Watch a basic introduction to Litecoin in this edition of the Cryptocurrency Spotlight series by Vacant Minds Media. Litecoin is a peer-to-peer cryptocurrency created by Charlie Lee. It was created based on the Bitcoin protocol, but differs in the choice of hashing algorithm used. Litecoin uses the memory intensive Scrypt proof of work mining algorithm. Scrypt allows consumer-grade hardware like graphics cards to mine Litecoins profitably. Litecoin was the first alt coin to alter Bitcoin, and one significant difference is that it takes approximately 2.5 minutes for Litecoin to generate a block, or transaction, in comparison to Bitcoin's 10 minutes. As a result, miners who use hardware to run Bitcoin's network cannot switch over to Litecoin. This keeps bigger mining conglomerates away from Litecoin because they cannot easily optimize their profits by swapping to another coin, contributing to a more decentralized experience. Litecoin also has bigger blocks, and more coins in circulation, making it more affordable and swift when transacting. Litecoin can transact a lot faster than Bitcoin, but there are also a number of other characteristics that make Litecoin different. Litecoin can handle higher volumes of transactions, and if Bitcoin attempted to transact on the scale of Litecoin, a code update would be needed. The faster block time of litecoin reduces the risk of double spending attacks. The Litecoin network is scheduled to cap at 84 million coins (LTC). Litecoin has inspired many other popular alternative currencies to use the Scrypt hashing algorithm in order to prevent ASIC miners from mining those coins Learn more about Litecoin at http://litecoin.org and follow @LTCFoundation on Twitter Learn more about other cryptocurrencies in the Cryptocurrency Spotlight series: https://www.youtube.com/playlist?list=PLKIehW5BR8xUJhnY9qFf_mG4_MMdS1CMf Music by Patrick Patrikios (https://www.youtube.com/channel/UCTPI2hZYxoHtdGEpdFoaU5A/) Brought to you by Vacant Minds Media: Media We Deserve. Visit Vacant Minds at https://vacantmindsmedia.com and follow @VacantMindsTwit on Twitter. ... https://www.youtube.com/watch?v=PaEtji60Fz8

Watch a basic introduction to ugChain in this edition of the Cryptocurrency Spotlight series by Vacant Minds Media. As an ecosystem consisting of a series of decentralized applications, the core of ugChain is a decentralized account system (DAS) based on blockchain technology. The system has built-in exclusive token UG Token (UGC), which simultaneously has the equity attribute and monetary attribute. DAS (Decentralized Account System) is based on Ethereum (The UG Token Contract), and consortium blockchain (Consortium Blockchain Smart Contract) and saves all information in the blockchain network, the globally equivalent blockchain node protect the security of the system. Learn more about ugChain at http://www.ugchain.com/ and follow @ugChain on Twitter Learn more about other cryptocurrencies in the Cryptocurrency Spotlight series: https://www.youtube.com/playlist?list=PLKIehW5BR8xUJhnY9qFf_mG4_MMdS1CMf Music by The Whole Other (https://www.youtube.com/channel/UCxfzyJ-HvEZbGmubAmfcsfQ) Brought to you by Vacant Minds Media: Media We Deserve. Visit Vacant Minds at https://vacantmindsmedia.com and follow @VacantMindsTwit on Twitter. ... https://www.youtube.com/watch?v=4kNViKiizf0