What is Litecoin (LTC)?
Litecoin ( LTC ) is a cryptocurrency powered by the Scrypt Proof of Work algorithm. LTC aims to provide an alternative to Bitcoin by making modifications to the original Bitcoin Protocol. Litecoin ( LTC ) was one of the first altcoins created. The Litecoin network was launched on 13 October 2011. LTC is still one of the largest cryptocurrencies by market capitalization since it was first gear created. Litecoin aims to make it easier for merchants to accept LTC payments by making transactions faster than on the Bitcoin blockchain. Litecoin and Bitcoin do have a few keystone differences, for exemplar, transactions are faster on Litecoin and it has a larger total provision ( 84 million LTC ).
Litecoin ’ mho halvings were altered ampere well. Bitcoin halves every 210,000 blocks, while Litecoin halves every 840,000 blocks .
How can I get started with LTC mining on Binance?
Or any miners that support the Scrypt Proof of Work algorithm
LTC Mining Step-by-Step Guide
1. Binance Pool account registration Visit the official Binance Pool web site and register for a Binance Pool account to create a mining report. Please refer to the link below regarding how to create multiple sub-mining accounts to suit your needs : What Is Binance Mining Account and How to Create It 2. Mining configuration setup 2.1 Configure Stratum URL pool 1 : stratum+tcp : //ltc.poolbinance.com:3333
pool 2 : stratum+tcp : //ltc.poolbinance.com:443
pond 3 : stratum+tcp : //ltc.poolbinance.com:25 2.2 Create actor name and password Create worker names in the shape of “ MiningAccount.Worker ” and set up a password. Worker names can be numbers or numbers and letters. For model, if your mine history appoint is MiningLTC, your worker name could be “ MiningLTC.001 ”. Password is optional. 2.3 Mining shape
Take Antminer as an model here. Log in to your Antminer and chatter “ Miner Configuration ”. Enter your details and click “ Save & Apply ” to finish the frame-up. To ensure stable mining, we recommend setting multiple ports. When one port fails to connect, the miner will automatically switch to the following port and cover mining . 3. Check hashrates After the miners are up and running, the performance statistics are expected to be live in approximately 10 minutes. You can select [Workers] on the mine consortium home page to see the active hashrate. note : If you are mining BTC/ETH at the lapp time or have created a BTC/ETH mine account, please make certain you select the right algorithm in holy order to see the active hashrate . 4. Check earnings The settlement cycle calculates from 00:00 of the previous day to 00:00 of the current day ( UTC ). The mining pool payment time is from 02:00 to 10:00 ( UTC ) every day .[Earnings] page, or go to [Wallet] – [Funding Wallet]. You can also transfer your earnings to your Spot Wallet or other Binance Wallets without transaction fees. After the settlement is completed, mining income will be credited to your Binance Funding Wallet. You can check the daily income records from the Binance Poolpage, or go toYou can besides transfer your earnings to your Spot Wallet or other Binance Wallets without transaction fees .
Frequently Asked Questions
Why do I need to set multiple ports?
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We recommend you set multiple ports to ensure stable and sustainable mine. Should one of them be inactive, the miner will automatically switch to the next port to continue the mine. My miner is already running, but the mining pool displays “invalid miner”? The condition will become active after the miner keeps running for approximately 10-20 minutes. If the worker keeps producing invalid shares, please check your settings on the splashboard. If the exit remains unresolved, please contact Binance back