Litecoin and Ethereum now following BitCoin signals
Litecoin and Ethereum now following BitCoin
As the world of Cryptocurrency continues to grow, so does the other coins follow the trends of the big daddy BitCoin. Litecoin and Ethereum now following BitCoin trends. All on the upwards motion. BitCoin Signals traveled up form November 2017 to December 2017 at a phenomenal rate. It seems that everyone has now jumped on the bandwagon as Litecoin and Ethereum seem to follow suit.
The World of CryptoCurrency
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Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle people – meaning, no banks! There are no transaction fees and no need to give your real name. hence Litecoin, however, uses the scrypt algorithm originally named as s-crypt, but pronounced as ‘script’. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more serialised than those of SHA-256 in bitcoin.
What algorithym does LiteCoin have?
Due to Litecoin’s use of the scrypt algorithm, FPGA and ASIC devices made for mining Litecoin are more complicated to create and more expensive to produce than they are for Bitcoin, which uses SHA-256.
Worth seven cents then, its value increased along with Bitcoin’s, reaching $24 by December, or 329 times its initial value. That means a $110 investment in Litecoin last year would be worth $37,000 now. Litecoin is one of many alternative cryptocurrencies or altcoins what have popped up in Bitcoin’s wake.
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