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What mining pool to use for Litecoin mining (Litecoin mining process)

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What mining pool to use for mining Litecoin? According to official sources, Lite

What mining pool to use for Litecoin mining (Litecoin mining process)

What mining pool to use for mining Litecoin? According to official sources, Litecoin (LTG) officially started mining on May 12, 2020.

What mining pool to use for mining Litecoin? Currently, the mainstream mining pools are BTC.TOP and Poolin; among them, the BCH mining pool includes BTC/USDT, LTC/BTC; and the Poolin mining pool includes LTC/ETH, XMR/ETH.

There are two main modes of Litecoin mining: single-currency mining pool (BTC-HT) and multi-currency mining pool (LTC/USDC); both use the same computing power. The first mode adopts a two-way computing power model. The second mode adopts the P2Plus model, where Litecoin is first deposited into the mining pool and then returned to the cold wallet to reduce costs.

Litecoin mining process

The Litecoin mining process is as follows: In the first step, Litecoin mining begins at Bitcoin block height 630,000. As usual, a new LTC chain address will be generated for every new block mined every 10 minutes. In the second step, the old LTC is transferred to the new blockchain network, and the ETH and BTC reward amounts required (about 4% of the total supply) are calculated based on the account balance to distribute these tokens. In the third step, all Litecoin holders are divided into 100 parts, among which 10,000 are designated as “early supporters” and will be added to the pool for additional income. In the fourth step, at the block height 540,000, the remaining Litecoin will be sent to a designated wallet for use.

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