What is more profitable mining litecoin or ethereum

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Participants who consume computing power pay for it with tokens, called Ether; those who contribute processing power can earn them. Of course, buyers and sellers can simply trade Ether independently of these activities. Consider that bitcoin mining is akin to thousands of chefs feverishly racing to prepare a new, extremely complicated dish -- and only the first one to serve up a perfect version of it ends up getting paid. In the Ethereum kitchen, miners serve as the restaurant's landlord, compensated for providing the infrastructure so that Ether chefs can invent new types of cuisine.

In fact, a group of companies and universities has formed a nonprofit expressly to legitimize Ethereum; promote it as an open-source platform and not a commercial enterprise per se; and develop and support those applications that run on it. And these are not rinky-dink startups -- we're talking about major technology players like Intel and Microsoft and financial behemoths like JP Morgan and Credit Suisse.

Which cryptocurrency is the most valuable? Bitcoin remains the most visible and frequently traded cryptocurrency. Which one's the best for you? If only it was that easy. No one knows whether any cryptocurrency will increase in value -- or even be around in a year's time though we think the ones outlined in this article will check both of those boxes.

None of them are regulated yet and only individuals with the highest capacity for risk should get into the cryptocurrency market. That noted, there are significant differences among these three that could be used to form a rational basis for investing in or mining one over another. Bitcoin is the mainstream choice. If you're looking for a cryptocurrency with first-mover advantage, unmatched popular visibility and the highest market capitalization, it's a no-brainer.

On the downside, it's now nearly impossible to mine profitably, incredibly energy-intensive and, after rising more than 1, percent over the past year, could have expended most of its potential for growth. This is debatable. No one knows anything. Litecoin offers its own advantages. Its creator is a known and active entity in the cryptocurrency community.

It has a capacity for faster transactions -- a potential advantage in and of itself, which also provides for a different set of use cases than bitcoin. And it still offers the potential for profitable mining, unlike bitcoin. The Enterprise Ethereum Alliance brings together Fortune companies, research institutions and tech companies and startups.

Enterprise Ethereum Alliance Ethereum has the backing of some boldface names -- which could be a benefit or drawback, depending on your opinion of the modern financial industrial complex. It has the potential for intrinsic value like Litecoin or bitcoin but also more obvious commercial applications as well. And, like bitcoin, it has spawned hundreds of other coins that have been built using its underlying blockchain technology. Regardless of which sounds the most appealing to you, do your research before investing in any of these cryptocurrencies.

Everyone then votes on the proposals. The number of votes allotted to each person is tied to the number of coins contributed. The larger the number of coins given during funding, the larger number of votes awarded.

The Reward Structure Ethereum and litecoin reward miners based on the proof-of-work concept. Ethereum awards five ether for each verified block, and litecoin awards 25 LTCs. Verify the exchange rate for the coins to get a sense of actual reward value for each of the cryptocurrencies. Litecoin also has a cap on the number of litecoins released, and once that cap is reached, no new coins flow into the system. Ethereum has a slightly different model and releases the same number of coins into the system each year.

Proof of Work Litecoin and ethereum use a proof-of-work algorithm during the mining process, but the algorithm that each uses is different. Litecoin mining uses a scrypt algorithm, which favors high-speed random access memory instead of processing power and can be used on computers that are less powerful and use less electricity.

Centralizing mining efforts are highly profitable, mostly from using ASICs, which are specialized chips that are designed to outperform standardized computer hardware. The ethereum transaction cost is determined based on the computational complexity of the transaction, bandwidth use and storage needs. But if you want the ability to create contracts, crowdsource, or streamline management functions, then testing ethereum is your best option.

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And in , Ethereum made its debut, incorporating bitcoin's basic blockchain premise and Litecoin's pursuit of faster transaction speed, but adding a few of its own twists -- including the ability to process little chunks of code, called "smart contracts" -- and on its virtual peer-to-peer network as opposed to a dedicated server or mining rig. Ripple Coinbase's support for bitcoin, Litecoin and Ethereum -- as well as Bitcoin Cash , a new branch of the bitcoin blockchain created in August -- helped install and keep them among the most visible and well-capitalized cryptocurrencies.

Rounding out the top 10, in terms of market capitalization, is a dynamic shortlist that has included established coins and upstarts like Ripple , Cardano , Neo , Stellar , Eos and IOTA. For the purposes of introducing some of the prevailing concepts behind the growing population of cryptocurrencies, we'll take a closer look at the technologies behind Litecoin and Ethereum, how they compare to bitcoin and what they each bring to the table for prospective investors, miners and traders.

