To better understand the hard-fork, let’s first look at the blockchain technology. A blockchain is a decentralized database that stores transactions in blocks. The blocks also contain a set or protocols which direct the way the blockchain network functions.

Due to the decentralized nature of the blockchain, any modifications made to transactions or instructions are communicated to all nodes to be approved. A hard fork must be created to make significant changes to a blockchain. This new blockchain will then need to be approved by all the nodes. When developing new projects, developers will choose blockchains on which a large number of nodes have agreed.

Hard forks are more common in all blockchains, even those beyond Bitcoin. Bitcoin, and all other cryptocurrencies, are supported by blockchain technology. Other crypto blockchains undergo hard forks, too, because they use the same blockchain as Bitcoin. If, for example, nodes or developers wish to make specific changes in the Blockchain, they can create a hard fork that contains all the updated rules. All nodes must accept the rules to implement the hard fork. Bitcoin Cash and Bitcoin Gold, two hard forks from Bitcoin, are examples.

Blake2b has some key features that make it different from other algorithms.

1. Collision Resistance
   The collision attack is possible with algorithms like MD5 or SHA. This occurs when two inputs produce the same output. The security of those algorithms is compromised because they can’t produce a hash that is unique for each input. Blake2b, on the other hand, is specifically designed to resist collisions and threats.

2. Security Strength
   Blake2b prevents cryptographic attacks such as collisions, preimages attacks, etc. The hash function ensures the highest level of security for your applications.

3. Highly Efficient
   Blake2b has been optimized to run on modern mining hardware, namely 64-bit platforms. It is therefore suitable for a wide range of applications in several domains.

4. Parallelism
   Blake2b was designed to take advantage of parallel processing. It is therefore ideal for devices such as multi-core processors or SIMD instructions (Single Instruction, Multiple Data).

5. Crypto Mining: Ideal for Crypto Mining
   Blake2b has become a very popular crypto mining algorithm after the rise of ASICs. ASIC miners can be programmed to precisely match the cryptocurrency’s mining algorithm.

Litecoin is a decentralized and open-source blockchain network that functions without intermediaries such as banks or financial institutions to validate transactions. Like Bitcoin transactions miners also validate Litecoin transaction and add them to distributed blockchain ledger. This ensures secure and transparent Litecoin transaction.

Litecoin mining uses advanced ASIC miners that are tuned specifically for Scrypt and have high computational power. They use these miners to solve complex algorithms problems and validate Litecoin transaction. The reward for miners who are the first to solve a problem and add a block to the network is freshly mined Litecoins.

As we all know, Litecoin has many similarities to Bitcoin’s blockchain network. Although Litecoin uses the same PoW mechanism as Bitcoin, their mining algorithms are different. Bitcoin, for example, uses the SHA-256 and Litecoin, the Scrypt algorithms.

Litecoin is a cryptocurrency that works like Bitcoin, but with many improvements, such as faster transactions and wallet encryption.