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Author Topic: DEFINITION of 'Litecoin Mining'  (Read 1229 times)

Offline Meher Afroz

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DEFINITION of 'Litecoin Mining'
« on: February 12, 2018, 07:30:00 AM »
Litecoin mining is the processing of a block of transactions into the Litecoin blockchain. Litecoin mining requires solving for algorithms, and being the first to reach a solution is rewarded with tokens as payment.
Litecoin mining is done by specialized computers and hardware. It serves two main purposes:
1) It secures the network and verifies transactions.
2) New litecoins are paid out as a reward to miners.
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DEFINITION of 'Litecoin Mining'
« on: February 12, 2018, 07:30:00 AM »

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