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This is where the action’s really at. Application Specific Integrated Circuits (ASICs) are specifically designed to do just one thing: mine bitcoins at mind-crushing speeds, with relatively low power consumption. Because these chips have to be designed specifically for that task and then fabricated, they are expensive and time-consuming to produce – but the speeds are stunning. At the time of writing, units are selling with speeds anywhere from 5-500 GH/sec (although actually getting some of them to ship has been a problem). Vendors are already promising ASIC devices with far more power, stretching up into the 2 TH/sec range.кран bitcoin bitcoin payoneer bitcoin новости
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There are different ways to mine Litecoin. For instance, instead of having one central authority that secures and controls the money supply, Litecoin spreads this work across a network of miners. Then, miners assemble all new transactions appearing on the Litecoin network into huge bundles called blocks. The way Litecoin ensures there are no duplicate blockchains is by making blocks extremely hard to produce. Instead of just being able to make blocks at will, miners will have to produce a cryptographic hash of the block that meets specific criteria.bitcoin login logo ethereum bitcoin datadir криптовалюта tether etoro bitcoin
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Litecoin Hashrate
As we can see from the charts, the first time the Litecoin hashrate really gained traction was in mid-2017. The current hashrate is about 241 TH/s, still well below its peak of about 500 TH/s, which happened during the leadup to the LTC halving, when the creation rate of LTC gets cut in half every few years.
The Litecoin hashrate. Image credit: BitInfoCharts
It’s interesting to compare the Litecoin chart to the Bitcoin chart, where we can see that the BTC hashrate is near its all time high while Litecoin’s hashrate is still stagnating.
Litecoin Mining Pool
These figures could change at any time, but currently the largest Litecoin mining pool is Poolin. They control about 23% of the hashrate for LTC mining.
Another option is the LitecoinPool which is one of the oldest Litecoin mining pools, having been founded in 2011. LitecoinPool also has a useful chart which breaks down all of the LTC mining pools and what percentage of the hashrate they control.
When choosing a mining pool you should consider at least two factors, how long it’s been active and what the fee is. The longer the pool has been around the more reliable it is. And the lower the fee, the more of the profits you’ll keep for yourself.
Litecoin Mining Calculator
Before you commit to buying some ASICs and setting up a mining operation, it’s a good idea to find out what your estimated profitability could be. A mining calculator will allow you to plug in your electricity costs, the power usage of your mining devices as well as the LTC price that you’ll sell at.
There are a couple of different Litecoin mining calculators. In general, most calculators return a similar result, but you still may want to check several of them just to make sure. Here is the CryptoCompare mining calculator, as well as the Litecoin Pool calculator.
When asked for the mining pool fee, most mining pools charge about 1%. If you find a mining pool trying to charge more, it’s not a good deal.
The CryptoCompare Litecoin mining profitability calculator. Image credit: CryptoCompare
Litecoin Price
Like most cryptocurrencies, the price of Litecoin can be volatile. One of the best ways to keep track of the Litecoin price is by using the Exodus charts.
With the Exodus charts, you can *****m in or out on just about any time frame so you can get a micro or macro level view of price action.
The Litecoin charts are clean and easy to read
Litecoin’s Long History
Litecoin might not be the newest, most groundbreaking cryptocurrency project but it has something really powerful going for it: a long history. In an ecosystem where projects fail or get hacked all the time, Litecoin’s long record speaks volumes about how reliable it is.
Mining Litecoin is a great way to get involved with the project, earn some income and also secure the network. Hopefully this article on the best litecoin mining hardware has given you all the information that you need to get started!
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