Litecoin Hardfork Represented

Expected LitecoinCash fork time: 22:51:00, Sun 18 February 2018 (UTC)
09 February 2018   584

Hardfork mania is gaining momentum. Now Litecoin became the "victim" of planned hardfork. 


What is LitecoinCash?

LitecoinCash is upcoming SHA256 Litecoin fork. New coin will have LCC ticker. According to the developers, these are the main features of upcoming coin:

  • New Coins for Old Miners
    • Put your legacy Bitcoin SHA256 mining hardware to effective use.
  • Rewarding the Community
    • For every 1 LTC you hold at block 1371111, you can claim 10 LCC.
  • Simple to Claim
    • Our wallet makes it easy to claim your LCC. No debug console!
  • Responsible Forking
    • Replay attack protection & new address prefix to prevent confusion and inter-chain issues.
  • Fair Launch
    • Slow-start control, pre-release of bootstrap, & improved retargeting to ensure a smooth launch.
  • Modern Codebase
    • Close to upstream, to allow us to incorporate all latest blockchain tech. Segwit? Yep, we got that.

According to the website, the Litecoincash hardfork was "founded" in December 2017. Also, wallets for main platforms will be released in March. 

As mentioned above, one of the interested feature of new coin will be 10:1 claim ration instead of traditional 1:1 ration.

Сomparison Table
Сomparison Table

This is how developers answer the main question for every hardfork: why?

There is no fast, cheap SHA256 coin with good difficulty adjustment. SHA256 miners have little practical choice of hashpower destination, and if they do mine blocks they're being paid in a currency with 10 minute block times.

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 was a perfect means of intial distribution for our coin.

LitecoinCash Team

LitecoinCash Team

There is no much info on LitecoinCash team. No LinkedIn, Facebook or other links, just 3 photos, names and 1 unicorn.

LitecoinCash Team
LitecoinCash Team

Team also has active Twitter account. We were able to find "the official reason why you should join". 

GitHub of the new fork is not very active. It was created on 26th of January. There are also no info on the exchanges, that are going to list LCC. But developers "hope that exchanges will support" them.

European Crypto Exchanges Launch P2P Platforms

Two crypto exchanges from announced plans to offer peer-to-peer cryptocurrency trading  
16 February 2018   121

The first exchange is Latvia-based Hodlhodl which launched in beta-mode its new P2P platform. The second one is Bulgarian which is developing its own service that may replace the fiat medium with a token.

The Hodlhodl launched a beta version of its new platform designed to accommodate safe and secure peer-to-peer transactions of bitcoin and other cryptocurrencies. At the moment, users can open accounts and adjust them, and study available functionalities. Contracts are currently disabled but developers hope to complete the order book and launch them within a week.

At first, only BTC and LTC will be traded. The exchange will operate in beta-mode until July 2018 with 0% commission. After that, there will be applied a fee of max 0.6% per trade.
The P2P Bitcoin exchange will introduce contracts that will allow users to control their funds in escrow.

Hodlhodl offers support of native Bech32 Segwit addresses and P2SH-P2WSH Segwit multisig escrow addresses. The exchange services will be decentralized and no KYC or AML procedures will be applied.

The websites are available in English, in future other languages will be added. Also, it will introduce support for Lightning Network micropayments and other cryptocurrencies.

Bulgarian has also announced that it is working on a P2P platform, after facing multiple issues with the traditional financial system.

This month the exchange announced that it is planning to trade Bitcoin on a new peer-to-peer platform that is currently under development.

The new system will offer the opportunity to trade through Cryptolevs backed by a certain amount of bitcoin “locked” in a public address. Bank transfers will be made on a peer-to-peer basis and banks will not be able to tell if such transactions are bitcoin-related.