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A coin that represents the Litecoin cryptocurrency is on a printed circuit. Photographer: Chris Ratcliffe / Bloomberg
A fork in the blockchain of Litecoin this month he created a new cryptocurrency & nbsp; called Litecoin Cash, exchanged with the symbol LCC. Charlie Lee, a former employee of Google and creator of Litecoin, he tweeted a warning, & nbsp; however, denying any involvement and & nbsp; calling the Litecoin forks "a scam."
Lee believes that the creators of Litecoin Cash are trying to capitalize on the name of Litecoin & nbsp; and replicate the success of Bitcoin Cash, the controversial cryptocurrency created by the rigid fork which took place last year from the Bitcoin blockchain.
In an interview with CoinDesk, Lee said & nbsp;"It confuses people to think that Litecoin is dividing." The Litecoin community has no interest in dividing, just a few people trying to make money quickly, and calling it Litecoin gives them some legitimacy. "
The fork took place on February 18th and according to the official Litecoin Cash website, Litecoin Cash has a "t2.5-minute blocking time providing 4 times the bandwidth of the Bitcoin transaction, while transactions are 90% cheaper than Litecoin. "All Litecoin holders at the time of fork were entitled to 10 LCC, whose news blew up the price of Litecoin after buyers rushed to take advantage of the offer. & nbsp;
The confusion reigned then between
Coinbase
Since the fork, Litecoin Cash has fluctuated drastically, opening at $ 1.40, rising to $ 9.25 two days later before dropping to $ 2.38, where it is currently on the market at the time of writing this article. Trading volume was very low, as it traded only on YoBit and TradeSatoshi trades, according to CoinCodex.
Litecoin is the fifth largest cryptocurrency with a market capitalization approaching $ 12 billion, according to CoinMarketCap. Litecoin Cash is ranked 721, but its market capitalization has not yet been provided.
[Disclosure: Investing in Litecoin and other cryptocurrencies is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. The author owns Bitcoin, Ethereum and XRP.]
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A coin that represents the Litecoin cryptocurrency is on a printed circuit. Photographer: Chris Ratcliffe / Bloomberg
A fork in the Litecoin blockchain this month created a new cryptocurrency called Litecoin Cash, traded under the LCC symbol. Charlie Lee, a former Google employee and creator of Litecoin, he tweeted a warning, However, deny any involvement and naming of Litecoin hairpins "a scam".
Lee believes that the creators of Litecoin Cash are trying to capitalize on the name of Litecoin and replicate the success of Bitcoin Cash, the controversial cryptocurrency created by the hard fork that took place last year from the Bitcoin blockchain.
In an interview with CoinDesk, Lee said "It confuses people to think that Litecoin is dividing, the Litecoin community has no interest in splitting, it's just some people trying to make money quickly and calling them Litecoin gives them some legitimacy."
The fork occurred on 18 February and, according to the official Litecoin Cash website, Litecoin Cash has a "t2.5-minute blocking time providing 4 times the bandwidth of the Bitcoin transaction, while the transactions are 90% cheaper than Litecoin. "All holders of Litecoin at the time of the fork were entitled to 10 LCC, the news of which caused the price of Litecoin to jump after the buyers rushed to take advantage of the offer.
The confusion reigned then between
Since the fork, Litecoin Cash has fluctuated drastically, opening at $ 1.40, rising to $ 9.25 two days later before falling to $ 2.38, where it is currently on the market at the time of writing. The volume of trade was very low, as it is traded only on the YoBit and TradeSatoshi exchanges, according to CoinCodex.
Litecoin is the fifth largest cryptocurrency with a market capitalization approaching $ 12 billion, according to CoinMarketCap. Litecoin Cash is ranked 721, but its market capitalization has not yet been provided.
[Disclosure: Investing in Litecoin and other cryptocurrencies is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. The author owns Bitcoin, Ethereum and XRP.]
