March 2018
Beginner to intermediate
656 pages
20h 9m
English
Content preview from Mastering Blockchain - Second Edition
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Litecoin
Litecoin is a fork of the bitcoin source code released in 2011. It uses Scrypt as PoW, originally introduced in the Tenebrix coin. Litecoin allows for faster transactions as compared to bitcoin due to its faster block generation time of 2.5 minutes. Also, difficulty readjustment is achieved every 3.5 days roughly due to faster block generation time. The total coin supply is 84 million.
Scrypt is a sequentially memory hard function that is the first alternative to the SHA-256-based PoW algorithm. It was originally proposed as a Password-Based Key Derivation Function (PBKDF). The key idea is that if the function requires a significant amount of memory to run then custom hardware such as ASICs will require more VLSI area, which would ...
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