Comparison of several mining pools about Litecoin LTC (Litecoin mining pool construction tutorial)

What is the biggest difference between Bitcoin and Litecoin: What are the advantages of Litecoin?

Preface: Please ensure that you have a basic understanding of electronic currency (specifically cryptographic currency) before reading this article and understand "POW work" Basic knowledge such as "Proof of Quantity Mechanism", timestamps and blockchain systems, decentralization, etc. will not be repeated here.

Bitcoin is rising crazily, and electronic currency has set off a wave of hype. Litecoin (LTC) surged more than ten times to a high price of 300 yuan. At the same time, various altcoins appeared in large numbers, with astonishing increases. It is not unusual for them to rise several times a day. The electronic currency market has shown strong speculative nature, and investment risks have emerged. But can only Bitcoin be the only winner? Are there any other electronic currencies that can "copy" the miracle of Bitcoin, or even surpass Bitcoin?

Assuming the success of electronic currency in the future, some people say that we only need one electronic currency. If the number of Bitcoins is limited, just use MBTC or smaller units for transactions after the speculation reaches a high level. Other electronic coins are a repetitive and meaningless behavior.

Then we have to take a look at how Bitcoin turned from a “meaningless behavior” into a successful case, and what experiences can be summarized here.

First of all, Bitcoin pioneered the block-chain mechanism based on the private key-public key combination of electronic cryptocurrency, and bundled mining (protecting the entire network) and currency issuance rewards. It also implements a constant total amount to create deflation expectations, automatic difficulty adjustment to ensure fairness, and competitive mining and competitive block branches to protect the interests of currency holders and miners to the greatest extent and achieve a win-win situation.

This mechanism mobilizes the enthusiasm of miners and forms a virtuous cycle. As BTC rises, the computing power rises, the computing power rises, and BTC becomes more stable and has higher value, thus driving the price to continue to rise. Until now, Bitcoin has formed an indestructible blockchain system. This is the most valuable part of the Bitcoin system, ensuring the maximum security of Bitcoin holders, and the decentralized network structure ensures Openness and fairness in the Bitcoin world. Social capital has invested heavily in Bitcoin, forming an entire industry chain. This is the value created by Bitcoin from scratch. Although there are speculative factors, the market value of Bitcoin reflects this value to a certain extent.

BTC market cap: http://blockchain.info/charts/market-cap

BTC computing power: http://blockchain.info/charts/hash-rate

But does this mean that Bitcoin must be the most successful? , and without further improvement, will it permanently occupy the entire electronic currency market share in the future?

I will make a comparison with Litecoin (LTC) next. I am not recommending buying LTC, but I am talking about whether LTC can solve some of the problems of BTC and whether it will cause some new troubles.

First of all, BTC has the following problems:

1. Long confirmation time.

I randomly selected the current mining records and saw the problem that the block confirmation time is too long. First of all, BTC’s default block generation time of 10 minutes is already a relatively long time. For some traders, this time is impatient. And because the difficulty is already very high, the block generation time is further uneven. Sometimes it is normal for a block not to be generated for 20 minutes. These 20 minutes, coupled with the confirmation waiting and other processing times of various trading websites, often result in extremely slow recharge and withdrawal speeds. It is common to wait for up to an hour. It is really boring to wait for a Bitcoin transaction, which further limits its application in reality. Some people even need to introduce a third-party centralized credit similar to Alipay for this reason to solve the problem.

The two-and-a-half-minute block generation time of LTC greatly alleviates this problem. An LTC transaction is completed in a short time without any anxious waiting. In this regard, it can be said that LTC has solved the problem of BTC.

2. Centralization

Although BTC advertises itself as a decentralized currency, that is relative to legal currency. In actual operation, due to historical issues and ASIC mining machine problems, the centralization problem of BTC is very serious and can be discussed from two aspects.

The first one is the centralization of computing power. Although ASIC mining machines are a historical necessity, due to the rapid rise of BTC, the centralization of computing power is very serious. Judging from this picture, the 1st and 2nd largest mining pools already have the conditions to activate 51%. Although 51% will destroy the entire network and is not good for mining pools, Bitcoin is a lawless place after all. Everything is guaranteed by mathematical formulas and algorithms, and credit is established voluntarily in the face of huge profits. Temptation, inevitably nothing will happen, or the confidence of holders will be affected, which is already detrimental to Bitcoin.

Some people say that LTC will develop dedicated mining machines sooner or later and enter the era of centralization. I think this is a problem of degree. After all, it is a fact that Bitcoin mining pools are seriously concentrated, and LTC’s concentration is only higher than that of BTC If it is low, the risk will be smaller.

The second one is the centralization of currency holdings. I don’t have statistics on LTC currency holdings here, but I have statistics on BTC currency holdings. The centralization of this currency holding is outrageous. This means that a very small number of people control the vast majority of the wealth of the entire network. Of course, some addresses belong to exchanges, but this is absolutely a very serious differentiation. The data is here: http://btc.ondn.net/search

And the centralization of computing power has aggravated this situation: half of the Bitcoins have been mined and concentrated in the hands of a very small number of people, and then the remaining What was mined but not dug out will be dug out by a very small number of people (because of the concentration of computing power), and the new people who come in have no choice but to pay the bill.

