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.
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.
There is no much info on LitecoinCash team. No LinkedIn, Facebook or other links, just 3 photos, names and 1 unicorn.
Team also has active Twitter account. We were able to find "the official reason why you should join".
The #official reason why you should join our #litecoin #fork.#airdrop #cryptocurrency #crypto #btc $btc #ltc #lcc #eth@airdrop_online @serkanaltcoin @Litecoin__News @AllThingsLTC @Litecoin__News @cryptonewsday pic.twitter.com/Eu7J3OWYrq
— Litecoin Cash [ LCC ] (@LitecoinFork) January 31, 2018
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.