Getting started with Litecoin Mining and setting up your Litecoin Miner
If you think you are too late to join the Bitcoin bandwagon and get mining and reap herculean profits out of it, maybe you could look at alternatives and learn and decide to mine Litecoins. So if you have made your research and done your understanding and are looking to mine coins without having to invest in heavy ASIC machinery, Litecoins is actually your best choice right now.
That being said, it is important for you to follow the steps mentioned here closely and check off all the requirements so as to successfully mine Litecoins.
Step 1 : Do your research
When it comes to your money and making investments using your money, always remember to never go into something like this without doing your research and properly educating yourself. Go through numerous articles and tutorials available online to learn about the entire Litecoin platform and how it works.
Step 2 : Obtain a wallet
Obviously, you would need a place to securely hold your hard earned Litecoins once you’ve mined them. This is a step that would be required later after the mining but we are already making sure we have our hands on it. A Litecoin wallet serves just this purpose. The Litecoin Core wallet is a kind of the ‘official’ digital wallet for Litecoins. There are a wide variety of options available in this matter from mobile apps to web based platforms. Airbitz, Blockchain, Freewallet, My Celium Wallet are a few of the most popular and reliable mobile apps to create your digital wallets on. The Ledger Nano, Jaxx, Exodus, Coinomi, LoafWallet, and LiteAddress wallets are several other options available to users.
For those people who want to go for something different and try a web based platform, Coinbase, Circle, Blockchain, Strongcoin, Xapo are a few of your best options. Enable two factor authentication on your wallets since your wallet is now your most prized possession. Always prepare a backup for your wallet which no one can reach or access. Do not share your private key with anyone no matter what.
Step 3 : Researching about miners
Once your wallet is set, you need to go ahead and turn the Internet upside down to look into several options available and then choose a Litecoin miner hardware that best serves your purpose and need. Read about what all you already have, like graphic cards etc and what all you would need to purchase additionally. Make a list of all these requirements and then set forth to buying them.
Step 4 : Get your hands on some cool graphic cards
For effective mining process to undergo, try and get your hands on some awesome graphic cards that would make your life much much much easier. The Nvidia GTX 1070 is a great graphic card to be used for mining hardwares too. With a high hash rate of 30mh/s, it offers a Core Clock of 1,506MHz, a memory of 8GB GDDR5, a memory clock of 8Gbps and a power draw of 150W. This is a great option for people considering mining as a long term investment plan.
The AMD Radeon RX Vega 56 is another very popular option when one is looking for a high performance graphic card offering high hashing rates. It has a core clock of about 1,156MHz and an even impressive memory of 8GB HBM2, memory clock of 800MHz and power draw of 210W, it is cheaper to boot but runs a little hot.
Step 5 : Choose your Litecoin miner
One of the most powerful and maybe the best choice to go for with respect to your Litecoin miner is the ANTMINER L3+. The L3+ Scrypt miner enables mining of not just Bitcoins but Litecoins too. It has a hash rate of ~504 MH/s and does not eat up a lot of electricity which gives you some relief from that point of consideration. Weighing just 6.5 kgs it is very lightweight and also very cost effective even in terms of shipping.
Step 6 : Join a mining pool
Do you have any idea how much more easier your life would get if you join a mining pool? You might want to feel a little adventurous and want to do it all on your own but get yourself involved in a mining pool, seriously. Mining alone can be quite a tedious process and you would have to wait long hours to get a block of transactions confirmed. The most popular and much used sites for this purpose are the Bitminter, Kano Pool, Eligius, Slushpool. You can easily pool together your computing power with other miners and help out everyone while making your life easier too.
Step 7 : Check mining profitability
Would it not be great to already predict the outcome of something and make sure that every step you take would only help you make profits? That might take the thrill out of the entire thing but what use is thrill when you are constantly losing a huge amount of money and just making yourself more and more broke? That being said, learn how to use a Litecoin mining profitability calculator and keep track of all their profits and realise that if they are not making a profit, they should change their investment schemes.
Step 8 : Get a power supply
Of course you know mining is an energy consuming process and so it is important for you to get a power supply which is not just cost effective but also compatible with you miner.
Step 9 : Start mining
Finally, fire up your miner by connecting it to the power supply. There would be a user manual that came with your miner. Just give it a thorough reading and it would help you set it up. Integrate your miner and your mining software. Find your IP address on the admin page of your network router. Type this IP address in the your web browser. Look at the ‘connected devices’ on the admin page, find the name of your miner (mining hardware), and select it. This action should display the IP address of your miner. Copy and paste this address into your web browser. This opens the admin page of your miner, log into it using your credentials which are generally printed in the users manual of the miner. Immediately click on ‘Miner Configuration’ and type the URL address, username and password of the mining pool you selected for yourself earlier. Click ‘Save/Apply’. And you are done.
