How to install ubuntu and optimize cgminer for litecoin mining rig 1
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In the world of cryptocurrency, there is a tendency for a few coins to gain more popularity for several reasons. The cryptocurrency known as Litecoin is also known as the silver to gold BITCOIN, remains in a place of honor among the cryptocurrency, being one of the most popular today, along with Bitcoin and Ether.
Here are some of the causes for the acceptance of Litecoin and the reasons why continues to grow further into One of the strongest reasons is that Litecoin has been one of the most daring blockchains to experiment with the latest technical advances that developers in the field of blockchain have put at your disposal.
This includes the support of early protocols such as Segregated Witness, Lightning Network, and Atomic Swaps to name a few. SegWit is a powerful technological advance that involves the separation of the signatures of each transaction from the rest of the data that they have. This allows the time to be stored in the blocks, fit more transactions in each one and reduce the time of confirmation.
With this update are improvements in the security of the network, while reducing the costs of commission per transaction. This is a very positive thing to see. Blockchain Litecoin was the first one that was meant to implement this technological advancement, proving its efficiency before it was enabled on the main network of Bitcoins.
The 10 of May was the day of activation of this protocol, which was effective enough to convince the Bitcoin community to apply it also in its blockchain. This has led to us to see how the use of SegWit in Bitcoin transactions has made it possible to undermine blocks without the need to increase the size of their blocks.
The first major change in Bitcoin was to give follow-up was Segregated Witness, and that is why I think it is the most crucial that we have done since the genesis be undermined.
The founder of Litecoin, Charlie Lee has proved to be a great enthusiast of the development of the Lightning Network, which would be the next step in the proper scalability of Bitcoins. Because of this, Litecoin already has been working on it together with the team of Lightning Labs. This Protocol seeks to properly optimize the performance of micro payment systems and the speed of transactions.
This is the kind of thing that is very powerful and useful. This particular technology has been around since the end of the year , although it was not until the beginning of which has allowed its improvement, as well as the development of applications for PC and mobile to prove its efficiency and its potential. However, this technology is still being tested. The best thing to consider in regards to this technology is that many individuals will find it ideal for their needs.
Then you have the Atomic exchanges or swaps. These are transactions between different blockchains without the need for intermediaries. That is to say, that the transfer of funds from a blockchain to another and from a cryptocurrency to another is made directly.
This kind of application could reduce the need for exchange houses and it will give way to other applications that fulfill this function, in the event that will improve to the point that the exchanges are always simple, safe and very practical for the required purposes. This has led Charlie Lee and his team to work on the development of this technology among its priorities together with the Lightning Network, which goes hand in hand in a way that the LN allows atomic exchanges can be performed outside of the chain, bringing lower commissions, at the same time that faster and more privacy, according to the founder of Litecoin.
This is the main goal that they are looking to achieve. On the other hand, according to a reports, Litecoin has been the cryptocurrency alternative with greater adoption on the part of the Bitcoin ATM machines around the world.
Between the months of April and August, the number of ATM with support for LTC rose from and it is expected to continue to increase in the coming years. Add the campaigns that have undertaken a number of adepts to Litecoin, which have been dedicated to promoting the LTC as a form of payment in different physical stores and online requests through letters and emails. This is the kind of information that is making this coin such a great option.
There is no way to deny that great technological development has been achieved so far and to the growth of its adoption, Litecoin this year has shown a significant increase in the volume of transactions in comparison with previous years. In fact, the number of transactions has grown significantly. It seems very apparent that the growth and the value of Litecoin is becoming a very powerful and unique investment opportunity for those who are currently involved in the world of cryptocurrency.
This is more than enough of a reason to get a large number of people to look into this coin and see it as the best option available. The one thing that no one can predict is how well these currencies are going to perform in the coming years and even in the coming months. Things are looking promising for Litecoin, but the treat of regulation and bans in some countries are always proving to be dangerous setbacks for the growth of any cryptocurrency.
Even with the unpredictable outcomes, there is a huge opportunity to invest with very little capital and see an incredible result in the amount of money that you will see in return. This is the kind of risk that is worth taking as long as you understand how cryptocurrency works and how it behaves in the market. Development of the network known as the lightning network The founder of Litecoin, Charlie Lee has proved to be a great enthusiast of the development of the Lightning Network, which would be the next step in the proper scalability of Bitcoins.
Litecoin in the market There is no way to deny that great technological development has been achieved so far and to the growth of its adoption, Litecoin this year has shown a significant increase in the volume of transactions in comparison with previous years.
Final thoughts It seems very apparent that the growth and the value of Litecoin is becoming a very powerful and unique investment opportunity for those who are currently involved in the world of cryptocurrency.