What is Litecoin Cash? What Does LCC Do?

What is Litecoin Cash? Litecoin Cash (LCC) is a Litecoin fork with higher miner difficulty, adopting the SHA256 mining algorithm. Koindeks.com In this article, we have answered the questions of 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 get a snapshot of the current code from a cryptocurrency. In other words, Blockchain turns into two different networks and cryptocurrencies with a fork. This does not lead to a change or regression in the original network. However, the newly established network is different. This fork continues to evolve on its own after the split. In fact, they differ more and more from the original network, as they are managed by developers with different ideologies.

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 by nature. In addition, it has developed a different understanding from Litecoin in matters such as cryptocurrency mining. Accordingly, the mining algorithm of the network has switched from Litecoin’s Scrypt system to Bitcoin’s SHA256 algorithm. The group argues that this will create some sort of recycling of old Bitcoin mining hardware that could 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 preserves 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. But LCC works with the SHA256 algorithm. This allows users to mine in a much more efficient form. SHA256 offers a much better difficulty setting. The higher the hardware speed of miners, the higher the miner difficulty in 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 in a fast form with block times of 2.5 minutes. However, the ecosystem provides 4 times the process bandwidth of Bitcoin while operating at a much lower cost than Litecoin. When users perform a transaction within this network, they pay a 90% lower gas price than the original LTC network.

What is LCC? What’s the use?

LLC is the cryptocurrency of the Litecoin Cash network. Users can use LLC for Litecoin. However, with the Proof-of-Work consensus mechanism, they can mine the LLC. LLC mining is much more efficient than LTC mining. Thanks to the SHA256 algorithm, users can issue new tokens in a form 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 purchase cryptocurrencies through these exchanges. For LLC, you need to pay attention to the process pairs that are listed after you become a member of the stock exchange.

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