You can enjoy all of your favorite Betcoin.ag casino, sportsbook, dice and poker games as well as the affiliate program and community using your litecoin.
Litecoin? Another strain of the blockchain!
Litecoin, what is that?
Just like Bitcoin, Litecoin is peer-to-peer cryptocurrency that enables instant, near zero-cost transfers to any part of the globe and perhaps in near future even on Mars!
With substantial industry backing, liquidity & trade volume, Litecoin is a proven medium of commerce complementary to Bitcoin.
Litecoin is capable of handling much larger volumes of transactions than its parent-counterpart, Bitcoin. Mainly due to more frequent block generation. Which results in merchants getting their money in hand quicker and are able to wait a few extra confirmations when transacting in bigger volumes.
Glance difference between Litecoin and Bitcoin?
Coin Limit: BTC 21 Million - LTC 84 Million
Algorithm: BTC "SHA-256" - LTC "Scrypt"
Block Generation Time: BTC 10 Min - LTC 2.5 Min
Difficulty retarget:BTC 2016 Block - LTC 2016 Block
Block Reward Details:BTC Halved every 210,000 Blocks - LTC Halved every 840,000 Blocks
Initial Reward:BTC 50 - LTC 50
Current Block Reward:BTC 25 - LTC 50
Created By:BTC Satoshi Nakamoto - LTC Charles Lee
Creation Date:BTC January 3rd, 2009 - LTC October 7th, 2011
Creation of Litecoin?
On October 7th, 2011, former Google employee Charles Lee released Litecoin via an open-source client on Github. It was a fork of the Bitcoin-QT client, different mainly in having increased number of maximum coins being produced, slightly modified GUI, different hashing algo and quicker block generation times.
A p2p network similar to bitcoin's handles Litecoin's transactions, balances and issuance through scrypt, the proof-of-work scheme.
Litecoin miners are getting rewarded when a small enough hash value is found, which proceeds into creation of new block. This process is called mining.
The issuing rate forms a geometric series, and the rate halves every 840,000 blocks, roughly every four years, reaching a final total of 84 million LTC.
Litecoin transactions are recorded in the Litecoin blockchain. Roughly each 2.5 minutes a new block is added to the blockchain. A transaction is usually considered complete after six blocks, or 15 minutes, though for smaller transactions, fewer than six blocks may be needed for adequate security.
Where to Exchange Litecoin?
As of February 2015 there are many exchanges that deal with Litecoin. Although some exchanges allow only trading between litecoins and bitcoins, many exchanges provide trading between litecoins and US dollars - Such as 247exchange, Bitfinex, BTC-e, OKCoin, BitBay), Euros (Kraken, Yacuna), and Chinese Yuan (Huobi, BTC China, OKCoin).
Gamble with Litecoin at Betcoin.ag?
Litecoin deposits and withdrawals are available here at Betcoin. You can stay anonymous and enjoy a friendly game each and every night of the evening. Betcoin.ag offers casino, sportsbook, dice and poker games as well as the affiliate program and community using your litecoin. Litecoin blackjack, craps, roulette, bacarrat, slots, pai gow and more are available to you. Sign up today and enjoy all of the innovative gambling options Betcoin provides!Filed under: General