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Litecoin Cash Forecast: 6 facts to know before the split

After Bitcoin and Ethereum, Litecoin is the next cryptocurrency facing an impending hard fork. In layman’s terms, it’s a split in Litecoin’s blockchain that will create a new cryptocurrency named Litecoin Cash. The Litecoin split date has moved to the coming Sunday (February 18, 2018). Here are a few facts you need to consider before you jump on this bandwagon.

1. Litecoin will be forked at block number 1371111 to create Litecoin Cash.

2. Litecoin Cash will reward Litecoin owners in the ratio of 10:1.
   This simply means is that for every Litecoin you hold in your private address at the time of the fork, you’ll be eligible to receive exactly 10 Litecoin Cash coins.

3. In terms of mining, Litecoin Cash will be closer to Bitcoin than to Litecoin.
   Litecoin Cash is being built on the SHA-256 mining algorithm—the same as Bitcoin. Litecoin, on the contrary, uses Scrypt mining. The two mining methods require different computer rigs.

4. Litecoin Cash developers claim the coin will be cheaper to transact in compared to Litecoin. The exact fees are not known at this point.

5. No notable cryptocurrency exchange has indicated it will list Litecoin Cash for trading.
   Although the developers say they are in talks with some exchanges, trying to convince them to add the coin, there are no specific names identified and no public confirmations have been made.

6. Litecoin founder Charlie Lee has cautioned investors against Litecoin Cash.

So, while the project, per se, may be legitimate, the reasoning behind the hard-fork seems partly dubious and partly inane. Having given a fair warning, we’ll be taking a seat on the fence to let investors make their own call based on their research.

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Culled from: Crypto News maker