each company can exchange with each other, or virtual currency is integrated and unified, and all of them are based on the same standard and price, then in a sense, virtual currency is currency, which is likely to form a threat impact on the traditional financial system or economic operation
reference: network virtual currency
on November 1, 2008, the hermit named "Nakamoto Tsung" watched the sky at night. Seeing that the time was ripe, he announced his new idea of issuing an electronic currency called "bitcoin" on a secret cryptography forum
then, in 2009, bitcoin was born
for a while, there were rumors all over the world:
"what is bitcoin?"
"what's the magic power of bitcoin?"
"can it compare with traditional currency?"
it's just a hermit's "masterpiece left behind". Why did it make such a big stir in the world<
it turns out that this bitcoin has risked the world's great injustice, escaped the high-ranking government control, and set up a "small autonomy" on its own:
bitcoin no longer needs to be issued by a specific institution, but is generated through a set of "institutions" designed by Nakamoto Tsung, which is based on a specific algorithm and through a large number of calculations. Regardless of the world, as long as you have a computer, access system, and operate the "organ", you can become a "coin digger"
a thousand waves were aroused for a while, and an undercurrent was set off in the river and Lake: men, women, old and young were yearning to invest in the "money digging fever"<
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but since ancient times, unique martial arts skills have come out, and most of the onlookers will see through them, but fengmaolingjiao is the one who really understands the mystery
in the same way, this "coin digger" who creates miracles is not something ordinary people can do at will. Even if everyone has a computer and computing tools, it depends on talent and hard work to generate a new bitcoin
if every "digger" wants to dig bitcoin, he has to go into many "mechanisms" of Nakamoto Tsung and use computers to solve a complex mathematical problem through huge calculation. This is far from enough. Whether we can understand the secret is not only related to the ability of the "coin digger", because the "mechanism" will automatically adjust the difficulty of the questions, so that the whole system will get a qualified answer every 10 minutes, while the vast army of "coin diggers" are crazy computing. Who can understand the secret depends on the nature
it's like buying lottery tickets. Everyone is crazy to generate various combinations of numbers with computing tools in hand. Whoever can guess the same string as the big prize will be the winner
in the end, the lucky person who was lucky enough to get a specific solution successfully created a bitcoin, and the reward for him was a total of 50 bitcoins
at this time, someone will ask, is bitcoin hard to get out of the endless mining
this is the true wisdom of Nakamoto's seclusion
like all kinds of gold, silver, iron and copper veins, bitcoin will be g out one day. A total of 21 million mathematical problems have been designed in the "mechanism" and 21 million corresponding qualified answers have been matched. In other words, the upper limit of bitcoin mining is controlled at 21 million
Where is the mystery
we know that the reason why the government calls the wind and the rain is precisely because it has the power to issue currency. Increasing and recing issuance are "fierce moves" to regulate the economy
and Nakamoto's restriction on the total amount of bitcoin has cut off the way for bitcoin market to be regulated, which is obviously the opposite
which is better? There are two schools in the world:
"supporters" think that eliminating intervention is a sign of social progress
the "losers" feel that fixed aggregate may lead to deflation, which in turn will lead to a series of market weakness and "bone breaking" of the overall economy
the merits and demerits will be left to future generations
since there is a reward for digging coins and the total amount is limited, isn't the mine going to be g through in just a few days
How could the "mechanism" that he had painstakingly researched be easily manipulated by the world<
Nakamoto has two rules under the "agency" neutrality:
first, the more bitcoin, the less reward
- when the total amount reaches 10.5 million hours (50% of 21 million), the reward will be halved to 25. When the total amount reached 15.75 million (5.25 million new output, or 50% of 1050), the bounty was further halved to 12.5. And so on
secondly, the more the total number of "coin diggers", the lower the efficiency
in this way, bitcoin will be proced more slowly in the later stage. According to the plan, from the birth of bitcoin in 2009, mining will last more than 100 years, and it will not reach the upper limit until 2140
today, the total amount of bitcoin mined out in the world is just over 16 million
all of the above are just a set of "mechanisms" carefully arranged by master Nakamoto. There is another set of "mechanisms" with such precision
bitcoin is a rare thing in the world, so how to trade it? How to manage
after living in seclusion for many years, Nakamoto studied cryptography, a unique security process for bitcoin circulation
the transaction behind bitcoin is very complicated. Bitcoin can generate bitcoin addresses randomly, and each address has a corresponding private key, which is equivalent to the bank card number and the corresponding password. Only when you have both can you manage your money
but is the complexity of this address comparable to that of ordinary bank cards
how confidential is the bitcoin address
each address is made up of a string of letters and numbers about 33 bits long, always starting with 1 or 3
how many such random addresses are there? The answer is: probably more than the sand on earth
it's not easy to break such a complex "secret protection system"
in this way, with the second "organ" blessing of Nakamoto Tsung, bitcoin circulation has more security than ordinary currency
it's no wonder that with the advent of bitcoin, the currency world is shaking, and a new fight is in the dark
bitcoin, like countless secret lone Rangers, grows savagely under the authority of the government. According to the legend, bitcoin is free (decentralized, tax-free, regulatory free), strong (relying on P2P network, external can not be closed), omnipresent (cross-border, borderless), and anonymous
you can understand, "freedom", "coming and going without name" and "omnipresent", which means that bitcoin can not only be tracked and supervised by the government, but also grow wildly in the world. It's a great way for hackers to blackmail
moreover, since last year, bitcoin has been rising wildly, and hackers all over the Internet know this information well
there is no doubt that bitcoin is a safe and profitable way to blackmail
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or like this< But all the martial arts in the world are strong. Bitcoin also has weaknesses
there are three pithy formulas:
first, bitcoin network is not broken, and trading platform is fragile
Second, the "black market" trading, speculation rampant, price roller coaster day by day
thirdly, it is difficult for ordinary people to understand the secrets of nature because of their profound martial arts
in particular, the third point is that although the Kung Fu is good, the threshold is too high, which is lamentable
then, if you look at China today, where is bitcoin going
to be fair, in the eyes of the mother of the central bank, it is not too much to say that bitcoin is a barbaric growth: in the past year, with the devaluation of RMB, bitcoin has once again become the target of investors' speculation, and its value has increased by 120%
smart passers-by have already seen through everything
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coupled with the emerging bitcoin virus, it seems that it is time for bitcoin to be subject to a wave of regulation.
Cheng issued 40 million yuan of digital RMB red envelopes, which reflects the vigorous development of digital currency, which is changing people's lives in various ways the rapid development of modern information technology, especially the emergence of blockchain technology and distributed accounting, has created conditions for the emergence and development of digital currency. In recent years, the development of global digital currency is speeding up, and presents a trend from private digital currency to legal digital currency. At present, the development of China's legal digital currency is in a relatively leading position in the world
Digital RMB is more convenient, which is of great benefit to people's life. It provides people with convenient trading methods, and the central bank can comprehensively and accurately grasp the total amount of money issued e to monetary policy, as well as its amount and direction of use . Big data and other technical analysis can more accurately judge the future macroeconomic trend, quickly respond to potential risks, and ensure the stability of the government's macro policy and the effective transmission of monetary policy. At the same time, for the currency issued by special monetary policy, the central bank can also issue digital RMB with validity period to solve the problem of investment or consumption, that is, to solve the problem of excess liquidity. Weak demand also solves the central bank's hedging operation after money supply, thus providing more choices for the central bank's monetary policy. We should speed up the use of digital currency