What is Litecoin Cash? Litecoin Cash (LCC) is a Litecoin fork with better miner difficulty, adopting the SHA256 mining algorithm. In this article, as Kriptokoin.com, we have answered the curious questions such as what is Litecoin Cash, what it offers, what is LCC, what is it for, how to get it. Let’s examine together this Blockchain, which was formed with a hard fork in Litecoin in 2017.
What is Litecoin Cash?
A fork occurs when developers take a snapshot of existing code from a cryptocurrency. In other words, Blockchain turns into two different networks and cryptocurrencies with a fork. This does not result in a change or regression in the original network. However, the newly established network is different. This fork continues to evolve on its own after separation. Since they are already managed by developers with different ideologies, they become increasingly different from the original network.
Litecoin Cash (LCC) is one such network. It left the original Litecoin (LTC) network in 2017. This fork has a higher max supply than LTC in nature. It has also developed a different understanding from Litecoin on issues such as cryptocurrency mining. Accordingly, the mining algorithm of the network has switched from Litecoin’s Scrypt system to Bitcoin’s SHA256 algorithm. The team claims that this will create a kind of recycling of old Bitcoin mining hardware that can be used to secure the LCC network.
What does Litecoin Cash offer?
Litecoin Cash is built on the foundations of Litecoin. Therefore, in many respects it retains the characteristics of the original network. However, the main difference of LCC lies in its understanding of mining. The Litecoin network adopts the Scrypt mining algorithm. However, LCC works with the SHA256 algorithm. This allows users to mine much more efficiently. SHA256 offers a much better difficulty setting. The higher the hardware speed of miners, the higher the miner difficulty on the network. This allows the network to operate more stably.
Litecoin Cash adopts the Dark Gravity V3 difficulty setting pioneered by Dash. The network works quickly with block times of 2.5 minutes. However, the ecosystem provides 4x the transaction bandwidth of Bitcoin while operating at a much lower cost than Litecoin. Users pay a 90% lower gas fee than the original LTC network when they make a transaction within this network.
What is LCC? What does it do?
LLC is the cryptocurrency of the Litecoin Cash network. Users can use LLC like Litecoin. However, they can mine the LLC with the Proof-of-Work consensus mechanism. LLC mining is much more efficient than LTC mining. Thanks to the SHA256 algorithm, users can issue new tokens with the features mentioned above.
What is Litecoin Cash? How to get an LLC?
Litecoin Cash is listed on HitBTC, YoBit and Mercatox exchanges. Interested investors can buy cryptocurrency through these exchanges. For LLC, you need to pay attention to the trading pairs that are listed after you become a member of the stock market.