DEFINITION of 'Litecoin Cash (LCC)'

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.

BREAKING DOWN 'Litecoin Cash (LCC)'

The new Litecoin Cash network claims to offer improved transaction processing, enhanced mining capacity to easily generate more cryptocoins and blocks using the legacy SHA256 mining hardware, and an efficient network with better bandwidth availability.

Being generated as a result of the fork exercise, the Litecoin Cash network will exist in parallel with the original Litecoin network that is currently operational. (See also: What Is Litecoin And How Does It Work?)

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.

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