*DISCLAIMER : I got informed this is not true. I'm sorry for the misleading information.*
The claim: Mining Hardware Recycling
As stated in several news sites this was the announcement for the fork:
Litecoin Cash (LCC) is a hard fork that pretends to give a second chance to obsolete Bitcoin mining hardware. The Litecoin's derivative is planned to happen over this weekend, around February 19th, embedded at the block number 1.371.111 and brings with it a change in the algorithm, changing Litecoin's Scrypt, for a new usage of SHA-256 with a lower difficulty enabling obsolete Bitcoin miners to be redispose for the new fork.
The chosen SHA-256 comes with a faster generation of blocks, instead on the 10 minutes as Bitcoin, Litecoin Cash will generate blocks every two and half minutes, initially with a much lower difficulty will make old Bitcoin miners effective and valid for its use. As selling point the Litecoin Cash is promising a 90% lower fee price than Litecoin itself to promote its market usage and bring more transactions and mining activity to its realm. Like other forks the only thing you will need to be able to redeem your newly minted LCC coins will be your Litcoin private keys, and the ratio for the freebies will be for every 1LTC you will get 10LCC. The new chain claims to be protected for double spending and seems to be prepared for full implementation after this weekend.
Now we know is just fake news (sorry for misleading writing) and in part created some expectation around litecoin besides the announcement of the LitePays implementation.
This news might be the reason for the pump on Litecoin prices we have seen in the last 48 hours.
Did got into the hype too? Please share your opinion in the comment section.
Thank you for reading.
Cheers!
The founder stated it wasn’t true
Thank you!
Ltc have already stated no fork will be done.
thank you
what will this fork really acomplise tho?
bitcoin have been forked so many times it's unreal.
i just hope that Litecoin wont have the same thing happen.
Thanks u for sharing new information for litecoin hard fork, good luck my friend @albertogm 👍
I've written a guide on how to safely claim your Litecoin Cash #LCC from a Litecoin #LTC core wallet.
Would appreciate if you share and comment on it guys.
How to safely and securely claim your Litecoin Cash from the upcoming fork
Charlie Lee said that this is a scam, obviously it is like the competition, on the other hand that happened also with bitcoin when bitcoin gold is unknown, now we will have to wait this Sunday will be the so-called hardfork with a ratio 1:10 is quite promising if it really happens