Litecoin Network – Rumors about HardFork

Litecoin Network – Rumors about HardFork

At $ 106 on Feb. 2, the literate price rose to $ 140 in the last two weeks. They had a series of important events.

Launch of LitePay to be held on Monday, February 26.
In December, the Litecoin Foundation announced that it would develop its own payment platform after Bitpay refused to add the LTC. The new platform, which will be available on the desktop or mobile app, will allow consumers to buy goods and services with Litecoin tokens, which can be instantly converted into cash, which can be moved to bank accounts. Transactions will have a standard commission of 1%.

Since the Litecoin network processes transactions much faster than bitcoin (see below), the problem of waiting for transaction confirmation is almost inexistent (unlike the bitcoin network, which has lost its momentum in this area due to delays in processing payments).

This platform will facilitate the adoption of Litecoin at a much wider level, giving it the opportunity to distance itself from bitcoin.

In addition, Coinbase upgraded the company processing platform on February 14, allowing payments to be accepted directly in a personal wallet – and Litecoin is among the four platform-compatible coins.

Rumors about Litecoin / Litecoin Cash HardFork
We call it a rumor because it is not what community members call a hard fork – it’s a group of developers who have decided to use the literate code to create a “newer and better online form of online transactions.” They also altered the mining algorithm with that used by bitcoin, in a sort of attempt to recycle old mining equipment.

The developer of the new coin, who was just named Tanner, said: “Community involvement is the key to success for any currency. Using the hey-type ad, you already own the literate currency, look what we have new – it’s a good way to attract users.

He also said he named the new Litecoin Cash coin intentionally to attract users – who have signed up for a record number not necessarily because they trust the project, because they are offered “free money”.

Litecoin Cash will be launched through an airdrop promising that at LLC 1.371.111, LTC owners will receive the new LCC coin in a 10: 1 ratio – see more here.

More information about other cryptomonas you find here.

Litecoin founder Charlie Lee has warned that this new currency that gives the impression of hard fork is a scam that uses the name to promote, but legally there are no ways to prevent developers from running the project.

It is trying to confuse and persuade people that literacy is breaking up. The Litecoin community was not interested in a split. There are only people who try to make money quickly and the name Litecoin gives them legitimacy.

The Litecoin network has much better processing time than bitcoin
The site recently made a transaction transaction analysis – bitcoin is able to process 7 transactions per second compared to Litecoin, which can process up to 56 transactions per second.

Also, the processing time of the blocks is much better in the Litecoin network (2.5 minutes on average) than Bitcoin by 10 minutes.

While bitcoin failed to reach consensus on adopting SegWit, which would have helped reduce commissions, increase transaction speed and increase capacity, while Litecoin implemented the system.

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