Litecoin Cash Is Coming, Simply Nosotros Don't Desire It...

The "Litecoin Cash" difficult fork is coming Dominicus together with it has a lot of people confused.  Major media outlets fifty-fifty pointed to this fork equally a argue for Litecoin's rally the final twosome days - however, that wasn't the representative equally traders inside Litecoin forums most all cited LitePay equally the argue for raising their investments inwards the currency.

So, what is Litecoin Cash? Let's accept a look.

- It isn't an upgrade.  

The stated finish of the "Litecoin Cash" squad is to alter the mining algorithm from Scrypt to SHA-256.  Basically, similar Bitcoin was. The "Litecoin Cash" team  says transactions volition move xc per centum faster than the master copy Litecoin, however, these numbers are accurate when you lot own got a lot of miners together with non a lot of transactions.  Look to Bitcoin's transaction times if you're wondering what happens when SHA-256 mining is position nether a heavy transaction load.  Oh, together with toss inwards insanely high liberate energy usage into the listing of problems equally well.

In an interview amongst Smartoptions, "Litecoin Cash" developer going past times the call "Tanner" stated "Looking through the CoinMarketCap front end page, nosotros were actually surprised that at that topographic point were together with then few choices for SHA256 miners." well... there's a argue for that.

- This has zip to produce amongst Litecoin.

Charlie Lee, founder of the existent Litecoin stated:

"...any fork of Litecoin, calling itself Litecoin something or other, is a scam IMO. Litecoin Cash, Litecoin Plus, Litecoin *... all scams trying to confuse users into thinking they are Litecoin."

The "team" behind Litecoin Cash doesn't deny they're exactly stealing the call together with making a novel coin, saying:

"We’re using the Litecoin Cash call only because it has teach customary inwards recent months for a money which forks a blockchain to prefix its call amongst the call of the money beingness forked. This exercise has teach a widely understood convention. We’re non associated or affiliated amongst Charlie Lee or whatever of the Litecoin squad inwards whatever way; nosotros are big fans though."

- Who the hell is this "team" behind it?

Nobody is certain who these guys are. Mysterious photos that opposite ikon searches can't find, offset names solely - together with fifty-fifty a unicorn equally their PR mortal (which ironically is a pretty bad PR move.)

 Red flags.

- Over supplied, together with lack of support.

The provide is 10 times the size of the master copy LiteCoin - 840 1 K m coins. With no give-and-take of exchanges, or wallets planning to back upwards it.

Conclusion - what produce you lot necessitate to produce to prepare for the fork? Nothing. Because it doesn't matter.

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Author: Adam Lee
Asia News Desk