A Litecoin is like Bitcoin, yet more will be mined and they have a higher mining capacity. There will be 84 million Litecoins to be mined whereas Bitcoin will be 21 million. In a way, you can view that Litecoin to Bitcoin is like Silver to Gold.
Litecoins can be mined from any computer, regardless of GPU, but as usual, the more powerful the computer, the more Litecoins will be mined. The program is not easy to install and one must know a certain amount of programming to get the interface onto the computer. It also requires a significant amount of “tweaking” to get the numbers correctly and mining at maximum rate.
Litecoin started with miners generating 50 coins per block as with Bitcoin, but to maintain Bitcoin’s inflation rate change schedule, the block reward gets halved every 840,000 blocks. As a result, the network is scheduled to produce a total of 84 million litecoins.
It is also good to know that the “ASIC” mining rigs are NOT designed to mine Litecoins!
Miners will initially generate 50 coins per block. In light of our faster blocks and to properly mimic Bitcoin’s generation trajectory, the amount of coins generated gets halved every 840,000 blocks. Litecoin is therefore scheduled to produce roughly 4 times as many units as Bitcoin, or about 84 million litecoins.
The Pioneer Rig can mine massive amounts of Litecoins while mining Bitcoins. Our technician will already have the Litecoin program and interface installed for you, taking out all of the frustrating guesswork.