[ANN][LCC] Litecoin Cash | SHA256 LTC fork @ block 1371111 | 10:1 claim ratio

[LitecoinCashOfficial]

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.

[laris2]

Finally!
A non Bitcoin Fork!

[michalst]

Reserved for Pool

[v.danev]

NEW POOL AVAILABLE

pool.DDClub.org

YiiMP Based no registration is needed!
0.5% fee why not give it a go

or simply connect your miner to :

Code:

-a sha256 -o stratum+tcp://ddclub.org:30013 -u [Your Wallet] -p c=LCC

Code:

Stratum   : ddclub.org:30013
User        : YOUR_ADDRESS
Password : c=LCC

Use d=x to set your diff according 

Pool Discord Room https://discord.gg/2WHbm54

[olkah]

Windows  wallet 

[iekh0813]

Hello,

if I have some LTC coins on my Ledger Nano S wallet, will I receive 10x LCC coins on 19 February 2018 ?
Thank you.

[LitecoinCashOfficial]

Windows  wallet 

We already have working Windows/Linux/Mac wallets.
However they will be available shortly after the fork block on our github page.

[olkah]

Windows  wallet 

We already have working Windows/Linux/Mac wallets.
However they will be available shortly after the fork block on our github page.

ok

[bitpotter]

Finally now it's litecoins turn fork, very unique and something different.

[laris2]

Hello,

if I have some LTC coins on my Ledger Nano S wallet, will I receive 10x LCC coins on 19 February 2018 ?
Thank you.

Yes, you will receive 10x LCC coins on block.
However the process of recovering the funds from Ledger Nano S wallet is slightly more complicated that from regular wallets.

[halkuon]

seems interesting, first the of the LTC forks?

[LitecoinCashOfficial]

@iekh0813 This is a tricky one to answer, but I'll get it out of the way here nice and early!

The keys that correspond to the addresses on your Nano will indeed receive 10X LCC. While you can't extract the keys directly from your device, you can use an OFFLINE tool such as https://github.com/iancoleman/bip39 to enter your bip39 phrase and recover the keys you need.

HOWEVER, there are two VITAL caveats which should be mentioned right here up the top of the official thread, especially since people holding LTC may well be new to the whole forking process.

1. NEVER EVER import those keys (or even extract them, ideally) until you have sent the LTC somewhere else. That means that you are keeping your LTC safe, by placing it under the control of a new, different private key. In your case, this means you'll have to set your Nano up again (and potentially transfer your LTC somewhere else in the meantime while you do that). It's a hassle -- but it's the safe way. So the process in general looks like: Wait for the fork; transfer your LTC to a new location; use the keys from the old location to claim your LCC.

2. NEVER EVER paste your private keys into ANY web-based tool. We will have an official balance checker that will require only a normal Litecoin address to check.

[bitpotter]

Just as a suggestion, it's better to work with one of the trusted exchange to get the 10: 1 claim, I'm sure everyone rarely keeps their litecoins in the desktop wallet or even keeps the private key.

[sparkus]

reserved for pool

[EnaksiS]

I always loved Litecoin and told all my friends to invest it. But this fork thing, i don't know. I think only BitcoinCash is worked all of this forks. I hope you success.

[johnnie18]

Hi Dev, I would like to ask if I have LTC coins in coinpot can I still exchange it in LCC? This is very much interesting project and is there mining using CPU or GPU or both?

[VPS_NODE]

waiting...

[olkah]

waiting...

[Anatoliyb50]

I flew before LTC, but now I'll wait for LCC.

[LitecoinCashOfficial]

Thanks for kind words all

@johnnie18: I'm unsure if coinpot allows you to export your private keys; but if so then you should be good. Alternatively we hope to work with as many exchanges and wallets as possible to allow people to be automatically credited with their Litecoin Cash.

Mining-wise, as LCC will be one of the few viable choices of places to send SHA256 hashpower (along with BTC and BCH), we expect to see usage of a few older generation ASICs as well as GPU rigs. CPU mining is realistically unlikely to be feasible much beyond launch, but the early blocks will be such a lottery before the difficulty adjustment scales up to match available hashpower that you should certainly try anyway

(Because of the low difficulty of those early blocks, we're scaling up the block rewards from 1.25-250 LCC over 400 blocks)