Although some people refute me and say that since BTC has value, it should be exchanged for legal currency. The problem is that when the existing BTC has been monopolized, the future BTC will also be monopolized. The price is not determined by the buyer. , it’s like everyone says that China’s real estate is unfair. If the existing houses are controlled by a few people like “Uncle Fang”, and the land for future development is also tightly held by the Bureau of Land and Resources, then wouldn’t it mean that ordinary people only have Pay the money obediently, and is it "them" who decides how much to pay?

——The original attitude towards real estate changed when it came to BTC. The reason is of course that for people who hold BTC, their butt determines their head. Just like if you have bought a few houses, you will definitely say that the real estate market is unfair.

In contrast, only a quarter of LTC has been mined at present, and the computing power is relatively average. Any ordinary person can buy a graphics card to mine by himself. At least the newly minted LTC can be obtained at a relatively balanced price. From this perspective, if the overall value of electronic currency needs to increase by 10 billion or even 100 billion US dollars in the future, then adding it all to BTC will only lead to a few people becoming billionaires. This is obviously not the way to develop electronic currency. original intention.

3. Satoshi Nakamoto risk

There is another serious problem with BTC. Satoshi Nakamoto has more than 2 million BTC. We now want to believe that Satoshi Nakamoto is a good man and a God, but we usually believe in mathematics and physics. How can crypto players trust an individual? Under the premise of minimum trust, Satoshi Nakamoto is also a mortal. If the market value of BTC is large enough, Satoshi Nakamoto's goods will become a time bomb. Even if he didn't ship the goods and cause the market to fall, he would still have become the God of the world and have the most wealth. Not to mention that some of the BTC confiscated by the FBI will be auctioned sooner or later. This good thing that has contributed to the American people will be left to the people of the world.

LTC does not have this problem. The history is very clean. Everyone dug it together and everything is public. When mining LTC, many players already have experience with BTC, so the mining was relatively balanced at the beginning, and there was no such situation as the founding team secretly mining for personal gain. This lays a good foundation for LTC

4. Regarding whether the gold-silver ratio applies to BTC and LTC

This question is very funny and just illustrates the ignorance of public speculators. Bitcoin Gold, Lite Silver, the media saying this is a sign of extreme ignorance.

First of all, is the value of electronic coins related to the amount of circulation? If the issuance of LTC is one quarter of BTC, is the value of LTC one quarter of BTC? If I issue a stupid coin NCC now, and the circulation is only 1, should the price be 999999999?

Anchoring with the circulation volume is as ridiculous as comparing the circulation of stocks. Currencies can only be valued by their total market value, and talking about the circulation is meaningless. As for the ratio of gold to silver, it is even more ridiculous. The gold-silver ratio is determined by the industrial value and production of gold and silver. Electronic currency has no value other than monetary attributes, and there is no such thing as production and reserves. The production and reserves of currency are just monetary units. I don’t understand this. Go back and reheat.

And there is a direct exchange market for BTC and LTC. Their ratio is the result of market games. It is the short-term optimal solution. There is nothing to say. It is whatever the market says. It has nothing to do with the circulation, let alone gold and silver. Say this.

5. About altcoins.

Some people say that LTC is also a "copycat" currency and has no value. Some people think that with so many altcoins, any one that is not speculation can be speculated. I think both views are wrong.

First of all, BTC is an open source electronic currency. The word "shanzhai" itself contains a strong centralization idea in the minds of the Chinese people. They hope that there will be a fairy emperor or Satoshi Nakamoto to create a fairy coin, and the rest are all It comes from "cottage". In the world of open source, anyone has the right to create currency, and any currency is a "copycat" currency. Bitcoin was worthless before, and its value is given after market recognition. As long as another currency can be recognized and accepted by the market, it is natural to give it a market value, and the market value is determined by the market. It may not be unable to surpass Bitcoin.

Assuming long-term market efficiency, after excluding the factors of speculation, whether a currency can be assigned value by the market mainly depends on several factors (in my personal opinion)

Litecoin 마이닝 풀

Litecoin은 "마이너 마이닝"을 통해 생성되어야 합니다. 채굴은 컴퓨터 그래픽 카드에 의한 해싱을 통해 이루어지며, "폭발" 값을 계산하면 시스템은 현재 컴퓨팅 파워인 Litecoin을 한 번에 50개씩 보상합니다. Litecoin의 규모는 급속도로 성장하고 있으며, 채굴자들은 더 이상 여러 대의 컴퓨터를 통해 채굴할 수 없으므로 채굴 풀에 참여해야 합니다. 채굴 풀은 모든 사람의 컴퓨팅 파워를 모두 모아서 "폭발" 가치를 계산할 확률은 다음과 같이 추정됩니다. 더 크다.

현재 가장 유명한 채굴 풀로는 BTCC(이전의 Bitcoin China) 채굴 풀, waltc.net 물고기 풀(F2POOL), WeMineLTC, Coinotron, SilverFish, LiteGuardian, LitecoinPool.org 등이 있습니다. 그러나 현재 가장 높은 수입을 올리는 것은 F2POOL이며, 최근 Litecoin 이론 수입 + 채굴 풀 보조금 10% = 실제 수입을 출시하여 많은 채굴자와 업계의 관심을 끌었습니다.

세계 주요 활성 디지털 통화 환율 통화 기호 출시 시간 작성자 활성 공식 웹사이트 시장 가치 비트코인 ​​기본 설명 비트코인 ​​BTC 2009 Satoshi Nakamoto는 bitcoin/org ~ $243억은 SHA-256 Litecoin LTC 2011 Coblee는 litecoin/org ~ $36억 USD는 스크립트입니다

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