Category: 3. LC Mining

Resources

Hopefully, this guide has helped you get a grasp of the concepts involved in litecoin mining, the decisions you’ll have to make, and some of the considerations that should factor into those decisions. Once you get started, though, you’re almost certain to have specific questions regarding your pool, your...
Read More

Profitability

Calculating the profitability of your litecoin mining operation depends on a number of factors: your hash-rate, the fees your pool charges, the cost of your electricity, the upfront cost of your equipment, and the price of litecoin. A number of mining profitability calculators are available online to help you...
Read More

Workers

Choosing a pool can be stressful. So can choosing a wallet. Litecoin itself is just about unhackable, so long as no pool gains more than 50% of the network’s hash power, but every additional layer between you and the litecoin network requires a measure of trust and potentially threatens your...
Read More

Wallets

You’ll need a place to store your litecoin, known as a wallet. You have a range of options, which impose tradeoffs in terms of security and convenience. The best balance is probably to download the Litecoin Core client. This will take up around 15 gigabytes of space since the client downloads the entire...
Read More

Pool or Solo?

Once you’ve decided what equipment you’ll use to mine, you need to decide how to mine: solo or in a pool. Mining alone, you risk going long periods of time without finding a block. When you do find a block mining solo, however, you keep it all – the whole 25...
Read More

Mining Software

If you are ASIC mining, your hardware likely comes pre-installed with mining software. If you are CPU or GPU mining, you will need to choose your own software, keeping security in mind. A software package could contain malware. You should also watch out for other tricky, if not outright...
Read More

Mining Hardware

One of Lee’s initial claims has not held up, however: the ability to mine litecoin using a computer’s central processing unit (CPU). Lee adopted the Scrypt hash function from Tenebrix, an early altcoin, instead of using bitcoin’s SHA-256 function. The reason, he wrote, was that “using Scrypt allows one to mine litecoin while also mining...
Read More

Why Mine Litecoin?

In October 2011 Charlie Lee, then a software engineer at Google, announced the creation of litecoin, a clone of bitcoin with modifications intended to help it scale more effectively. A little over seven years later, the cryptocurrency has demonstrated the kind of staying power other early bitcoin alternatives couldn’t.https://datawrapper.dwcdn.net/HsW2O/1/Litecoin price Litecoin’s price at...
Read More

What Is Mining?

In proof-of-work cryptocurrencies like bitcoin and litecoin, mining is the process by which the blockchain – a distributed ledger of all transactions ever made on the network – is maintained. Miners receive transaction data broadcast by the various participants in the network since the last block was found, they assemble those transactions into structures called Merkle...
Read More