BTCC pit mining course
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
< p
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the world's main active countries, the exchange rate of digital currency <
symbol
< P >
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lightcoin
LTC
201 1
coblee
is
litecoin / org
~ $3.6 billion
is
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
how to mine a mine pool
the location of a mine pool is also very particular. It's not that a mine pool can be built anywhere, but it needs early-stage capital investment. A mine pool is to combine a single mining machine together. Because of the collection of many miners' computing power, the computing power of the mine pool accounts for a large proportion, and the probability of digging bitcoin is higher. The mine pool will distribute rewards according to the contribution value of each equipment
there are many mines all over the world, and the scale of each mine varies from big to small. Generally, small mines no longer have great advantages. Large mines have many miners for mining. For each miner, he can join any mine or join multiple mines at the same time, The first task of the mine pool is to distribute the income to the miners
(1) PPLNs method
this method gathers the shares g by all miners together. Whenever a certain amount of shares is accumulated (generally 30 million shares), the mine pool will allocate the profits of the previous stage to the miners according to the proportion of contribution
in this way, the income of miners depends entirely on the time needed to dig 30 million shares in the mine pool. If you are lucky, you can dig them in a short time, then the income of miners will be more, otherwise it will be less. In return, the pool charges a 3% tax
(2) PPS mode
for users, the income of this mode is relatively stable
the profit mainly depends on the miner's mining speed. As long as the mining speed is stable, the corresponding profit can be obtained, and the profit is real-time, that is, the mine pool will pay the profit for the miner while the miner is running
obviously, every time a block is calculated, the mine pool has paid for all the miners. If the block fails in the subsequent confirmation link, all the losses will be paid by the pool operator. Therefore, this method reces the risk of the miners, but transfers the risk to the pool operator
therefore, usually the ore pool can charge a handling fee to make up for the possible losses caused by these risks. In this mode, the tax of the ore pool is 7.5%
the above is about how to mine. The difficulty of mining has greatly increased, but the mining army is expanding. If the basic equipment does not meet the standard, it will be difficult to gain in the mining instry, because the value of the virtual currency may not be equal to the price of an equipment, and many miners are not just digging bitcoin, Instead, we choose other virtual currencies to mine.
the mining pool is the necessary infrastructure for the exploitation of P2P cryptography virtual currency such as bitcoin (digital currency). It is generally an open team mining server. Its significance is to improve the stability of bitcoin mining and stabilize the miners' salary. At present, the most powerful mining pools in the world are f2pool, antpool, BW pool, BTCC pool and bitfury. Except for bitfury, the rest are from China
with more and more people participating in mining, the computing power of bitcoin network is rising, and it is difficult for a single device or a small amount of computing power to dig bitcoin again. At this time, the mine pool was born
operation principle of bitcoin mine pool
the ore pool is responsible for information packaging, and the access mine is responsible for competing for bookkeeping rights
e to the collection of the computing power of many miners, the computing power of the mine pool accounts for a large proportion, and the probability of digging bitcoin is higher
for example
suppose 1 million people participate in bitcoin mining, and the whole network has 400p computing power, of which 90% of the miners have less than 1p (1000t) computing power. If a 1t miner is put into operation, it will account for 1.400000 of the whole network's computing power. Theoretically, every 400000 10 minutes can dig a block, that is, only 7.6 years can dig a block, and then get 50 bitcoins at a time
then, if I find another 9 miners with 1t dynamometer and reach an agreement, we will have a total of 10 people, and any one of them will be divided equally according to the proportion of each person's computing power, then we are a whole. With a total of 10t computing power, we can dig a block in 0.76 years on average, Then we have five bitcoins mined in 0.76 years. What if we organize 100 people, 1000 people, 10000 people or even 100000 people
if it is 100000 people, I can dig one block in 100 minutes on average. As a member of the team, my income will tend to be stable
this is the basic principle of the mine pool, that is, everyone forms a team to mine bitcoin, you can refer to the "buy together" in the lottery
of course, the above is only a simple description of the basic principles and properties of the ore pool, and the actual situation will be very complicated
the ore pool is a fully automatic mining platform, that is, the ore machine is connected to the ore pool to provide computing power and obtain profits
the bitcoin reward generated by mining in the mine pool will be distributed according to the proportion of each miner's contribution to computing power
compared with single mining, adding to the ore pool can obtain more stable income
I hope this answer will help youbitcoin, like Ruitai, Laite and dogcoin, is a digital currency, which is legal in China.