Mining Litecoins
Litecoin which is the second most known cryptocurrency after Bitcoin, it is being widely accepted and can be traded for Bitcoin which is becoming a mainstream currency able to be used to buy from major retailers. Litecoins are protected from ASICs. When mining Litecoins, you use a lot of your graphics card's memory. This is why a high overclock on your MEMORY is essential to getting higher k/hash per second.
Mining is the most convenient way to earn Litecoins. It made easy and affordable. Litecoin has been wildly successful, achieving a market cap of over 1 billion dollars last year, at its peak. It has an emerging chart pattern that mirrors the market price movement of Bitcoin. So, the economic incentives are now there to develop ASICs for Litecoin.
Litecoin miner makes money and can begin mining Litecoin, the large amount of electricity needed to keep the power-hungry CPUs working 24/7 makes such mining operations a financially a limiting proposition as the mining difficult rises. Low-power hardware designed for solving these complicated mining calculations (measured in Million Hashes per second) is available in the form of ASIC (Application-specific integrated circuit) and FPGA (Field-programmable gate arrays) chips.
The main differences between the two technologies involve power usage, hash speeds and the up-front cost of setting up the dedicated hardware for mass manufacturing. Luckily, litecoin miners do not have to worry about this difficult step as there are new Litecoin mining companies that already (or plan to) offer powerful dedicated hardware.
Mining is the most convenient way to earn Litecoins. It made easy and affordable. Litecoin has been wildly successful, achieving a market cap of over 1 billion dollars last year, at its peak. It has an emerging chart pattern that mirrors the market price movement of Bitcoin. So, the economic incentives are now there to develop ASICs for Litecoin.
Litecoin miner makes money and can begin mining Litecoin, the large amount of electricity needed to keep the power-hungry CPUs working 24/7 makes such mining operations a financially a limiting proposition as the mining difficult rises. Low-power hardware designed for solving these complicated mining calculations (measured in Million Hashes per second) is available in the form of ASIC (Application-specific integrated circuit) and FPGA (Field-programmable gate arrays) chips.
The main differences between the two technologies involve power usage, hash speeds and the up-front cost of setting up the dedicated hardware for mass manufacturing. Luckily, litecoin miners do not have to worry about this difficult step as there are new Litecoin mining companies that already (or plan to) offer powerful dedicated hardware.