What Is Litecoin Cash (LCC)? [Fundamentals, Exchanges & Wallets]
Sudhir Khatwani
Enough of Bitcoin forking let's fork Litecoin now. So, you heard it loud and clear it is now the time of Litecoin fork and one such hard fork of Litecoin is already out there in the market. This fork of Litecoin is called Litecoin Cash (aka LCC). And if it is looking a joke to you then you might be interested in looking at this tweet with its link which says Litecoin Cash market it updated at CoinMarketCap. By now, I believe you must have verified what I am saying and now when this fork has become a reality why not look at its specific details. So I will cover these following important points about Litecoin Cash in this write-up:- - Why The Litecoin Cash Fork?
- When This Forked Happened?
- Team Behind The Fork?
- Litecoin Cash Specifications
Why The Litecoin Cash Fork? The motivation of this fork is that there is no fast, cheap SHA256 coin with good difficulty adjustment. SHA256 miners have little practical choice of hash power destination, and if they do mine blocks they're being paid in a currency with 10 minute block times. LCC team believes that they can offer an excellent SHA256 coin for general usage. They love Litecoin and wanted to give something to the brave holder community. With everyone else too busy forking Bitcoin, they decided that the Litecoin blockchain was a perfect means of initial distribution for their coin. Hence they decided to fork Litecoin. Must read: Do's and Dont's in the event of a hard fork (This is for Bitcoin but same logic applies to Litecoin fork as well) When This Forked Happened? The fork happened on 18th Feb 2018 at the Litecoin block height of 1371111, that why anyone holding Litecoin at block 1371111 will have 10X as much Litecoin Cash, provided they have their seed/private keys with them. Team Behind The Fork Here are details of the team members as per their official website:- 
There is a team of 4 behind this fork but they have only their initial names out on the website that's why it is difficult to do a real background check as of now. But so far no issues or scams have been reported and it has been more than 2 days since the fork happened. Litecoin Cash Specifications 
Below are the listed some of the unique specifications of this newly born Litecoin Cash coin: - 10:1 Claim Ratio – For every 1 LTC you held at the fork block, you can claim 10 LCC.
- SHA256 Mining – After the fork block, Litecoin Cash switched to SHA256 proof-of-work hashes. This enables a new use for previously obsolete Bitcoin mining hardware.
- Network Resilience – Mining difficulty is recalculated every block, using Evan Duffield's proven DarkGravity V3 algorithm from Dash. This provides more predictable block times as well as network protection from multipool hopping.
- Optimised for the Real World – Target block time of 2.5 minutes gives 4 times the transaction bandwidth of Bitcoin, while transactions are 90% cheaper than Litecoin.
- Slow-Start Control – To prevent dominant early miners having an unfair advantage, block rewards will start at 0.25 LCC and grow to 250 LCC over the first 2000 blocks after the fork. The first 24 blocks after the fork will be mined at minimum difficulty. After this, DarkGravity will adjust the difficulty based on observed block generation time. The 250 LCC block reward (equivalent to 25 LTC) will be halved at the same chain heights as Litecoin.
- Small Premine – An equivalent amount to less than 1% of circulating money supply (less than 0.65% of total money supply) at fork time was paid to a development fund.
Who Is Supporting This Fork [Litecoin Cash Exchanges & Wallets] Not many have actually come out in open to support this coin but whosoever has come out with the support can be trusted. Coinomi Wallet has declared that they will be supporting LCC fork soon in their mobile wallet app and the same thing they have mentioned in their tweet as well. Another well-known altcoin exchange, Yobit has also claimed that the trade of LCC is ON, on their exchange and same is evident from CMC markets too. Apart from these two, there are few other exchanges that are listed on LCC website and upon little digging up we could find that Mercatox, TradeStoshi including YoBit are actually supporting this fork.  Conclusion-Is It Legit?
Despite Charlie Lee the founder of Litecoin tweeting that this a fraudulent fork, I was unable to find anything very direct/indirect fishy with this project. Instead, LCC team was found tweeting opposite of it and looked like spreading awareness about the security of user's private keys. However, I acknowledge the fact that they are doing a bit of pre-mining which nowadays is always the case when you see such forks come out which is OK. Also, their reason for forking Litecoin is not strong enough I feel but irrespective of whatever I feel or say the market forces have welcomed this fork and it is trading at $5 per coin. So if you have 1 LTC at the time of fork that means now you also own 10 LCC which is worth $50 dollar in a bunch. And this is free money and free money is always good and you might just thank Litecoin & Litecoin Cash for funding your evening's coffee today, yeah, of course, provided you have claimed your LCC yet. So that's it from me for now and I will be back soon on CoinSutra with proper vetted ways to claim this Litecoin Cash. And we will also be publishing the list of exchanges & wallets supporting Litecoin Cash once the scenario becomes more clear. For now stay safe and keep your seed/private keys safely with you 🙂 Official Resources:- Here are a few hand-picked articles for you to read next: The post What Is Litecoin Cash (LCC)? [Fundamentals, Exchanges & Wallets] appeared first on CoinSutra - Bitcoin Community. | 
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