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Litecoin is Modified but a Better Bitcoin, Here is Why

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Litecoin
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Bitcoin came as a fantasy and it was something never touched by the finance monarchists, simply made by people for people. An autonomous option to exchange money around the world in a fast and cheap way. Now the giants from the corporate field see Bitcoin as something futuristic in the global payment market.

However, even with all this fame, Bitcoin has a few issues. For instance, The first one takes 10 minutes to generate a block. Besides this, bitcoin’s total supply limit is 21 million. It’s clear that there are few flaws. Still, they deliver imperfection in apparent perfect digital currency.

Litecoin is also known as the better edition of bitcoin. It was launched three years after Bitcoin came to existence. The genius who invented the Litecoin is an ex-Googler Charles Lee, who made a twist in Bitcoin’s open source code. That’s why Litecoin is a better real-time currency.

Litecoin Vs. Bitcoin

As is known Litecoin is a decentralized peer-to-peer cryptocurrency as Bitcoin. Not being controlled and operated by someone or something. Because of its user-centric benefits, it has become fast and the second traded cryptocurrency, keeping its place even these days. In fact, many call bitcoin as gold and litecoin as silver.

Users noted the transaction confirmation time for Litecoin is like four times faster than Bitcoin. Besides this, miners prefer mining Litecoin because of less block generation time 2.5 minutes.

Moreover, Litecoin uses an S-Crypt algorithm having a sequential memory a function made by Colin Percival. This function has a huge advantage compared to Bitcoin’s SHA256 algorithm. With huge advantages when we talk about cost-effective mining and speed techniques. So, an individual miner can opt to mine Litecoin over Bitcoin, an option that will save him time and money.

How to Mine Litecoin?

When it comes to mining, it’s not too different to mine a Litecoin than a Bitcoin. Still, mining Bitcoin in the past time became expensive. Mostly when the new ASIC machines came and begun solving blocks fast and low electricity consumption. However, the ASICs its quite expensive adding more headaches to miners’ investment.

For this kind of moments, scrypt mining is the best option for miners and can be made with a GPU machine or a CPU. There are also some specific ASIC miners made for Scrypt coins. However, because of their low-performance rate they dropped. It’s known that scrypt is a memory eater method. But cryptocurrencies can still be mined home on a PC with a powerful graphics card. Note that laptops with integrated graphics cards are no option for mining Litecoin.

How to set a Litecoin Wallet?

Before you begin mining Litecoin, you need something very important to store them, a wallet is the best option to keep it secured. Besides storing miners, money can be used for transferring Litecoin. The downloading process of a wallet is as downloading a MAC or Windows application. There are many open-source and independent Litecoin wallet software available as:

  1. Litecoin QT ( for Mac OS X, Windows, Android, Linux/GNU, and Blackberry)
  2. Electrum Litecoin

What Hardware to choose?

If you don’t feel rich enough, you have a chance of using special mining hardware to mine Litecoin. So, you’ll rely on your CPU or CPU+GPU. Still, it’s better to try much more expensive GPU machines, they have better features for calculating than the CPU machines.

Litecoin’s mining software

After passing all the above steps, you’ll need software to begin mining Litecoin. The most accessible ones on the market are CGMINER and CPU MINER. To boost your block solving power you can use them both.

To trade or hold?

After a day of mining Litecoin, your earnings can be either held or sold in the trading market at a good price. The price of Litecoin has a slight decline compared to last year. But it’s close to reaching the Bitcoin price soon. That it is why is good to watch the technical aspects and fundamentals of Litecoin price before you move on to sell in the market. But you can be a believer and keep them. You can choose to exchange Litecoin on the internet or any other way that will sell them.

For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Encrypgen
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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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Tron
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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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