nicholas Constable Weybridge - Bitcoin And Litecoin - What's The Difference?

1
Nicholas Constable Weybridge - Bitcoin And
Litecoin - What's The Difference?
Nicholas Constable 
2
Nicholas Constable

• Nicholas Constable The Code Used To Create
  Bitcoin Was Released Into The Public Domain Or
  Made Open Source - By The Mysterious Creator,
  Satoshi Nakamoto. This Means That Anyone Can Take
  It, Modify It And Use It To Launch Their Own
  Cryptocurrencies. Which Many People Have Done
  And Litecoin Was One Of The First To Gain
  Traction.

nicholas constable weybridge
3
nicholas constable weybridge

• Although It Was Originally Based On The Same
  Code, Bitcoin And Litecoin Transfers Are Recorded
  On Entirely Separate Blockchains, Effectively
  Meaning They Are Different Currencies.
• Litecoin Was Created In 2011 By Former Google
  Engineer Charlie Lee. The Aim Was To Create A
  Blockchain-based Currency Which Would Solve Some
  Of The Problems Inherent To Bitcoin In
  Particular The Slow Transfer Speeds. 

nicholas constable weybridge
4
Nicholas Constable 

• When It Was Launched In 2009, Bitcoin
  Transactions Would Take Around 10 Minutes To
  Complete. Due To The Growth In Size Of The
  Network And The Bitcoin Blockchain, Today
  Transactions Can Take Anywhere Between 30 Minutes
  And, In Extreme Cases, Over 24 Hours.

nicholas constable weybridge
5
Nicholas Constable 

• Another problem that Litecoin was designed to
  solve was the mining arms race. Mining the
  process by which new Bitcoins and Litecoins are
  created involves using computer processing
  power to run complex algorithms, creating new
  blocks on the blockchain. Once Bitcoins started
  to be traded for real currencies like US
  dollars, Bitcoin mining quickly evolved into an
  arms race as miners threw increasing amounts of
  processing power into creating coins more
  quickly.

nicholas constable weybridge
6
Nicholas Constable 

• Litecoin Mining, However, Being Based On An
  Algorithm Known As Scrypt, Rather Than The SHA256
  Algorithm Of Bitcoin, Couldnt Be Accelerated So
  Easily Simply By Upping The Amount Of Processing
  Power Being Thrown At The Problem. This Was
  Designed To Lead To The Supply Of Litecoins
  Increasing At A Steadier Rate.

nicholas constable weybridge
7
Follow Nicholas Constable
Webridge

• Nicholasconstableweybridge.Blogspot.Com
• Issuu.Com/Nicholasconstableweybridge
• Https//Www.Youtube.Com/Channel/Ucp3jwgf3_0kdhfl
  fgdy8yoa
• Http//Nicholasconstableweybridge.Blogspot.Co.Uk
  /2017/12/Nicholas- Constable-weybridge-talking.Htm
  l
• Nicholas Constable Weybridge

nicholas constable weybridge