Litecoin vs bitcoin comparison charts
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To introduce healthcare or biomedical blockchain applications and their underlying blockchain platforms, compare popular blockchain platforms using a systematic review method, and provide a reference for selection of a suitable blockchain platform given requirements and technical features that are common in healthcare and biomedical research applications. Healthcare or clinical informatics researchers and software engineers who would like to learn about the important technical features of different blockchain platforms to design and implement blockchain-based health informatics applications.
Covered topics include 1 a brief introduction to healthcare or biomedical blockchain applications and the benefits to adopt blockchain; 2 a description of key features of underlying blockchain platforms in healthcare applications; 3 development of a method for systematic review of technology, based on the PRISMA Preferred Reporting Items for Systematic Reviews and Meta-Analyses statement, to investigate blockchain platforms for healthcare and medicine applications; 4 a review of 21 healthcare-related technical features of 10 popular blockchain platforms; and 5 a discussion of findings and limitations of the review.
Blockchain is a distributed ledger—write once and never erase. Although originally invented for financial transactions, 1 its applications are broad. This characteristic is especially attractive for applications in which users prefer not to rely on a single central authority eg, federated clinical data networks for quality improvement, health insurance operations, cross-institutional consent management without the need for a coordinating center and in which users want to verify the use of their assets.
Another advantage is the recording of data provenance, which can be vital in applications such as clinical decision support and surveillance systems. This is possible because of blockchain creates an immutable audit trail that permanently records transactions, so that critical records eg, protected patient information access log are always available for all in the network to inspect.
Our published tutorial on blockchain 2 summarizes some key blockchain benefits that are important for health sciences and can serve as a first introduction for readers who are completely unfamiliar with the technology. Healthcare and research examples of immutable recording of transactions. Note that in both examples the actual patient data are stored off-chain and only the access records eg, requests for and receipts of records are stored on-chain as transactions in blocks.
The basic blockchain technology components that support healthcare applications have been introduced in several recent studies, 1 , 2 , 25 including the use of hash-chain timestamping and consensus protocols such as Proof of Work PoW.
To solve the scalability issue ie, the size of the whole blockchain grows proportionally to the number of transactions , there are 3 techniques: 1 Merkle tree 26—28 Figure 2 , lightweight nodes Figure 3 , and unspent transaction output Figure 4. Technical details on how to use the metadata of transactions to store data records and using smart contracts to manage digital assets on a blockchain are explained in Supplementary Appendix S2 2—4 , 30—35 and Supplementary Appendix S1, 25 , 36 respectively.
This way we can prune the transactions in the tree later, without changing the Merkle Root and the block header. In other words, the size of the blockchain is now proportional to the number of blocks instead of being proportional to the number of transactions. A An example blockchain without a Merkle tree. The blocks enclose transactions without adopting a Merkle tree.
As a result, the size of a block will grow proportionally to the number of transactions eg, transaction T 12 that are enclosed. B A blockchain with a Merkle tree. A Merkle tree is constructed by hashing paired data the leaves to create a parent node iteratively, until a single hash, the Merkle Root, 1 remains.
In this example, the transactions eg, T 12 are first encoded into a binary raw-transaction format and then hashed to create the hashes eg, Hash of T Then, hashes such as the Hash of T 12 are paired with other hashes such as the Hash of T 11 if a hash does not have a pair, it simply duplicates itself to be paired to compute the hash as their parent node ie, Hash of T 11— To enclose this new Merkle Root to pass the verification process, the attacker then needs to re-create block B 1 and all blocks thereafter, which is computationally expensive and is enough to prevent such modification.
Another technique to reduce the need for each user to keep the full history of transactions is to use lightweight nodes together with a Merkle tree. Therefore, a user can adopt lightweight nodes 1 so that only the Merkle Branch 1 that links the transactions that the user would like to verify is used. An example of the Merkle Branch for transaction T 12 stored on a blockchain lightweight node eg, on a mobile device , in contrast to the data storage of a full node eg, on a personal computer , is shown in this figure.
With the use of the Merkle tree, a lightweight node only stores data relevant to specific transactions eg, T 12 to save space. Eventually, one can compute the value of the Merkle Root Hash of T 11—18 , and compare it with the one stored in B 1 , to make sure T 12 has been verified in B 1. This way, a lot of required storage space for those lightweight nodes is saved, making applications such as wallet apps on mobile devices feasible.
