[We taught safe forking to the LTC community.We performed the first ever spacedrop.We developed Hive mining.Now, the Litecoin Cash team brings you a new project. Introducing:The Ring (Ticker: RNG)]

We taught safe forking to the LTC community.

We performed the first ever spacedrop.

We developed Hive mining.

Now, the Litecoin Cash team brings you a new project. Introducing:


The Ring (Ticker: RNG)

Uniting 4 chains to forge a Ring on 18 Feb 2020
FULL MAINNET RELEASE: 21:00 UTC, SATURDAY 14 MARCH

World Record Initial Distribution

To ensure the widest ever distribution of a new coin, on 18 Feb 2020, chainstate snapshots of BTC, LCC, DASH and DOGE were taken. A proportional Ring balance will be paid to over 30 million addresses (representing over 30 years of compressed cumulative blockchain history).

Snapshot Blocks

These blocks all occured close to 12:00 UTC (midday) Tues 18 Feb 2020.

• Bitcoin 617922
• Litecoin Cash 1907989
• Dash 1223510
• Dogecoin 3110554

Claim Rates

• Bitcoin 1 BTC : 1 RNG
• Litecoin Cash 1 LCC : 0.00020000 RNG (5000 LCC : 1 RNG)
• Dash Claim rate will be as per BTC price at snapshot point
• Dogecoin Claim rate will be as per BTC price at snapshot point

Three Ways To Mine

Our unique symbiotic chainwork scaling algorithm is designed to allow additional security on hybrid chains by encouraging the different mining dimensions to work together (see our Hardening The Hive paper for more info).

Proof-of-work using a new bespoke CPU minable hash algorithm, Minotaur. This algorithm is designed to level the playing field as much as possible; core count is far more important than core speed, with cores that have a 10x performance difference on paper showing only 2-3x performance difference while hashing Minotaur.

In-wallet Minotaur CPU miner

Hive mining: Create on-chain agents (dwarves) who mine for you during their lifespan (see the Hive mining guide or whitepaper)

Agent-based hive mining

Proof-of-play: Play games inside the wallet to earn rewards. This is no gimmick; gameplay directly generates blocks and secures transactions.

Proof-of-play mining

Scaleable Gamification

Our proof-of-play protocol is designed for integration with additional games. Right from launch you'll be able to do proof-of-play mining from within the wallet; but in the future, third party game developers could have their players earn coins while securing the blockchain.

The Rialto

We know that like us, you don't trust any of the companies promising you "end to end encrypted chat". We also know that you do trust the cryptography that protects your coins every day.

Shakespeare's Rialto was a street in Venice where merchants would meet to discretely conduct their business. Our Rialto will be a wallet-integrated chat application offering true end to end encryption and fully integrated low-friction payments. Note that we're not talking about storing your chat on-chain! Rather, on-chain keypairs will be used to negotiate secure session keys for offchain p2p chat.

Economic Parameters

• Block time: Approx 30 seconds across all block types (pow, hive, pop). Even distribution of each block type is expected.
• Transaction bandwidth: >30K transactions / minute (assuming 250 byte transactions).
• Total initial distribution: Approx 19 million RNG paid to approx 31 million addresses (exact figures to follow after snapshot point)
• Development fund: 2% of initial distribution
• Proof-of-work block reward: 0.2 RNG
• Hive mining block reward: 1 RNG
• Proof-of-play block reward: 0.05 - 0.2 RNG
• Inflation: Less than 2% per annum, tending towards zero as chain approaches infinite length. Note that Hive mining is overall zero-sum and non-inflationary.
• Hive mining parameters (see the Hive whitepaper):
  • Dwarf maturation time: Approx 24 hours
  • Dwarf lifespan: Approx 10 days
  • Sustainable population at GI=100: 1 million dwarves.

Availability

The Ring wallet will be made available in source form and as binaries for all platforms at 21:00 UTC on SATURDAY 14 MARCH.

Our Minotaur reference implementation is already available.

How to Participate

Simply hold LCC, BTC, DOGE or DASH for the duration of the snapshot day, 18 Feb 2020, on private keys that you control. See above for the specific snapshot blockheights for each chain.

You don't need to trust us in order to claim your coins. In common with an IFO, after the snapshot you should move all your funds to a fresh private key. Once the wallet is released, you can safely import the private key you used to hold your funds during the snapshot. Always practice safe forking!

Confirmed Exchanges

         

Confirmed Services

Links

Visit our site, ringcoin.tech for a chance to win 100 RNG - equivalent to holding 100 BTC through the snapshot point!

