Recently, the Central Bank’s Business Management Department issued a red-headed document “Notice on Carrying out Self-inspection and Correction of Payment Services for Illegal Virtual Currency Transactionsâ€. It is reported that the "Notice" requires all legal person payment institutions within the jurisdiction to conduct self-inspection and rectification work in their own units and branches since the date of publication of the documents. It is strictly forbidden to provide services for virtual currency transactions and take effective measures to prevent payment channels from being used for virtual currency. transaction. All units shall report the self-inspection and measures taken to the Business Management Department on January 20. In addition, the Notice also requires all units to strengthen daily transaction monitoring. For the discovered virtual currency transactions, the payment channels of the relevant transaction entities should be closed in a timely manner, and the funds to be settled should be properly handled to avoid group incidents. At the same time, following the slight easing of the virtual currency market yesterday, it fell again across the board today. In the past, domestic regulation had a vague attitude towards blockchains and virtual currency, and even before these concepts got fired, regulation did not involve too much. Until September last year, the central bank and other seven ministries banned ICO and will be characterized as speculative and illegal financing. Subsequently, the remediation team interviewed digital currency trading websites such as Firecoin and OKCoin, and each of them also closed the RMB trading channel, but the French currency transaction was still not restricted. Perhaps it is precisely because of this ban that leaves room for devastating blows. The various types of virtual currency led by Bitcoin continued to rise after the plunge, and Bitcoin rose to a maximum of nearly $20,000. However, the virtual currency market once again ushered in a regulatory storm after a period of self-regulation. Just after New Year's Day, there is news that the central bank held a closed-door meeting to shut down the Bitcoin mine for a limited time. Although it was eventually rumored, the regulatory authorities are indeed considering gradually limiting the development of the mine by limiting electricity and canceling electricity concessions. It is reported that limiting mines mainly considers resource waste and potential financial risks. Litecoin (LTC) is a cryptocurrency created as a fork of Bitcoin in 2011. It uses a hashing algorithm called Scrypt that requires specifically designed mining software and hardware. It is minable, and continues to rank in the top cryptocurrencies for value and trading volume. Ltc Asic Miner,Antminer L3 Plus Plus,Bitmain Antminer L3 Plus,Bitmain L3 Plus Shenzhen YLHM Technology Co., Ltd. , https://www.hkcryptominer.com
Litecoin mining is the process of validating transactions in the blockchain, closing the block, and opening a new one. Litecoin uses the proof-of-work consensus mechanism, which uses computational power to solve the nonce, which is part of the hash, that secures the block. The hash is the alphanumeric sequence of numbers that is encrypted by the hashing algorithm. When the nonce is solved, Litecoin is rewarded.
Litecoin mining became popular in 2011 when Charlie Lee, a software engineer at Google, announced its creation as a Bitcoin fork with modifications intended to help it scale more effectively.
Just like Bitcoin, it can be mined on computers using central processing units and graphics processing units. However, it isn't as profitable or competitive as purchasing an application-specific integrated circuit (ASIC) and joining a mining pool.