I used to talk about Bitcoin fork but never think about Litecoin fork. So recently i heard rumors about Litecoin fork and It's name is very interesting Litecoin casj like a bitcoin cash. What's wrong with these devs ? i think people or devs are greedy about money lol. Last year lot of fork happened in bitcoin and almost all said their fork will help to bitcoin become currency again not asset.
Forks are really helping to bitcoin...
I'm not totally against about these forks but they are not helping bitcoin at all instead trying to build there own kingdom around there. We all know about bitcoin becoming more like asset instead of currency, in 2017 bitcoin transaction fee hit all time high 40$ around 0.002 BTC and it helped bitcoin become more like asset. Currently it's around 30K satoshi but still high for me compared to when use bitcoin for transaction. But i think there will be good news are coming in 2018 because lightning network will change bitcoins current situation a lot.
And Litecoin need to fork
Despite of that Litecoin never had a problem with their transaction fee or speed and recently some devs are said they will fork Litecoin in block 1371111 and guess we will see Litecoin cash around 18 February . I really don't know why Litecoin need to fork because Litecoin is totally fine and have good condition. Not just that Litepay and Litepal there is 2 processing service are coming in this year. So i'm thinking some guys are trying to make free money here. Even Litecoin founder twitted about it may scam.
Well whatever decide it yourself in or out. Here is some information about fork
Litecoin Cash has advantages compared to the other main SHA256-mined coins, Bitcoin (BTC) and Bitcoin Cash (BCH). While those currencies both have a 10-minute block time, Litecoin Cash’s 2.5-minute block target allows much faster transaction confirmation.
Compared to Litecoin itself, the new fork features superior mining difficulty retargeting, via the proven DarkGravity algorithm used by Dash. Transaction fees are also reduced by 90% to provide incentive for real-world use.
In order to ensure a fair launch, Litecoin Cash implements slow-start control to block rewards and intend to pre-release a bootstrap file to prevent a blockchain download race once the wallets become available (slated to happen shortly after the fork block).
The network will use a new address prefix and replay attack prevention to eliminate inter-chain issues and minimize user confusion.
Comparisons
you will get 1:10 ration if you had Litecoin before block 1371111 and don't forget you need to hold your own private key or holding fund in supporting exchange(nothing announced).
Source and for more information
Website
Bitcointalk
Github