Litecoin and Bitcoin seem to be similar in a way. Litecoin LTC has experienced a hard fork in the past, which is the creation of Litecoin Cash. Similarly, Bitcoin has experienced a hard fork, which has led to the creation of Bitcoin cash, so this trend is not necessarily new.
Now, forks often occur in the cryptocurrency community, and it is thought that it may continue to happen, as long as the need (the fork is often created to overcome the problems faced by the original) still exists.
Although the market is bearish for most of this year, it has shown some clear signs of life, especially when we see the Litecoin price behavior recently. Litecoin is also looking forward to its hard fork, which is to be expected.
For those who are unaware of it, Litecoin Cash was created earlier this year. Every investor who owns one Litecoin gets 10 Litecoin cash — and this move is easy to see and the value is very large.
Litecoin’s founder, Charlie Lee, has opposed Litecoin Cash, calling it a scam. Many cryptocurrency influencers have opposed Litecoin cash, although others believe it is only because the project threatens them.
The project also did not claim any association with Litecoin and thought they only used the name because of the form in the blockchain. SHA-256 will be the algorithm used by Litecoin Cash, which is comparable to Bitcoin currency — this is also the algorithm used by miners.
Litecoin Cash is in an excellent position to move up because of its advantages. The project is at least four times faster than Bitcoin, and Bitcoin is already admirable.
It’s important to remember that this is not what is happening right now, but the ultimate goal of the project. However, in addition, the related costs will be 90% lower than Litecoin, and Litecoin has been used by thousands of merchants around the world!
Usually, when cryptocurrency is more efficient, it will be great — but the problem is the availability of real money. In the case of Litecoin Cash, it clearly solves both of these problems.
Many Litecoin investors have made money — and only hold Litecoin, which naturally strengthens the community around coins. In any case, Litecoin Cash can really grow up quickly. Time will tell if Litecoin Cash can get the support it needs to achieve true upside. If the project can be realized, there is no doubt that the market will respond positively. If you want to get more Litecoin news, please do follow me.