LiteCoin: A fairer BitCoin.

LiteCoin: A fairer BitCoin.

It’s still energy-into-money, but this crypto-currency lends itself to more thinking about proof-of-work. The proof-of-work (PoW) here with LiteCoin is based on sCrypt, which cannot be easily accelerated with farms of video-card GPUs.  You can still make farms upon farms of ordinary CPU-based computers, but at least the difficulty is low enough that there will be more liquidity to the currency.

I’ll have more thoughts later on proof-of-work and alternative currencies.

One thought on “LiteCoin: A fairer BitCoin.

  1. Pingback: BitCoin: a rube-goldberg machine for buying electricity « ξ: Time as Money.

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