First Bitcoin to Litecoin comparison: Hash Rate Just to preface this post for those who may not know the difference, BTC and LTC use two very different hashing algorithms. BTC uses SHA-256, which was created by the US government's NSA and uses more energy since it requires much more processing power to solve the algorithmic problem tied to each new block. This is why you cannot lay Bitcoin's and Litecoin's hashing rates next to each other in terms of which one is 'stronger' or 'better'. They're just different ways of accomplishing the same end result. LTC uses Scrypt, which is a more memory intensive procssing hash instead of BTC's more power intensive SHA-256. It can also be run on regular CPU's and GPU's for individual miners, but ASIC miners have also captured most of the Scrypt hashing algorithm in relation to Proof-of-Work (PoW) cryptocurrencies, just as they have with SHA-256. As a matter of fact, as we go through the historical numbers you can see when ASICS came into the space and how dramatically they increased the hashing numbers for both Bitcoin and Litecoin. I also want to make it very clear that the time frame I chose to mark the year over year (YoY) growth or decline in total hash rate is not an indicator of any other point in time within a calendar year other than the time frame of 24 June - 2 July in any given year. This means there are higher and lower hash rates throughout each year and the time frame I'm using is simply to gauge a general time close to the timing of this post. But if you look close enough, it does portray a broad paint stroke of what the growth comparisons looke like over time for both chains. Lastly, this is not anything other than an exercise in data consumption for the average person who already understands that both Bitcoin and Litecoin use PoW hashing algorithms, the algorithms are not the same in terms of energy used for mining, and we're more looking at historical information that helps us determine growth patterns based off of everything from halvings to miner interest/profitability, as well as macro global events. These are not ADD posts or for people wanting just a few words. They are meant to educate and evaluate, in other words, information that you can use to better understand everything will be provided along with any visuals. The way learning is supposed to be. This is what any of these post threads will be like that I do, whether it's for mining, addresses, price, transactions, etc. I also don't claim to be a mining expert, and am open to critiques of any information I provide or thoughts I have on the information posted. And now, for the comparisons... 👇👇
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