https://medium.com/litecoincash/litecoin-cash-lcc-is-different-heres-10-reasons-why-50ec56e1717aLitecoin Cash is very different from other digital currencies in this space in many different ways.
Here’s just some of the ways:
We’re Uniquely Positioned: Litecoin Cash is not in competition with Litecoin. In fact, Litecoin Cash targets a different part of the market as it is mined through SHA256; the same mining algorithm as the Bitcoin Forks. This subtle difference makes Litecoin Cash the ultimate competitor to Bitcoin Cash, whilst also embodying the same open-source software as Litecoin.
We’re very Cheap and Fast: Litecoin Cash has 90% cheaper transaction fees than Litecoin. This means Litecoin Cash has got the lowest price per kilobyte of data. We also have target block times of 2.5 minutes giving four times the transaction bandwidth of Bitcoin Cash.
We’re High-Tech: Litecoin Cash supports SegWit (Segregated Witness) with bech32 addresses, which frees up space and capacity on our blockchain and enables more transactions to be added and stored. Litecoin Cash also supports DGW (Dark Gravity Wave) which uses multiple exponential moving averages and a simple moving average to achieve the smoother difficulty re-target mechanism. This provides security to issues like multipools as it retargets and controls difficulty after every single block. The overall benefits of DGW is that the chain becomes more secure and block times are much more consistent; despite large fluctuations in mining power.
We’re helping SHA256 miners: Litecoin Cash is one of the most profitable SHA256 coins to mine due to its advanced and more effective blockchain. This was the main reason why Litecoin Cash was created, so that we can revitalise the previously obsolete SHA256 mining hardware and help these miners sustain profits over time, which is still very difficult to do in the market today.
We’re very Secure: Litecoin Cash will be the world’s first SHA256 coin to utilize Hive Mining, the latest cutting-edge technology that helps to provide the ultimate protection from 51% attacks and double spending, and ensures the sustainable and long-term security of its public distributed ledger. Read more here.
We’re democratising mining: Litecoin Cash is soon to be the first SHA256 coin that will democratize mining to the masses, so that anyone everywhere can start mining without the need for specialized mining hardware. Hive Mining is an innovative and never seen before agent based mining contest that’s comparable to a virtual mining rig. The idea is that you can create virtual bees via our Core Hardware wallet, these bees then live on the blockchain and during their lifecycle of 7 days will attempt to find blocks to pollinate. The bees that successfully mine are then rewarded with a percentage of the block rewards. Read more here.
We’re using blockchain for good: Litecoin Cash is dedicated to making positive and powerful impact in society, and one of the ways in which we’re trying to do this is using our blockchain to store and manage electronic medical records in a secure way, as well as protecting sensitive data from hackers and giving patients more control over their information that complies with privacy regulations. Read more here.
We’re leading innovation: Litecoin Cash is driven by the motto of think differently. We have the very best set of developers, thought-leaders, influencers and helpers that are all driven to be leaders and not followers. For example, Litecoin Cash is the first coin to successfully launch a space drop from 35km; Litecoin Cash is the first coin to launch Hive Mining. We embody a sense of purpose in our coin. Read more here.
We’re working on scalable solutions: Litecoin Cash is a strong believer that decentralized, peer-to-peer and trustless systems will be the future of currencies, however we have a long way to go. That is why we are working on making second layered implementations to our blockchain such as the Lightning Network, which is a payment protocol that enables us to have faster and cheaper transactions at a global level. We are also planning to adopt Atomic Swaps (Or Atomic cross-chain trading) to facilitate the exchange of one cryptocurrency to another cryptocurrency quickly safely and securely without the need to trust a third-party.
We’re paying with LCC: Cryptobar, on Tenerife, was the very first brick-and-mortar location to accept Litecoin Cash. They’ll be happy to let you pay your tab with LCC, and will even make you a delicious Litecoin Cash Spring Pizza. Our ultimate vision is to become a globally accepted payment system; focusing on e-commerce, remittance, lending and micro-finance. Alongside this, our hybrid network of SHA256 and Hive Mining allow us to continuously have high stable hash rates making it very attractive for retailers and merchants alike #PaywithLCC.