This verifying process is also known as Simplified Payment Verification. The ability of coin splitting and combining can further reduce the number of transactions and thus lower the burden of a blockchain network. To do this, intuitively one can just allow multiple inputs and multiple outputs. In this example, Alice has 10 coins, which constitute the output of previous transactions. After this transaction, the 3 coins UTXO are recorded in each full node.
If Alice then tries to spend the original 10 coins instead of the 3 coins, each full node can detect such behavior by checking the UTXO list and reject the transaction accordingly. This way, UTXO helps identify double-spending. That is, each full node maintains a list of UTXO , and compares the input of new transactions against this list.
If an input is not in the list, the transaction is considered double-spending and will be invalidated. There are several divisions of a Byzantine army camping outside an enemy city, and each division has its own commanding general who would like to, with other generals, reach consensus on the time to attack the city.
That is, each general could make a decision about when to attack the city, but to be successful the majority of generals have to come up with an agreement about the attack time. However, the generals can only communicate with each other via messengers, and such communication form is nonsynchronized eg, if 2 generals announce 2 different preferred times within a very close time frame, some generals may receive one time and other generals may receive another time.
In this scenario, it is very difficult for the majority of generals to find a consensus time and execute a successful attack. Since the verification of PoW is relatively simple ie, fast , other generals can verify the PoW easily. They pause their work because they would only be allowed to add their time after the one proposed by G 3. After confirming the PoW is valid, every other general agrees with G 3 that the attack will be at 1 pm.
C The process to reach consensus among generals. After the first block B 1 with the time 1 pm is added to the blockchain, all generals restart PoW based on the hash of B 1 to find the second block B 2. One important protocol is that all generals will do PoW based on the longest chain, which ensures the consensus. Finally, after the blockchain is long enough, every general will be confident that the consensus attack time 1 pm has been agreed by the majority of generals.
This is because many generals have been working on the longest chain, thus the probability of a successful consensus of attack time is now high enough to solve the distributed agreement problem. To initiate the design and building of a real-world healthcare blockchain project, one of the critical steps is to select the most suitable underlying blockchain platform. The 3 main platforms are the following. MedRec 37 , 38 and Patientory 39 , 40 propose the use of a blockchain based on the Ethereum platform 25 for patient-managed health information exchange applications.
Nebula Genomics proposes to share and analyze genomic data on an Ethereum-based blockchain platform. An oncology clinical data sharing framework 10 for patient care proposes to adopt the Hyperledger platform. A working group was formed by Hyperledger to cultivate technical or business collaborations for healthcare blockchain applications.
ModelChain 29 was used to accelerate research and facilitate quality improvement initiatives by supporting decentralized cross-institutional predictive modeling. The use of blockchain in ModelChain makes it possible for different institutions to improve predictive power by contributing data to a jointly developed model without transmitting data or the model to a central location. The first implementation of ModelChain used a permissioned blockchain MultiChain, 31 and was applied for predictive analytics in anesthesia.
These examples constitute early work in this area and attempt to show the feasibility of adopting popular, open-source blockchain platforms for health or medicine. There are also some health-related blockchain applications that do not explicitly reveal their underlying platforms, such as Luna DNA, 48 a proposed genomic and medical research database with similar goals as those of Nebula Genomics.
However, it is more cost effective, time efficient, and sustainable to adopt an off-the-shelf blockchain platform in the early design and development stages, to ensure feasibility and demonstrate an operational system before large investments are made in recreating existing platforms. Choosing a proper off-the-shelve blockchain platform for a specific healthcare or clinical application may be challenging, because there is a wide range of technical features that are critical for its adoption in healthcare projects.
For example, there are concerns that adopting blockchain would consume too much energy, unnecessarily. PoW, used in Bitcoin, consumes a lot of energy, but other consensus protocols do not. Other concerns involve the openness of a blockchain network eg, public or private , ability to modify the code and distribute it eg, licenses , and need for specific hardware eg, SGX-enabled processors. There are many choices of blockchain platform available today, such as Ethereum, Hyperledger, and MultiChain, mentioned previously.
A blockchain platforms should be general ie, not limited to financial applications and popular ie, technically mature and with ample community support to ensure future maintenance. Although some platforms may not have been adopted in the healthcare domain so far, they might be considered in the future because of desirable technical features eg, support for an energy-efficient consensus protocol.
To address the difficulties of blockchain platform selection for healthcare or clinical applications, a systematic comparison of these platforms in terms of their technical features is critical.