• Official website
• Discord
• Telegram
• Twitter
• Reddit
• Medium
• Facebook
• Github
• Email: info@ringcoin.tech

The Litecoin Cash dev team, in association with Sent Into Space, is proud to present the first ever cryptocurrency spacedrop. 160000 Litecoin Cash will be dropped from near space on 15 May 2018!

Whilst an “airdrop” is a popular way of stimulating interest in a new cryptocurrency by providing coins for free ahead of launch, this is the first instance to date of a literal airdrop, where cryptocurrency will fall from the sky!

A weather balloon will be released from a launch facility near Sheffield, England. Slung underneath the balloon, will be a net containing 400 “golden tickets” each worth 400 Litecoin Cash (LCC).

The balloon will rise to an altitude of over 32km (100000 feet). At the apogee of the ascent, a release mechanism will allow the tickets to disperse. They will reach speeds in excess of 300km/h before slowing down as air resistance increases. It’s anticipated that the golden tickets could take around an hour to reach the ground, and scatter over a radius of several hundred kilometers, so those in Great Britain, Ireland, France, Belgium or Netherlands should watch the skies for a golden ticket!

A 360-degree camera on a bespoke mount engineered by Sent Into Space, will capture the release from a truss facing the payload, and a video will be made available as soon after the event as possible.

The Litecoin Cash team envisage the spacedrop as an end of season grand finale to round off a successful first two months in which the fork was launched, core wallets released, a community has been fostered and grown, SPV desktop wallet and server software has been ported, and a white paper released.

Says developer Iain “Tanner” Craig from the Litecoin Cash team: “We’re really proud of what we’ve achieved from the first phase of our project, and completing our desktop light wallets seemed like the perfect time to celebrate everything we’ve accomplished to date before refocusing our efforts for the next chapter. We also wanted to reward our awesome community, and particularly our sometimes under-appreciated moderator team, with an epic event. When we met the guys from Sent Into Space, doing the first ever real airdrop seemed like the perfect opportunity.”

Sent Into Space are global experts in Near Space, applying cutting-edge research and innovation to create inspiring experiences. A rapidly growing company, based in Sheffield, UK, they have been applying their expertise in edge of space flight operations since 2011.

Now encompassing a research arm with ties to multiple universities and the UK Space Agency, a nationally acclaimed educational program, a suite of corporate marketing and publicity services and a range of do-it-yourself kits the seem the obvious choice to make the dream of the first ever cryptocurrency space drop, a reality.

Roger from the LCC team explains: “We’re extremely proud to be working with Sent Into Space for this monumental and exciting event. With their exceptional track record, in-house expertise and forward thinking creative and marketing team, we see them as the perfect partners to literally launch our currency to the upper reaches of the atmosphere“.

More info on our website: https://space.litecoinca.sh

[We're forking Litecoin... and making it SHA256. Yep!]

We're forking Litecoin... and making it SHA256. Yep!

The Hive

A brand new method of mining with Litecoin Cash.

The Hive, our agent-based mining proposal, requires no specialised hardware; any desktop PC is fine. It's centered around the concept of
worker bees, which can be created by any LCC holder, who then becomes a beekeeper.

Once mature, worker bees have a finite lifespan during which they live inside the blockchain and help to secure it by minting blocks. Beekeepers will earn rewards whenever one of their bees mints a block.

• Existing SHA256 miners and pools are not affected. Proof-of-work blocks will be accepted by the network at any time, so SHA256 mining hardware never needs to stand idle.
• 51% network attacks are rendered ineffective. Worker bees won't mint blocks on an attacker's private chain, so they cannot accumulate enough chain work to perform a 51% hashpower attack.
• The mining process will be democratised, as any LCC holder can become a beekeeper.

   Read our whitepaper, "The Hive: Agent-based Mining in Litecoin Cash"

   Read the guide to hive mining

Space drop!

On May 17 2018, as our "Season 1 Finale" to celebrate a successful first couple of months, we dropped 160000 LCC from space. Crypto airdrops? This is the real thing!



Full mission info here.

Details

Fork Block - At block 1371111, Litecoin Cash hard-forked away from the Litecoin blockchain.

10:1 Claim Ratio - For every 1 LTC you held at the fork block, you'll receive 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 1.25 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 halven at the same chain heights as Litecoin.

Small Premine - Less than 1% of total money supply at fork time (~0.65% of total money supply) will be paid to a development fund.

To learn more, please visit our website.

FAQ

Just WHY?

There is no other fast, cheap SHA256 coin with good difficulty adjustment. SHA256 miners have little practical choice of hashpower destination, and if they do mine blocks they're being paid in a currency with 10 minute block times.

