Litecoin is without doubt one of the oldest and first forks of Bitcoin dating back to October 2011, created by Charlie Lee. As much as 2011, Bitcoin was mined largely by GPUs, making CPU mining, or just mining from one’s laptop, impractical. Mining from your CPU was now not competitive sufficient to win mining rewards on Bitcoin. There has also been the development of FPGA or ASIC mining rigs, magento payment gateway which makes Bitcoin mining even more competitive and expensive.
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It’s estimated that there are at present 2.2 billion individuals internationally who’ve access to the Web or cellphones, but don’t currently have access to conventional systems of banking or change. The cryptocurrency ecosystem holds the potential to make asset switch and transaction processing available to this huge market of keen consumers – once the required infrastructure (digital and regulatory) is put in place.