Light coin litecoin

Litecoin Miner And Mining Factors, Hardware, Difficulty, pools

Litecoin Miner

{* litecoin mining pools *}  Since the Bitcoin BTC has gained a huge popularity and recognition as a digital decentralized currency. Litecoin is introduced as its substitute; it has an online network through which people send payments on peer to peer connection. Litecoin miner is used to mine Litecoin by proof of work process. To send Litecoin, transactions must be enlisted in a block, Litecoin miner then verify these transactions through proof of work (a mining process).

Litecoin mining Hardware

Mining of Litecoin has become more and more difficult and less rewarding. Days are gone when Litecoin mining GPU and CPU are profitable, now ASICs specialized mining hardware is become the successor.  The overall difficulty level of mining reached higher and making it more difficult to mine every day. Litecoin miner GPU is fail in front of highly profitable ASICs. So there is no question raised for, the best GPU for Litecoin mining?

The factors associated for mining are

Power supply:- You definitely don’t want to lose more money in electricity bills than you earn in Litecoin. Keeping the ratio to maximum profit is very difficult.

Network Difficulty:- The level of network difficulty to mine every block of blockchain is getting worse hard. And it will rise constantly in future.

Resale value of hardware:- There is probably no resale value of the hardware in case you want to sellout. Your hardware no matter how costly it was when you bought it the resale value is very low. The reason behind this is the extreme use of hardware in mining, the overused hardware are always damage and is less likely to give optimum output.

Litecoin mining calculator

In order to get the perfect calculation of profit or loss generated through the mining of Litecoin. Litecoin mining calculator is available to get the accurate measurement of efficiency of a Litecoin miner. The ingredient in calculation of crypto currency’s value is finance and accounting of the potential profits.

For examples Cryptocompare.com and litecoinpool.org

The main differences Bitcoin and Litecoin are, the Litecoin has faster confirmation time than Bitcoin which take usually longer time intervals when it got stuck. The second reason is the Litecoin uses different hashing algorithms, Bitcoin uses much complex and hard “SHA-256” whereas Litecoin uses less complex (but still complex) “SCRYPT”.

Also Read: Litecoin price prediction

Litecoin mining pools

Litecoin is termed as a silver coin as compare to Bitcoin which is gold coin. With the huge rise in price of each crypto currency their mining process has become more and more complex. The Litecoin mining pools are generally used to get appointed as a Litecoin miner in group of miners to contribute your resources to mining Litecoins. There is absolutely no space for solo mining hence group of miners mine together and cumulate their processing power and started pool mining with the objective of generating block. And the reward is split according to contributions.

Here are some Litecoin mining pools as per by best of my knowledge.

Name Reward Type Fee(%) Server port

 

Ozcoin DGM/POT 2 spare.ozco.in:9333
POOL-X PPLNS 2 mine.pool-x.eu:9000
Elitist jerks Proportional 1 www.ejpool.info:3333
LTCmine.ru RSMPPS 0 ltcmine.ru:3333
Burside’s PPLNS 0 tc.coinat.com:3333
COinat PPLNS 0 pooledbits.com:8338
Poolbits PPLNS 0 us.ltcrabbit.com:3334

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  • Bitcoin has shown incredible increases over the last few years and there will be some that are claiming that the bubble is soon to burst and the currency plummet. Those of us still believe in the concept of a user owned currency away from the control of the banks. We don’t believe that Bitcoin is finished. We shall be sticking with Bitcoin and are quite certain that Bitcoin will continue to rise more steeply than in the past.

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