Step 10 : Two factor authentication
In addition to securing a wallet, one must learn to secure them furthermore. There is never something as too much security and more and more layers of security for your wallet would only keep you safe and secure so as to not get conned and lose all your hard earned Litecoins. The one step to take in this direction is to enable two factor authentication. This was, in addition to entering your credentials to access you account, you would also be required to enter and additional code which is sent that very moment to your mobile number. This is similar to the when one enters an OTP to make online credit and debit transactions.
What is TRON? Is TRON a good investment for 2018?
Understanding the fundamental principles of the TRON project.
The Blockchain’s Distributed Ledger Technology is one of the most secure forms of storing the information but as it is shared among each and every node of the network, privacy is somewhere being compromised, although transparency is maintained. However, apart from the currency point of view, there are a number of other applications in the real world where problems are yet to find solutions.
Any venture is undertaken, which was disliked by the government, was forced to shut down its operations through the centralized governing authority of the Government, but the decentralized concept of the cryptocurrencies has open the new oceans of opportunities, which is in some of the other ways, free from government censorship. Decentralization is a powerful tool which is absolutely independent of government control. Many cryptocurrency coins are used among the network for the transfer of value within it, along with the main intention behind the project being uncontrollable by the government.
Tron is one such cryptocurrency which aims to create a decentralized entertainment content sharing system along with being the future of decentralized social media. The users of the network need to constantly share their content with the other members of the network for which, based on a number of factors, the cryptocurrency will be rewarded in the form of an appreciation.
It’s truly a perfect cryptocurrency destination for all the social media, gambling and entertainment Geeks. Let’s try to gain some insights about the project.
- Currently, as the whole internet revolves around some of the big companies like Google, Amazon, Facebook, Instagram, etc they have complete authority over us, about our identity. Their applications are also designed in an addictive fashion so as to extract the maximum activity through them from us. It is estimated that Google, one of the most powerful search engine, knows about your preferences more than anyone else. Hence sharing your personal ideas and beliefs which such centralized organizations don’t seem to be reliable. Thereby a decentralized system is required, when no one can keep an eye on our personality.
- In the centralized form of an entertainment system, it is worth noting down that they have the complete authority of taking down any particular information or manipulate them according to their requirements. In a decentralized system, there is no concept of censorship and higher transparency is also obtained.
- The users would be paid by the network directly for their contribution for the content to the network without the intervention of any third party in the form of the native cryptocurrency.
- The cryptocurrency organization strictly complies by all the rules and regulations of the governing authority.
- Justin Sun is the founder of the TRON project. He has been able to achieve this fiat, at an early age of 27. He is also well known to have been founded the Peiwo app, which can be considered similar to Snapchat in the audio version, where users record that 10 seconds audio clipping and others listen to it. This app even became the first one to collaborate with TRON.
- Jack Ma, the founder of Alibaba Group, is estimated to be very near and dear to Justin Sun. He was exclusively selected by Jack ma to study at the Jack ma Hupun University. Some of the key developers from the Alibaba group are migrating to the TRON Foundation.
- In other words, Jack Ma can be considered as a mentor for Justin Sun. While Jack ma, himself is backed by prominent figures like Feng Li and Tim berners-lee.
- A top class security is provided by the TRON network as it is supervised by Jorge Guo, a well-known entity who has been endorsed to maintain Security at massive organizations like Google, Huawei, Qualcomm, etc. But in order to be on a safer side one is suggested to hold their cryptocurrency coins in their personal wallet itself.
Is it good an investment option?
With collaborations with key figures like Jack ma and most skilled developers from all around the world on the project, TRON seems to have an amazing future, as it is still in its natal stage. But speculations are haunting the project as Justin Sun is considered to be too young to handle a project at such scale. The fundamental concept seems to be promising enough for the project’s development in future and hence can be opted as a viable investment option.
What is NEO? Is it a good investment? How is it different from Ethereum?
Attributes which render NEO, to become a potential competitor to Ethereum.
Ethereum is one of the most famous cryptocurrency after Bitcoin. Ranking second, according to Coinmarketcap, the crypto protocol provides a standard template in order to facilitate anyone to create decentralized applications in their own customized manner. In those decentralized applications, the virtual commodities which are traded are confirmed on the Ethereum network. Scalability has always been an issue with respect to the Ethereum network due to an adamant usage of these decentralized applications. Crypto kitties were the most trending decentralized app, which had even once caused a clog in the Ethereum network. Let us see both while comparing Neo vs Ethereum.
NEO can be considered as the Chinese version of Ethereum. It is evident, in this world, that the people of China can be considered a bit arrogant in nature or patriotic towards their country, as they restrict themselves from using the Western products and services. They are known to have their own version of Facebook, WhatsApp, Amazon, also one of the most famous cryptocurrency platform, Ethereum which they use extensively. The cryptocurrency network is nothing but a distributed network for the improvement of the smart economy.
