Can bitcoin asic mine litecoin
So instead of just being able to make blocks at will, miners have to produce a cryptographic hash of the block that meets certain criteria, can bitcoin asic mine litecoin the only way to find one is to try computing many of them until you get can bitcoin asic mine litecoin and find one that works. This is why you will often see Litecoin categorized as a virtual or digital currency. The main advantage of this system is that users can enjoy steady payouts and minimal variance, and don't have to wait for blocks to be found and confirmed.
What are Mining Pools? This page is for you. ASIC hardware can mine litecoins extremely efficiently, but that's all it can do. Litecoin is peer-to-peer and decentralized, meaning that it is not controlled by any single entity or government.
In a pay-per-share PPS system, users are not rewarded based on how many blocks the pool actually finds, but rather on how many blocks the pool was expected to find given the amount of work done by its users. Litecoin mining can be profitable, but only under certain conditions. This network difficultyso called because can bitcoin asic mine litecoin is the same for all miners, can be quantified by a number; right now, it is 9, Don't feel like investing in expensive hardware?
A purely proportional system can unfortunately be easily cheated by pool hoppingwhich is why more elaborate versions like PPLNS and DGM have been invented. Even with powerful hardware, it could take a solo miner months, or even years! Can bitcoin asic mine litecoin buyers should be extremely careful, as various elements should be considered:. Choosing a mining pool can be a very personal decision, and several factors should be taken into consideration, including features, reliability, reputability, and user support. In particular, there have been many horror stories about preordering mining hardware.
Litecoin mining can be profitable, but only under can bitcoin asic mine litecoin conditions. Should You Mine Litecoins? The downside is that the pool operator has to take on the risk of bad luck, so running a PPS pool can be financially risky. This network difficultyso called because it is the same for all miners, can be quantified by a number; right now, it is 9,
The way Litecoin makes sure there is only one blockchain is by making blocks really hard to produce. Proportional systems are round-based: This is why you will often can bitcoin asic mine litecoin Litecoin categorized as a virtual or digital currency. Therefore, unless you're a historian doing research on the early days of Litecoin, GPU mining is almost certainly a bad idea.
The main advantage of this system is that can bitcoin asic mine litecoin can enjoy steady payouts and minimal variance, and don't have to wait for blocks to be found and confirmed. Potential buyers should be extremely careful, as various elements should be considered: The way Litecoin makes sure there is only one blockchain is by making blocks really hard to produce.
In particular, there have been many can bitcoin asic mine litecoin stories about preordering mining hardware. It cannot be refitted for other purposes, so the resale value is very low. A purely proportional system can unfortunately be easily cheated by pool hoppingwhich is why more elaborate versions like PPLNS and DGM have been invented. Unfortunately, ASIC hardware is far from being a sure-fire investment either. For this reason, it is important to make a realistic prediction of how the difficulty will evolve in the near future.