Although there are broad reviews of blockchain platforms, 51 , 52 of blockchain research frameworks, 53 and systematic reviews of blockchain technology articles, 4 a systematic comparison of blockchain platforms that are relevant for healthcare is still lacking. Such systematic comparison can serve as a practical reference for healthcare blockchain researchers and application designers to choose the appropriate platform for their specific use case eg, public health, administration, clinical care , especially, as mentioned previously, in the setting of healthcare or research institutions that prefer not to cede control to a central authority but want to work together.
The objective of this study is to compare the most popular blockchain platforms using a systematic method, considering the technical features that are relevant to healthcare applications, and to provide a reference for selection of suitable blockchain platforms for specific requirements encountered in healthcare and biomedicine. We only included 3 phases ie, identification, screening, and included , because the eligibility criteria were integrated into the search strategy ie, the PRISMA eligibility phase is integrated into the identification phase.
General purpose blockchain platforms were included. We excluded cryptocurrencies that could not serve as a general-purpose ledger, as they are less important for biomedical informatics applications. This way, the results of the systematic comparison could be utilized in healthcare or clinical application areas such as population health, biomedical and health services research, and healthcare administration. We utilized Google. No major blockchain technology has emerged as of November We used the phrase blockchain platforms as the initial search term in Google.
We then collected all the blockchain platforms names found in these webpages into a candidate list see the identification phase in Figure 6.
To select the platforms names from the candidate list, we first removed all the duplicated blockchain platforms. Thus, using just the Google Count of platform names might unfairly bias the results in favor of more general names. To mitigate the bias introduced by common names, our strategy was to first determine whether a platform name was a dictionary word or not, using the following 2 online dictionary websites: Dictionary.
The reason for the manual review instead of just picking the top 10 ranked platforms was to compensate for the limitations of our dictionary word strategy. For example, although the blockchain platform name NXT is not a dictionary word, it is also a division of World Wrestling Entertainment and thus is very popular ie, high Google Count. The manual review considered these types of exceptions to choose the most well-known and highly popular blockchain platforms.
For the 10 blockchain platforms see the included phase in Figure 6 , we developed a data sheet to extract the data items ie, technical features, defined in Table 1 , and pilot-tested it on 2 most well-known blockchain platforms: Bitcoin and Ethereum. Two authors T-TK and HZR extracted the data items from included platforms, mainly from the official published whitepapers and official websites, as well as from the other online resources searched using Google.
These authors then had discussions to resolve the disagreements. If an agreement was not reachable, the third author LO-M was involved in the discussion and made the final decision. After confirming the data items in the pilot test, we extracted those data items for each of the selected 10 blockchain platforms.
The search using blockchain platforms on Google. After manually checking the top 30 returned webpages, we identified the following 4 webpages that discussed more than 1 blockchain platform: Medium, 62 RadioStud, 63 CoinFabrick, 51 and Mastek. There were 35 platforms after removal of duplicates. The process is shown in Figure 6 , while the resulting 10 platforms are described in Table 2. In this subsection, we discuss the details of the 10 blockchain platforms selected for our systematic review, following the order of the popularity score shown in Table 2.
Bitcoin, the first well-known and widely used distributed cryptocurrency, operates a peer-to-peer network without central authority or banks, and introduced the blockchain technology and platform to the world.
Comparing Bitcoin, Ethereum, and Other Cryptos
And while people like Jamie Dimon of J. Morgan and famed value investor Howard Marks have been extremely critical of cryptocurrencies as of late, many other investors are continuing to ride the wave. For this reason, we worked with social trading network eToro to come up with an infographic that breaks down the major differences between these coins all in one place. Bitcoin is the original cryptocurrency, and was released as open-source software in No central authority or server verifies transactions, and instead the legitimacy of a payment is determined by the decentralized network itself. Bottom Line: Bitcoin is the original cryptocurrency with the most liquidity and significant network effects. It also has brand name recognition around the world, with an eight-year track record.
What Is Litecoin?
Bitcoin vs Litecoin… Bitcoin has long been the dominant name in the cryptocurrency world, and it has been hard for other cryptos to stand out. So, if you are wondering which to buy, Bitcoin vs Litecoin, or which is better, read this article for a comparison of the similarities and differences in , and their respective benefits. Bitcoin was first announced in by a person or group using the pseudonym Satoshi Nakamoto. The first block was mined on January 3rd, , starting the course of blockchain Bitcoin mining as we know it today. But it was not until that Bitcoin truly boomed, resulting in huge profits for anyone who had made early investments in the token. Bitcoin is a decentralized, digital currency — i. The blockchain stores information in blocks which are then mined, verifying each transaction and ensuring the same Bitcoin cannot be sent twice.
