The Litecoin community is buzzing about upcoming Litecoin hardfork that will produce a new digital asset – Litecoin cash. According to the announcement on the bitcointalk forum on February 3, Litecoin developers team is preparing a fork that will take place on Sunday, February 18 (at first it was scheduled on February 19). Anyone holding Litecoin will get ten times that amount of Litecoin Cash. Litecoin fans are puzzled as they do not see any clear reason for this branching out. Unlike Bitcoin, it has never experienced issues either with transaction time or with high fees. While fork does not solve any practical problems encountered by cryptocurrency users, it will be convenient for legacy Bitcoin SHA256 mining hardware users. The team behind the fork is anonymous: no full names, no links to social media accounts are provided, which is also rather suspicious.
Litecoin Cash presents itself as a faster, cheaper cryptocurrency, easier to be mined with a more simple technology than its competitors
Ripple stabilizes while awaiting new money inflows. $0.81 mark is the level to break to recover bullish strength. Litecoin Cash (LCC) has been introduced to the market after forking from Litecoin. This hard fork apparently offers some advantages that might be very attractive for the markets. Most of all, a certification speed of just 2.5 minutes instead of the usual 10 minutes. Moreover, LCC can be mined with technology that it no longer works for Bitcoins, cheaper and with less energy consumption. Litecoin holders will receive 10 LCC for each LTC they have.
Bitcoin is recovering from its lower levels seen yesterday morning, while other crypto currencies are flat to negative. Some of them maybe losing capital to Bitcoin, because Bitcoin had fallen down to attractive rates of $7000-7500 yesterday.
Cryptocurrency Rates in Euro – 07Feb2018, 12:00 CET
Bitcoin: BTC-EUR 6216.10 € +697.50 (12.64%)
Ethereum: ETH-BTC 619.43 € +10.26 (1.68%)
Litecoin: LTC-BTC 99.40 € -8.64 (-8.00%)
Iota: IOT-BTC 1.31 € -0.05 (-3.49%)