Further insights into NEO
NEO protocol basically comprises two kinds of coins, one is the native coin, NEO and the other one being, NeoGas. The concept here is very similar to that of Ethereum. NEO is used for all the transactions which take place under the NEO Network, and the NeoGas is used to used as a fuel for the transactions. All the native tokens were pre-mined and hence no mining process is available but this is not the case for NeoGas, as it is used to reward the nodes of the network to incentivize them, to help in maintenance and verification of the blocks.
The practical use case seems to be very simple. If two users need to undergo an agreement and have a transaction, then they can opt for the NEO smart contract where their assets are first converted into the digital cryptocurrency Neo. Followed by which, according to the rules and regulations, predefined on a smart contract the transaction is undertaken.
NEO vs Ethereum
The cryptocurrency has a lot of similarities with Ethereum. Although it is not exactly the same as Ethereum. Let us see Neo vs Ethereum Analysis.
In the Ethereum Network, an exclusive programming language is incorporated in order to develop the smart contracts, but in case of NEO, smart contracts can effectively be developed by using some of the already existing and popular programming languages like as C# and Java. Also in Neo vs Ethereum, Further developments are being done with respect to the NEO Blockchain, where the creation of smart contracts is to be made available in Python as well as Go too. This feature can be acclaimed as a reason for an advantage of NEO over Ethereum.
Another key difference in Neo vs Ethereum is that can be marked between the two prominent Blockchain’s is that NEO envisages Digital Identity concept whereas Ethereum doesn’t. This feature is highly appreciated in the international market as one needs to trust the other person and somewhat transparency is obtained through this paradigm.
Is NEO worth investing in?
As the token’s total supply is fixed at 100 million, the value of the coin, over time, is bound to experience a bullish trend. The process of the release of the cryptocurrency coin is vested with a Smart Contract, where only 15 million coins are released every year. Half of the total supply was already released earlier itself. This consistent release of coins is what offers stability to it. The platform even provides high scalability and controls the latency with 10,000 transactions per second. Being developed in China the cryptocurrency coin is somehow restricted, for its unconditional adoption by the Asian countries, as China is not a Crypto friendly nation. This could mark a potential risk to the coin.
Although NEO is regarded as the ‘Ethereum of the East,’ restrictions on the cryptocurrencies in the Asian countries can resist the growth of the network. Otherwise, it possesses the potential to leave Ethereum behind. As the cryptocurrency market is highly volatile an extensive background homework is mandatory, before an understanding any investment in the crypto field. One must bet only the amount of funds, that he/she is OK to lose.
Top ERC20 Tokens. The list of Top 100 ERC Tokens.
Some of the most valuable ERC20 tokens.
Below is Top 100 ERC20 Tokens list based on their structural use case.
The native token of the cryptocurrency exchange, Binance. Number 1 on the top erc20 tokens list.
Omisego is an open payment platform. Number 2 on the top erc20 tokens list.
veChain is a platform focusing on various fields. Number 3 on the top erc20 tokens list.
A Token of 0x protocol, for the decentralised exchanges. Number 4 on the top erc20 tokens list.
Zilliqa is deemed to be the next gen blockchain platform. Number 5 on the top erc20 tokens list.
Aeternity Blockchain offers a lightning fast smart contracts. Number 6 on the top erc20 tokens list.
Maker platform makes some of the most stable coins. Number 7 on the top erc20 tokens list.
Bytom is a Blockchain platform for financial and digital asset institutions. Number 8 on the top erc20 tokens list.
It is the native token of one of the most prominent decentralized crypto exchange, Blockonix. Number 9 on the top erc20 tokens list.
The Basic attention token is a decentralized ad Exchange platform. Number 10 on the top erc20 tokens list.
Augur is a decentralized prediction market protocol.
Golem is the first global market for computer power.
Pundi X is a Blockchain service for developers and Investors.
Waltonchain Blockchain collaborates with IOT for better supply chain management.
The token is nothing but the exchange KuCoin’s shares.
Rchain is a Turing complete and byzantine fault tolerant Blockchain.
Status token aims to build iOS and Android interface to access Ethereum.
Populous is an intelligence and invoice discounting platform.
Mixin is a mobile Blockchain connecting various Blockchains.
Mithril is a Decentralized platform for social network.
IOST provides a decentralized platform for Internet of service.
DigixDAO is a Decentralized Autonomous Organisation.
AION is a multi tier system for solving scalability and interoperability.
Aelf is a customizable system for Blockchain.
Loopring is a brand new crypto trading standard where the users have complete control over their assets.
Funfair is aimed to improve casino gambling using Blockchain Technology.
Kyber network aims for an easy transfer between different platforms.
