Litecoin Cash’s value proposition is unquestionably intriguing. One of the biggest advantages of cryptocurrencies is that it allows new ideas to be built on top of old ones. As more forks emerge, they will have to innovate in order to provide real-world benefits to potential coin holders.
About Litecoin Cash
Litecoin Cash (LCC) is a fork of Litecoin with a higher maximum supply, SHA256 mining, and better difficulty adjustment.
In terms of bitcoin forks, 2017 was a banner year. In 2017, there were probably more forks in cryptocurrency than there are in a department store’s cutlery inventory. Initial Fork Offerings, or IFOs, are the new buzzwords in the cryptocurrency world. The Litecoin Cash team looks to be attempting to ‘cash in’ on this new method of generating funding. Litecoin Cash is a fork or breakaway from the original Litecoin project, as it is most popularly known.
The Litecoin blockchain was forked at block 1371111, resulting in Litecoin Cash. One of the main advantages of forking from an existing coin, according to the developers, is that additional coins are distributed evenly. Because Litecoin is a well-known cryptocurrency, its designers cannot be accused of hoarding coins because additional coins are handed to existing Litecoin holders at the time of the bifurcation.
What is Litecoin Cash [LCC]?
The cryptocurrency Litecoin Cash (LCC) is a fork of Litecoin Coin. Users can generate LCC by mining with SHA256 or Hive Mining, an agent-based mining system that requires no specialist hardware and can be run on anything from a Raspberry Pi to a regular desktop PC. Existing SHA256 mining pools and miners are unaffected. Because the network accepts proof-of-work blocks at any moment, SHA256 mining gear is never idle. Network attacks are rendered ineffectual in 51% of cases. Because worker bees will not mint blocks on an attacker’s private chain, they will not be able to amass enough chain work to launch a 51 percent hashpower attack. Any LCC holder can become a beekeeper, democratizing the mining process.
Who Are the Founders of Litecoin Cash [LCC]?
Unfortunately, we couldn’t locate any information on the core or associate teams on LinkedIn. Using a network like LinkedIn to provide further background material to the public would help the LCC project gain legitimacy. For the time being, we’ll share some information based on their website.
Iain Craig (Tanner), the project’s primary developer, has 20 years of commercial expertise. Tanner has been involved in the crypto community since 2013, developing a number of altcoins and blockchain-based businesses.
Roger is the name of the unicorn you see below. Roger, who works in public relations, has participated in a number of YouTube videos to address community concerns. Roger is a project manager with extensive experience working for a big online foreign exchange company. He’s been a part of it for over 5 years.
What Makes Litecoin Cash Unique?
Some Key benefits of Litecoin Cash are as follows:
- 10:1 Claim Ratio: You can claim 10 LCC for every 1 LTC you hold at the fork block.
- SHA256 Proof-of-Work Hashes: Litecoin Cash switched to SHA256 proof-of-work hashes after the fork block. This gives previously outmoded Bitcoin mining hardware a new lease of life.
- Network Resilience: Every block, the mining difficulty is reset using Evan Duffield’s Dash-proven DarkGravity V3 method. This ensures more consistent block timings and protects the network from multipool hopping.
- Designed for Use in the Real World: With a target block time of 2.5 minutes, the transaction bandwidth is four times that of Bitcoin, and transactions are 90% cheaper than Litecoin.
- Block rewards will start at 0.25 LCC and increase to 250 LCC during the first 2000 blocks after the fork to avoid dominating early miners from gaining an unfair advantage. After the bifurcation, the first 24 blocks will be mined at a low difficulty level. The difficulty will then be adjusted by DarkGravity based on the observed block creation time. At the same chain heights as Litecoin, the 250 LCC block reward (equivalent to 25 LTC) will be halved.
- Small Premine: At fork time, an amount comparable to less than 1% of the circulating money supply (less than 0.65% of total money supply) was paid to a development fund.
Where Can You Buy Litecoin Cash [LCC]?
If you’re looking for a place to purchase Litecoin Cash, the best cryptocurrency exchanges to use right now areHitBTC, YoBit, Mercatox, STEX, and SouthXchange.
Frequently Asked Questions
Can I Buy Litecoin Cash [LCC] With Cash?
No. There is no direct method to purchase LCC using cash. You can, however, utilize markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.
Are there any quick ways to buy Litecoin Cash [LCC] in Europe?
Yes, in reality, Europe is one of the easiest countries to acquire cryptocurrency in general. There are also online banks where you can create an account and send funds to exchanges like Coinbase and Uphold.
On what factors does the price of the Litecoin Cash [LCC] Depend?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact ZI price and market cap.
Litecoin Cash Official website- https://litecoinca.sh/
Litecoin Cash Twitter –https://twitter.com/LitecoinCash
Litecoin Cash Reddit- https://reddit.com/r/LCCofficial