13 Dec 2017 Bitcoin, Litecoin, Ethereum. The big players in the Here's the Differences Between Bitcoin, Litecoin and Ethereum. The world of Bitcoin uses the SHA-256 algorithm to “mine” new coins, leading to giant setups that use tons of specially designed mining hardware to crank out more coins. Litecoin, on the 

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Ethereum's shorter block time is the beneficiary of blockchain research done after the launch of Bitcoin, which showed that shorter block times were not only technically feasible, To compensate for this, the miners who find blocks that are valid, but nonetheless not the winning block, are paid a reduced fee as consolation.

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