Litecoin Cash (LCC) is the cryptocurrency platform that emerged from the first hard fork of the existing Litecoin (LTC) project. The split is scheduled on February 18, 2018, and is being managed by a group that is unrelated to the original Litecoin group.
Similar to the original Litecoin network’s LTC cryptocoins, the Litecoin Cash network uses LCC tokens as its cryptocurrency. All participants willing to migrate to the new Litecoin Cash platform will be awarded 10 LCC for each LTC coin they own at block 1371111 in the original Litecoin blockchain at the time of the fork.
After the fork block, Litecoin Cash switched to SHA256 proof-of-work hashes. This enables a new use for previously obsolete Bitcoin mining hardware. 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 was started from 0.25 LCC and grow to 250 LCC over the first 2000 blocks after the fork. The first 24 blocks after the fork has been 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.