What Is Litecoin Cash (LCC)? [Fundamentals, Exchanges & Wallets]

Enough of forking Bitcoin. It is time to fork Litecoin now.

You heard it loud and clear! It is now time for Litecoin fork and one such hard fork of Litecoin is already out in the market. This fork of Litecoin is called Litecoin Cash (aka LCC).

It is no joke or a rumor. Take a look at this tweet with its link which says Litecoin Cash market is updated at CoinMarketCap.

By now, I believe, you must have verified my claims. In this article, I will cover these following important points about Litecoin Cash in this write-up:

  • Why The Litecoin Cash Fork?
  • When Did This Fork Happen?
  • Team Behind The Fork
  • Litecoin Cash Specifications

Why The Litecoin Cash Fork?

The motivation of this fork is that there is no fast, cheap SHA256 coin with good difficulty adjustment. SHA256 miners have little practical choice of hash power destination, and if they do mine blocks they’re being paid in a currency with 10 minute block times.

LCC team believes that they can offer an excellent SHA256 coin for general usage. They love Litecoin and wanted to give something to the brave HODLer community. With everyone else too busy forking Bitcoin, they decided that the Litecoin blockchain was a perfect means of initial distribution for their coin. Hence they decided to fork Litecoin.

Must read: Do’s and Dont’s in the event of a hard fork. This is for Bitcoin but the same logic applies to Litecoin fork as well.

When Did This Forked Happen?

The fork happened on 18th Feb 2018 at the Litecoin block height of 1371111, which is why anyone holding Litecoin at block 1371111 will have 10X as much Litecoin Cash, provided they have their seed/private keys with them.

Team Behind The Fork

Here are details of the team members as per their official website:

There is a team of four behind this fork but they have only their initial names out on the website which is why it is difficult to do a real background check as of now. But so far, no issues or scams have been reported and it has been almost a month days since the fork happened.

Litecoin Cash Specifications

Below are some of the unique specifications of this newly born Litecoin Cash coin:

  • 10:1 Claim Ratio: For every 1 LTC you held at the fork block, you can claim 10 LCC.
  • SHA256 Mining: After the fork block, Litecoin Cash switched to SHA256 proof-of-work hashes. This enables a new use for previously obsolete Bitcoin mining hardware.
  • Network Resilience: Mining difficulty is recalculated every block, using Evan Duffield’s proven DarkGravity V3 algorithm from Dash. This provides more predictable block times as well as network protection from multipool hopping.
  • Optimised for the Real World: Target block time of 2.5 minutes gives 4 times the transaction bandwidth of Bitcoin, while transactions are 90% cheaper than Litecoin.
  • Slow-Start Control: To prevent dominant early miners having an unfair advantage, block rewards will start at 0.25 LCC and grow to 250 LCC over the first 2000 blocks after the fork. The first 24 blocks after the fork will be mined at minimum difficulty. After this, DarkGravity will adjust the difficulty based on observed block generation time. The 250 LCC block reward (equivalent to 25 LTC) will be halved at the same chain heights as Litecoin.
  • Small Premine: An equivalent amount to less than 1% of circulating money supply (less than 0.65% of total money supply) at fork time was paid to a development fund.

Who Is Supporting The Fork [Litecoin Cash Exchanges & Wallets]

Not many have actually come out in open to support this coin but all those who have come out in support are trustworthy.

Coinomi Wallet has declared that they will support LCC fork soon in their mobile wallet app, a claim that they also mentioned in their tweet.

Another well-known altcoin exchange, Yobit has also claimed that the trade of LCC is ON, on their exchange and same is evident from CMC markets too.

Apart from these two, there are few other exchanges that are listed on LCC website and upon little digging up we could find that Mercatox, TradeStoshi including YoBit are actually supporting this fork.

Conclusion-Is It Legit?

Despite Charlie Lee, the founder of Litecoin, tweeting that this a fraudulent fork, I was unable to find anything very direct/indirect fishy with this project.

Instead, the LCC team was found tweeting opposite of it and looked like spreading awareness about the security of user’s private keys.

However, I acknowledge the fact that they are doing a bit of pre-mining which nowadays is always the case when you see such forks come out which is just fine.

Also, their reason for forking Litecoin is not strong enough, but irrespective of that the market forces have welcomed this fork and it is trading at $5 per coin. So if you have 1 LTC at the time of fork that means now you also own 10 LCC which is worth $50 dollar in a bunch.

Also, this is free money and free money is always good and you might just thank Litecoin & Litecoin Cash for funding your evening coffee today!

Well, that’s it from me for now and I will be back soon on CoinSutra with proper vetted ways to claim this Litecoin Cash. And we will also be publishing the list of exchanges and wallets supporting Litecoin Cash once the scenario becomes more clear.

For now stay safe and keep your seed/private keys safely with you 🙂

Official Resources:-

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21 thoughts on “What Is Litecoin Cash (LCC)? [Fundamentals, Exchanges & Wallets]”

  1. Hello

    DO you know BYFEX Exchange

    They have no on-line support or offline everything is like working with a GHOST

    The trades are pending for weeks?? don’t know what to do ??

    can you help ??

    1. No words from Ledger about this fork. We will update when we have some solid and riskfree solution to claim LTC. Even we have to do the same for ourselves. Kindly wait for a few days.

      1. There is a solution coming very soon via Electrum/SPV wallets. Please follow us on twitter or join our discord and we will happily answer any questions you many have.

  2. Do you know if you can only claim LTC on full lite coins or partial eg if you have 0.5 litecoin do you get 5 litecoin cash or none?

  3. Hello! Also interested in this question about enrollment tokens LCC in the Ledger nano s!
    When will the information on this matter?
    Thank you!

  4. It’s just 10 times your LTC balance. Even if it was in decimals.
    So in your example you are able to claim 5 LCC for an 0,5 LTC original balance during the fork snapshot.

  5. How can you transfer your LCC coins transfered from LTC to another LCC wallet. LCC wallet at yobit is “in maintenance”. So you can’t do anything at the moment with your transfered LTC coins

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