In the evening of February 18, a snapshot of the Litecoin network was taken on block 1371111, and fork Litecoin Cash (LCC) was held. The team behind the fork promised to users within 24 hours to submit a release of the purse for a new cryptocurrency. Each Litecoin holder will be credited with 10 Litecoin Cash tokens.
It is reported that for the Litecoin Cash mining, the Proof-of-Work algorithm will be applied, and the network security will be ensured by the SHA256 algorithm. Also, it is expected that the creation of new units in the LCC network will take up to 2.5 minutes.
?????#Litecoin snapshot has been taken.
Stay updated wallet will be released within 24 hours!
— Litecoin Cash [ LCC ] (@LitecoinFork) 18 лютого 2018 р.
Recall that although some experts see Litecoin Cash as an opportunity for more effective mining, Litecoin’s creator Charlie Lee called the fork a scam. The price of Litecoin at the moment, according to CoinMarketCap, is $223.08 per token.