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Et tu, Litecoin? Hard fork should lead to Litecoin cash (LCC) have


on February 18, more specifically with block 137.111, it should come to a chain split by Litecoin. The emerging Kryptowährung to cash (LCC) are called Litecoin and support SHA256- mining . However, Charlie Lee and other critics see a scam in the secession of Litecoin. 

After Bitcoin forking Volkssport has turned slowly to a and also Ethereum has two hard forks resulting in new Kryptowährungen, Litecoin’s now turn: on 3 February was bitcointalk on announced that there is to be an hard fork, resulting in the name Litecoin cash or short LCC stops.

Three differences should be established to Litecoin: firstly to tenfold the maximum supply so that it can gemint a total of 840 million coins. On the other hand algorithm is to be used with regard to the mining SHA256 instead of Scrypt. Also the mining difficulty via the dark-gravity-wave is continuously adapted algorithm, which should significantly better affect the profitability of mining.

Whether these changes will convince the community, remains to be seen: Charlie Lee even warns of hard fork and speaks of a scam . Fairness is however to emphasize that the people behind Litecoin not, as Charlie Lee suggests, require entering a private key on any Web sites cash users, but rather quite detailed a safe route to the claim of Litecoin cash [] describe . Somewhat surprising, however, is that the people behind the project publish not their full name, more transparency would incite here much more confidence. Even in a interview will sustain this masquerade.

So or so arises the question whether there is a comprehensible reason for this hard fork. According to the people behind Litecoin cash is the main motivation, that there are so few SHA256 coins, which would be profitable for the small miner. The SHA256-focused mining hardware that was originally used by private Bitcoin Minern to awaken to new life. The future will show whether this justification for a new coin is sufficient and whether the mining of Litecoin cash is really profitable.

Of course, there are not few, now that, as was in the case of the various Bitcoin of forks, here for “Free Money”. It is each even left whether he in fact his Litecoin cash claimen want. The Litecoin funds must be stored in a wallet, which is in the possession of the private key. Accordingly, you should not simply leave Litecoin on an Exchange and hope that it decides to distribute that each individual Litecoin-holder of to Litecoin cash funds. The team behind Litecoin cash still proposes to temporarily transfer, different private keys for Litecoin and Litecoin the funds on a wallet, that is not the Hauptwallet, to have cash.

Everyone is free to do so. The classic Hodler, who are his Litecoin, for example, on a hardware wallet, but simply cannot wait. It is so or so thanks to the possession of the private key at some point his claims – exercise so there is no reason to rush, which, where appropriate, on a scam in one drop.


about Dr. Philipp Giese

 Dr. Philipp Giese works as an analyst for BTC-ECHO Dr. Philipp Giese and is specialized in the areas of chart analysis and technology. Also he actively engaged in the crypto community – online as a central point of contact in the slack BTC-ECHO channel, as well as offline as a speaker and interviewer he always maintains the Exchange with startups, developers and visionaries. The PhD physicist can draw on many years of experience as a project manager and technology consultant. Philipp delights here not only for the technological dimension of Kryptowährungen, but also for the underlying socio-economic vision for many years.

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