Power Ledger aims for a sustainable development through solar energy and Blockchain Technology.
Loom network allows for a platform to run decentralized apps.
Kin provides a Blockchain platform for chat apps and social media.
Worldwide Asset eXchange allows virtual Marketplaces to run on them.
Dentacoin aims to imotice the dental Industry through Blockchain.
TenX is built on Comit network for frictionless transactions throughout the world.
A decentralized platform for the virtual reality.
Monaco is a Visa Debit card funded by cryptocurrencies used for daily transactions.
Bancor protocol is a standard used for the future smart tokens.
Polymath network connects the developers, KYC providers, legal experts, etc.
Cybermiles is a smart contract template for e-commerce companies.
Dropil is an intuitive platform for the exposure of cryptocurrency domain to the newbies.
It is deemed to act like a fuel to the LIQUID platform.
Enigma is a platform for running end to end decentralized apps.
Paypex aims to improve payment systems by using the Ethereum network.
Ethos provides for a portfolio manager along with universal crypto wallet.
Nuls is open source and aims to provide developmental tools to its members.
Veritaseum drives a peer to peer marketplace which is software driven.
Substratum is a network allowing for content sharing through internet without VPN.
Gifto is an amazing decentralized platform for gifting content creators.
An open source project to improve the decentralized streaming network.
Cortex provides for a suite of state of the art machine learning models.
Dragonchain is a Blockchain platform by Disney.
Salt is a Blockchain backed loan lending system.
The Storm network aims to improve the lives of workers around the globe.
Chainlink is used for helping the smart contracts access resources.
High Performance Blockchain provides for an accelerated Blockchain performance.
TrueUSD is a USD backed stable coin.
Gamecoin is used to tease digital assets of a game through this network.
Noahcoin supports economic development through Blockchain.
Bibox is an encrypted exchange with powers of AI.
Centrality helps startups with their decentralized apps.
Fusion provides architecture and infrastructure to the financial institutions.
Scry.info arranges the upstream, midstream, and downstream datas.
Santiment Network Token believes that Tokens have three dimensions.
Cybervein is a decentralized platform for data management.
Civic platforms helps in the protection of identity.
Matrix AI Network is also regarded as the intelligent Blockchain.
Storj provides decentralized cloud storage solutions.
Iconomi is an asset management platform for digital assets.
Odem is one of the first Decentralised education Blockchain platform.
iExecRLC aims at decentralisation of the cloud service through Ethereum environment.
The Holo community aims to build a decentralized cloud system.
Bluzelle provides for a Decentralised and shared storage environment.
Nucleus Vision transforms offline retail through IoT and Blockchain.
SingularityNET is a Decentralised platform for AI algorithms.
Gnosis supports an amazing forecasting tech which is market dependent.
Medishares is the first mutual insurance marketplace which is globalised in nature.
The Request network allows for customers to initiate a payment request globally.
Revain is a pioneer in the unbiased Blockchain review platform.
The Time New Bank provides a time value transition network.
Dai is a stable coin based on decentralisation.
Smartmesh is the fuel behind a distributed application platform, Spectrum
BnkToTheFuture is specialised in providing alternative financial product.
Ta Ta Tu is a Blockchain based social media platform.
Cindicator is a market analysis platform based on Blockchain and hybrid intelligence.
Quantstamp aims for mainstream Blockchain adoption through the increased smart contract security.
Nexo is a pioneer in the loans backed by crypto.
Enjin Coin is a cryptocurrency for the virtual community.
Aragon is a decentralised application employed to create Decentralised organisations.
Streamr DATAcoin is a censorship free currency restricted within a Blockchain.
Ruffchain is a Decentralised open chain platform for improvement of IoT.
Ambrosus is supply chain based on the Blockchain network.
SONM is an universal supercomputer and SNM is an internal token.
KickCoin provides a payment system which uses KICK Tokens.
Bottos is a public chain with integration with AI along with data and model markets.
CRYPTO20 is the first tokenised index based on the cryptocurrencies around the world.
Po.et is a shared ledger for tracking the ownership of creative digital assets.
Docademic is the Blockchain initiative for improvement of the healthcare Services throughout the world.
Genaro Network is the world’s first decentralised storage network.
Raiden network provides an of chain scaling Solution for increased scalability and faster transactions.
Dynamic Trading Rights was introduced to bring in a trustless and transparent trading if the ERC20 Tokens.
The Arcblock Blockchain provides for a secure and fast payment system.
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Live Crypto Prices
- Bitcoin(BTC) 7377.36
- Ethereum(ETH) 463.933
- Bitcoin Cash(BCH) 784.495
- EOS(EOS) 8.05267
- Litecoin(LTC) 84.7212
- Cardano(ADA) 0.165781
- TRON(TRX) 0.0357887
- Dash(DASH) 245.567
- NEM(XEM) 0.17088
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