The central difference is that Litecoin is mined using the Scrypt algorithm , which is rooted in mathematical computations that are simpler than those used by bitcoin's SHA algorithm. As a result, in contrast to the specialized, super-expensive, energy-intensive mining rigs required to mine bitcoin, you can mine Litecoin with a decent laptop or desktop PC, especially if it's tricked out with a powerful graphics card.

Litecoin And because Scrypt is less mathematically complex than SHA, Litecoin mining is way faster than bitcoin mining. A Litecoin block takes only 2. So Litecoin transactions are also faster to process and confirm. Ethereum Ethereum. Funded in through an initial coin offering , Ethereum fancies itself "an enormously powerful shared global infrastructure" that, in addition to serving as a digital currency, runs special applications called "smart contracts.

Participants who consume computing power pay for it with tokens, called Ether; those who contribute processing power can earn them. Of course, buyers and sellers can simply trade Ether independently of these activities. Consider that bitcoin mining is akin to thousands of chefs feverishly racing to prepare a new, extremely complicated dish -- and only the first one to serve up a perfect version of it ends up getting paid.

In the Ethereum kitchen, miners serve as the restaurant's landlord, compensated for providing the infrastructure so that Ether chefs can invent new types of cuisine. In fact, a group of companies and universities has formed a nonprofit expressly to legitimize Ethereum; promote it as an open-source platform and not a commercial enterprise per se; and develop and support those applications that run on it.

And these are not rinky-dink startups -- we're talking about major technology players like Intel and Microsoft and financial behemoths like JP Morgan and Credit Suisse. Which cryptocurrency is the most valuable? Bitcoin remains the most visible and frequently traded cryptocurrency. Which one's the best for you? If only it was that easy. No one knows whether any cryptocurrency will increase in value -- or even be around in a year's time though we think the ones outlined in this article will check both of those boxes.

None of them are regulated yet and only individuals with the highest capacity for risk should get into the cryptocurrency market. That noted, there are significant differences among these three that could be used to form a rational basis for investing in or mining one over another. Bitcoin is the mainstream choice. If you're looking for a cryptocurrency with first-mover advantage, unmatched popular visibility and the highest market capitalization, it's a no-brainer.

On the downside, it's now nearly impossible to mine profitably, incredibly energy-intensive and, after rising more than 1, percent over the past year, could have expended most of its potential for growth. ERC has become the primary token creation protocol in the crypto space, while, ERC continues to see adoption thanks to an increase in the tokenization of both digital and real-world assets.

The main difference between the two is that ERC tokens are fungible. How Does Ethereum Mining Work? Nodes compete against each other to complete a mathematical equation. The node to add the next block to the blockchain receives a reward of around 3. A block is attached to the ETH blockchain every seconds.

Both mining processes use proof-of-work systems. Consequently, both cryptos consume large amounts of electricity when mined. Ethereum Account Based Protocol Ethereum employs a more simplistic and familiar approach to the problem of double spending. Transactions tracking operates similarly to traditional bank accounts. Unlike Bitcoin, Ethereum users are sending their tokens and not just signature hash inputs. This difference means that each Ethereum account experiences information and direct value transfers with each transaction.

For one, account-based protocols are only possible when you have centralization. This centralization also means that the developers could void, refund, and reverse transactions if they feel the need to do so. They already showed this ability during a decentralized autonomous organization DAO hack on June 17th, Ethereum is still mined using graphics processing unit GPU miners.

GPU miners can mine multiple cryptocurrencies, regardless of their hash algorithm. For many miners, this flexibility is paramount to their mining strategy. Bitcoin Mining: Changes are Coming Ethereum developers announced that in the coming months they plan to move away from the proof-of-work system and institute a proof-of-stake system for mining. Users stake their coins in their wallets on the blockchain to receive a reward based on the number of coins you hold.

This decision to change to a proof-of-stake protocol helps reduce centralization on the blockchain. Five mining pools dominate the Ethereum mining sectors currently. Developers intend to create a hybrid system until the conversion to proof-of-stake is complete. This hybrid will allow miners to opt into the changes as the network implements these changes slowly.

Bitcoin mining profitability comparison because there are so many factors to consider. Both cryptocurrencies will require a substantial investment to start up a mining operation. You should take into account the fact that Bitcoin is much scarcer than Ethereum. This scarcity could result in substantial gains in the value of Bitcoin in the future.

However, Ethereum serves a unique purpose in the crypto space, and both their ERC and ERC protocols are the backbone of the majority of the tokens in the marketplace. This dependency could lead to a scenario where Ethereum overtakes Bitcoin regarding total market capitalization in the coming years.