Litecoin Cash – Why Litecoin Cash is rising?: Litecoin suffered a hard fork in the past after which Litecoin Cash was created.
Litecoin Cash price details:
Many of the cryptocurrency experts believe that Litecoin is going to increase more.
In anticipation of the hard fork, the main cryptocurrency that Litecoin has already increased by about 20% in the recent past. It was also aided by the bullish trend in most other cryptocurrencies.
What is Litecoin Cash?
Litecoin Cash was launched on 18 February due to the strong fork of Litecoin. For every 1 Litecoin held by the cryptocurrency holder, 10 Litecoin Cash were provided. Thus, the value that has been created is enormous.
The algorithm that would be used by Litecoin Cash is SHA-256. This is similar to Bitcoin. Furthermore, it is the algorithm that would also be used for mining purposes.
According to the official website, cryptocurrency is not associated with the mother cryptocurrency. Their website clearly indicates that they are using this name because of the fork in the blockchain. They are using this name because of the convention that is set by the previous forks.
The goal of the foundation is to draw up a block within 2.5 minutes. This will be at least 4 times faster than Bitcoin. In addition, Litecoin Cash's commissions are actually 90% lower than Litecoin's fees. This would ensure that the usability of the currency increases significantly. This is one of the main reasons why the price of Litecoin Cash is also appreciated.
In addition, if the block can be processed faster, this can ensure that Litecoin Cash can easily handle more and more transactions every hour. This is another positive for Litecoin Cash.
With the currency already rising at least 4 times in the last days, it remains to be seen whether it is possible to find further appreciations in Litecoin Cash or not. For now, however, investors do not complain because they have accumulated a substantial amount of returns in Litecoin Cash just by holding Litecoin.