We believe we can offer an excellent SHA256 coin for general usage. We love Litecoin, and wanted to give something to the brave hodler community. With everyone else too busy forking Bitcoin, we decided that the Litecoin blockchain was a perfect means of intial distribution for our coin.

Why are you using the Litecoin name? Is this an official Litecoin project?

No. We're using the Litecoin Cash name simply because it has become customary in recent months for a coin which forks a blockchain to prefix its name with the name of the coin being forked. This practice has become a widely understood convention. We're not associated or affiliated with Charlie Lee or any of the Litecoin team in any way; we are big fans though.

Will I be able to claim if I have coins stored on an exchange? Or a Ledger hardware wallet?

See below for exchanges offering automatic credit for LTC holders.

The very best way to hold coins during the fork where you know you'll have control of the keys is to use a desktop Litecoin wallet such as Litecoin Core or Jaxx.

If you use a Ledger, the simplest solution is to move funds from your Ledger to a desktop wallet, just until the fork block happens.

Part of the reason it's so great is that it's impossible for you to directly access private keys for your wallet addresses. What is possible is to use your 24-word BIP39 phrase in conjunction with an offline tool such as this one, which you must save and run locally while disconnected from the internet. That tool can derive your private keys from your 24-word phrase, however, you really shouldn't do this. For one thing, you'll need to reinitialize your Ledger wallet in order to practice safe forking. It's really simplest to transfer your LTC to a desktop wallet, and transfer it back after the fork.

IN ALL CASES: Practice safe forking. That means you must never paste private keys that hold live funds into ANY website or wallet in order to claim fork coins -- including ours. After the fork, FIRST move your LTC to a new address, THEN use the private key from the "old" address to claim your LCC.

Does my wallet need to be unencrypted during the fork?

No; it doesn't even need to be open. Paper wallets and other forms of cold wallet will receive LCC without issue.

If I own Litecoin, do I automatically own Litecoin Cash too?

YES - Anyone holding Litecoin at block 1371111 will have 10X as much Litecoin Cash. If your LTC is stored by a third party such as an exchange, then you must inquire with them about claiming your Litecoin Cash.

How do I claim my Litecoin Cash once I have my LTC private key?

Firstly, NEVER paste private keys that hold any currency into ANY website or wallet in order to claim forked coins (including ours). Practice responsible forking: 1. Wait for the fork; 2. Move your Litecoin to a new address; 3. Use the private key for the "old" address to claim your Litecoin Cash.

We've made it super easy to claim. No need to mess around in the debug console! When our wallet’s released, you'll find a menu item to help you import your Litecoin private keys and claim your Litecoin Cash.

Compared to Litecoin: Litecoin Cash has lower transaction fees, better difficulty adjustment, and is mined with SHA256.

Compared to Bitcoin: LCC is much faster and cheaper, and has far more bandwidth and better difficulty retargeting.

Compared to Bitcoin Cash: Litecoin Cash supports Segwit, and has much faster block times.

Mobile Wallets

Coinomi (auto credit for LTC at fork time available)

Exchanges



TradeSatoshi (auto credit for LTC at fork time available)

Mercatox (auto credit for LTC at fork time available)

CryptoBridge (NO auto credit available, only post-fork market)

SouthXChange (auto credit for LTC at fork time available)

StocksExchange (NO auto credit available, only post-fork market)

Meet the Team


Learn more about the team

CoinMarketCap

CoinMarketCap

Block Explorers

Block explorer 1 Block explorer 2

Community

OFFICIAL WEBSITE | Discord | Telegram | Twitter | Github

Wallet Download

Download on our website

Media Mentions

Our BCT [ANN] thread, 3 Feb 2018
Steemit post by smarthamster72, 4 Feb 2018
Crypto Mining Blog, 4 Feb 2018
Smart Options article, 4 Feb 2018
Cripto Noticias article (Spanish), 6 Feb 2018
"Litecoin Cash - фopк Litecoin? Aфepa или нeт?" (Russian), 8 Feb 2018
Huge interview with Tanner, 8 Feb 2018
Crypto-Bit Brothers: Full show about LCC! (Video), 8 Feb 2018
REALIST NEWS - How to Get your LiteCoin Cash from the Fork (Video), 8 Feb 2018
Even more FXStreet commentary, 9 Feb 2018
Cliff On Crypto vlog (Video), 9 Feb 2018

Caution!

Practice responsible forking! Always transfer your coins to a fresh address before importing any private keys into any fork wallet.