LTC Miner

Litecoin (LTC) is a cryptocurrency created as a fork of Bitcoin in 2011. It uses a hashing algorithm called Scrypt that requires specifically designed mining software and hardware. It is minable, and continues to rank in the top cryptocurrencies for value and trading volume.

Litecoin mining is the process of validating transactions in the blockchain, closing the block, and opening a new one. Litecoin uses the proof-of-work consensus mechanism, which uses computational power to solve the nonce, which is part of the hash, that secures the block. The hash is the alphanumeric sequence of numbers that is encrypted by the hashing algorithm. When the nonce is solved, Litecoin is rewarded.

Litecoin mining became popular in 2011 when Charlie Lee, a software engineer at Google, announced its creation as a Bitcoin fork with modifications intended to help it scale more effectively.

Just like Bitcoin, it can be mined on computers using central processing units and graphics processing units. However, it isn't as profitable or competitive as purchasing an application-specific integrated circuit (ASIC) and joining a mining pool.