BLOCKONOMIST
Read News

Read News For Me

LCC is up by more than 600%. Should we start talking about Litecoin Cash?

Litecoin Cash is crypto forked from the Litecoin Blockchain, having the trading symbol LCC. It aims to be a payment system with low fees of the transaction so that people can easily send money across the world. The current market price of Litecoin Cash (LCC) is $0.0772, and it has increased by more than 87% within a day. Even being at #566 in terms of market capitalization, it managed to rise by 605.19% within a week.

Litecoin Cash is often considered more relatable to Bitcoin compared to Litecoin. LCC runs with the SHA256 algorithm, while Litecoin runs with Litecoin’s Scrypt algorithm. Notably, using the SHA256 algorithm, the miners can mine the litecoin cash with the SHA256 algorithm that allows LCC mining using the Application Specific Integrated Circuits. However, users can mine using both SHA256 and Hive mining. Hive Mining is agent-based mining and doesn't require any specialized hardware.

What features of LCC should one consider while investing?

· It offers lower transaction fees and a better difficulty adjustment.

· LCC has swift block times and supports Segwit.

· It is significantly cheaper, faster, and has a better difficulty retargeting when compared to Bitcoin.

Recently, Litecoin Cash on Twitter has announced the coming of MintotaurX to testnet by next week. It claims that the arrival of MintotaurX to Litecoin Cash will make the cryptocurrency available to anyone having a CPU.

MintotaurX is coming to #LitecoinCash next week to testnet. This is yet another big step for #Litecoincash adoption and #cryptocurrency democratization. This will make #LCC available to anyone with a CPU!

Litecoin Cash (@LitecoinCash), May 9, 2021.

After its creation in 2018, Litecoin Cash faced much criticism from the community. It was even called a scam by the founder of Litecoin. However, it still managed to emerge successfully. Despite all the criticism back then, Litecoin Cash aims to provide a faster processing time for the transactions and improve the block generation via an efficient network performance. It is constantly trying to improve the quality of its features that will ultimately lead to more popularity, valuations, and a greater degree of adoption. The future of the LCC looks pretty bright, and in this volatile market of cryptocurrency, it will not be a wonder to see Litecoin Cash coming up the market ranking.