Difference Between Bitcoin and Litecoin
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Bitcoin Cash
The past decade has seen cryptocurrencies rise from relatively unknown fringe currencies to headline-hitting digital assets capable of shaking up the financial industry. These currencies have recently become one of the most valuable assets on the planet , and experts predict that coming years could continue to see their usage surge. One of the key problems of cryptocurrencies lies in the environmental impact that digital transactions have. The process of mining for bitcoin is particularly energy-intensive, due to the complex mathematical calculations that must be completed to create each and every new bitcoin. Consider this on a global scale, and you might be surprised to hear that the amount of power needed to deal in cryptocurrencies is similar to that of a small country. With concern over the environmental impact of cryptocurrencies growing, increasing numbers of investors are looking for new ways to enjoy the benefits of digital currencies in more eco-friendly ways.
Litecoin Price
To introduce healthcare or biomedical blockchain applications and their underlying blockchain platforms, compare popular blockchain platforms using a systematic review method, and provide a reference for selection of a suitable blockchain platform given requirements and technical features that are common in healthcare and biomedical research applications. Healthcare or clinical informatics researchers and software engineers who would like to learn about the important technical features of different blockchain platforms to design and implement blockchain-based health informatics applications. Covered topics include 1 a brief introduction to healthcare or biomedical blockchain applications and the benefits to adopt blockchain; 2 a description of key features of underlying blockchain platforms in healthcare applications; 3 development of a method for systematic review of technology, based on the PRISMA Preferred Reporting Items for Systematic Reviews and Meta-Analyses statement, to investigate blockchain platforms for healthcare and medicine applications; 4 a review of 21 healthcare-related technical features of 10 popular blockchain platforms; and 5 a discussion of findings and limitations of the review. Blockchain is a distributed ledger—write once and never erase. Although originally invented for financial transactions, 1 its applications are broad. This characteristic is especially attractive for applications in which users prefer not to rely on a single central authority eg, federated clinical data networks for quality improvement, health insurance operations, cross-institutional consent management without the need for a coordinating center and in which users want to verify the use of their assets. Another advantage is the recording of data provenance, which can be vital in applications such as clinical decision support and surveillance systems. This is possible because of blockchain creates an immutable audit trail that permanently records transactions, so that critical records eg, protected patient information access log are always available for all in the network to inspect.
Litecoin vs Ethereum: What's the Difference?
While BCH and LTC are among the leading and most popular cryptocurrencies today, which of them is a better investment? What is the difference between them? Which is expected to grow faster? These are some of the questions a lot of people ask about these cryptocurrencies, hence, this Bitcoin Cash vs Litecoin comparison guide.
Bitcoin vs. Litecoin: What's the Difference?
Nim crypto price. Raptoreum's market price has increased 3. We will pull current coin information from Coingecko and use Python for the purpose. M0: The total of all physical currency, plus accounts at the central bank which can be exchanged for physical currency. Kolkata: Private sector lender Federal Bank reported a 29 per cent rise in net profit Nimiq price today, NIM marketcap, chart, and info.
Litecoin in its early years frequently ranked as the second-largest cryptocurrency. Its similarity to Bitcoin makes Litecoin popular among those looking for an affordable Bitcoin alternative. If you're considering an investment in Litecoin, keep reading to learn everything you need to know. Litecoin is a digital currency that is decentralized, meaning that it functions without relying on any centralized financial institution. Litecoin uses blockchain technology to process and record transactions, with batches of transactions continually adding more blocks of information to the Litecoin blockchain. Litecoin miners use immense computing power to solve complex mathematical problems and earn the right to verify transactions, which adds new blocks to the blockchain. Litecoin miners are compensated in Litecoin.
Over the past several years, public interest in cryptocurrencies has fluctuated dramatically. It has garnered attention from investors, whose interest in cryptocurrency has surged as it has aged. The main focus of this interest has been Bitcoin, which has become synonymous with creating cryptocurrency millionaires and increasing people's digital wealth. Since Bitcoin was founded, hundreds of other cryptocurrencies have been forked from it or been created.
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