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Scrypt favours large amounts of high-speed RAM, rather than raw processing power alone. To highlight the difference in hashing power, at the time of writing, the total hashing rate of the bitcoin network is over 20, Terra Hashes per second, while litecoin is just 95, Mega Hashes per second.
These devices can handle the calculations needed for scrypt and have access to blisteringly fast memory built into their own circuit boards.
The main difference is that litecoin can confirm transactions must faster than bitcoin. The implications of that are as follows:. Transaction speed or faster block time and confirmation speed are often touted as moot points by many involved in bitcoin , as most merchants would allow zero-confirmation transactions for most purchases. Hamlin has a background analyzing charts and trends for the world's largest market research company, is versed in fundamental and technical analysis and has consulted to Fortune companies around the globe.
Hamlin is a cycles investor, student of Austrian economics and speaks regularly at investment conferences. The Gold Stock Bull newsletter is focused on finding junior mining companies that are undervalued relative to their peers and early-stage cryptocurrencies and ICOs that can provide investors with high levels of returns. Want to read more Streetwise Reports articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published.
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Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. Charts and images courtesy of the author. A company that aims to become the lowest-cost producer for digital currency mining and blockchain infrastructure has picked up a facility with low-cost electricity in Washington State.
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Technical analyst Clive Maund discusses why he thinks Bitcoin is about to take a dive.