After it was reported last year, to 18 Bitcoin Hardsforks, there should be a Hardfork from Litecoin. As always, the new Coin should be better than the Original, and the crypto market revolutionize. The digital currency will bear the name of Litecoin Cash, probably based on the name of Bitcoin Cash, the previously successful Hard Fork of Bitcoin Core.
After recently ether zero of Ethereum has been cleaved, it is true now Litecoin with a Hard Fork. The Hard Fork will take place at block number 1.371.111 on 18.02.2018 against at 22:53 (UTC). Each Litecoin-owner should be able to in the ratio of 1:10 Litecoin Cash claim. Since the Token Supply is ten times that of Litecoin Supplies, get Litecoin owner is also ten times that amount in Litecoin Cash. The Ticker symbol for Litecoin Cash is going to be LCC.
Why Litecoin For Cash?
The official website of Litecoin Cash shows the differences to the Original, clearly in a table:
The largest differences in the cost of lower transaction, higher speed, and the conversion of the Mining algorithm are SHA256 (as in Bitcoin).
From our point of view, but these are all very vague statements, the Litecoin deliver no real value.
Bitcoin Cash, as so far the most successful Hard Fork of Bitcoin Core, for example, was a protest against the Bitcoin core municipality, and the block sizes had an Argument. And Litecoin For Cash? Litecoin has so far had cost to never have problems with his transaction and confirmation times. The mere Amendment of the Mining algorithm is not an improvement. The Difficulty Adjustment is also not necessary.
Especially abstruse is the justification for us on the official website:
We believe we can offer an excellent SHA256 coin for general usage. We love Litecoin, and wanted to give something to the brave hodler community. With everyone else too busy forking Bitcoin, we decided that the Litecoin blockchain what a perfect means of intial distribution for our coin.
From our point of view, Litecoin, Cash seems to have not been created to solve a specific Problem.
Litecoin Cash Scam?
Charlie Lee, founder of Litecoin, has a clear opinion on this. On Twitter he said that there will be no serious Hard Forks of Litecoin. Each new Coin, caused by a Hard Fork of Litecoin, is to be regarded as a SCAM. Neither he nor the Litecoin Team are involved in this Fork:
The development team behind Litecoin Cash makes a trustworthy impression. The Team of four team members. These are, however, presented only a first name or nickname. More links to Social Media profiles. Thus, it is not clear who is actually behind it.
In addition, there are no really significant improvement in comparison to Litecoin. In comparison to the orignalen Litecoin there are no serious cases or even benefits. The Litecoin Hard Fork is to be regarded, in our opinion, clearly as a SCAM, taking into account the points listed.
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