LiteCoin for Dummies – Bitcoints

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Published on May 3rd, 2017 | by bitcoin

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LiteCoin for Dummies

This beginner’s guide should help those who are new to Litecoin to understand the high level differences between these two digital currencies.
Bitcoin mining uses the algorithm SHA-256 which is processor intensive while Litecoin mining uses scrypt which is more memory intensive.
Therefore he created Litecoin with a more memory intensive mining algorithm to make mining Litecoin less efficient for ASICs and was more accessible to everyone.
There is already established infrastructure for Litecoin and exciting news that there might be major new developments on it soon.
Understanding Litecoin Keeping up with Litecoin Thank you to Will Warren and many Coinbase employees especially Charlie Lee and Jordan Clifford.

Source: Blog.coinbase.com



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