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With the aggressive — and some say, unfounded — surge in the value of Bitcoin and other peer-to-peer digital currencies in recent months, many people are asking how they too can profit from this global craze, well we say get a Litecoin Miner. The deep popularity currently enjoyed by Bitcoin also means that its value has matured, making it an unsuitable choice for rapid growth, and rapid profits. Therefore, we take a look at an emerging alternate cryptocurrrency: Just like Bitcoin, there is no single governing entity that controls the value of Litecoin.
Users are free to mine it, trade it and make instant payments online without anyone knowing the identities of the parties involved. And they also both share a fluctuation in recent prices per coin. However, there are some important distinctions to remember between the two cryptocurrencies also. The founders of Litecoin decided to make their currency more efficient to mine using just consumer-grade hardware. This ease in mining also means that Litecoin transactions are much faster to process.
And whereas Bitcoin is limited to a production run of 21 million units of currency, Litecoin will up the ante with 84 million total units of currency. One mines Litecoin by running free open-source software cgminer is a popular choice in specially-built low-power-consuming hardware. The software utilizes hardware to solve certain complex mathematical functions that are used to verify the authenticity of currency transactions.
In exchange for providing this valuable service, successful miners are rewarded with a certain amount of Litecoin units. Fortunately, low-power hardware designed just for solving these complicated mining calculations measured in Million Hashes per second is available in the form of ASIC Application-specific integrated circuit and FPGA Field-programmable gate arrays chips. As far as a new litcoin miner is concerned, the main differences between the two technologies involve power usage, hash speeds and the up-front cost of setting up the dedicated hardware for mass manufacturing.
Luckily, as we will discover in the next paragraph, litecoin miners do not have to worry about this difficult step as there are many new Litecoin mining companies that already or plan to offer powerful dedicated hardware. Making it the fastest Litecoin miner and all other Scrypt coins, like dogecoin on the market Amazing once again. Products are tentatively scheduled for shipment around the second or third quarter of However, although the final designs for the products are complete, no prototype has been delivered yet.
Additionally, there is no word on the cost to buyers for the different variants of the hardware. We also do not have a final date on when the products will begin shipping.
They offer 2 separate products: They are already taking deposits now and are targeting March for completing product development. This Australian company offers a variety of products for digital currency miners. Preorder is available now and the first batch is likely to be shipped in February There is also a second, higher-powered version of the FPGA-based chip.
The company claims the initial results so far have been very encouraging. No word yet on how many millions of hashes we will be able to uncover per second, or even just how much such a dedicated hardware will cost. We also have no idea if, or when, the product will begin shipping. But one thing we can say for certain is that any ASIC chip designed specifically for Litecoin will get our attention when it is available in the market.
Time will tell if this will be the best litecoin miner on the market. They expect to offer three different variants of ASIC miners: Recursion, Axiom and Epsilon. Each variant will differ in the number of on-board chips, ranging from just one chip in the lower model Recursion to 32 chips in the high end Epsilon.
The company does not know the exact date they will begin shipping but it is expected to be in the first half of They do say that they are not taking preorders. Although shipment for these products began in late , the website is frequently out of stock on these chips. This proof-of-concept open source litecoin miner is based on FPGA internal block ram, which means it is fully compatible with currently available Bitcoin mining hardware.
The exact hash rates users can expect to see depends heavily on the type of hardware used. It is free and already available for testing. So that is our round up of the current Litcoin Miners in development. We will be keep this list update and sharing new developments as they happen. Also check out our Bitcoin Miner Comparison Table. Lets look at the various steps in the […]. Also bitcoin mining hardware and litecoin mining hardware is allowing people to get there hands on Bitcoin and enter a new […].
We review the top companies fighting for the LTC market. What is Litecoin Mining? Update, June 15, More details can be found at the KNCminer Website: Trackbacks […] SDLC is used in everything critical projects all over the world from bitcoin mining hardware and litecoin mining hardware development to D.