Archive for the ‘Crypto Coins’ Category

If you just had enough of Bitcoin forks lately, then this might be of interest – an upcoming Litecoin fork called Litecoin Cash (LCC) is coming up shortly and it will be using SHA256 as mining algorithm among some other changes. The Litecoin Cash (LCash anyone?) will be forking at Litecoin block which should occur on or around February 19th, 2018 will have a 10:1 claim ratio for Litecoin (LTC) users holding their coins in a local wallet or a compatible exchange or service that will support LCC. The maximum LCC supply will also be 10 times higher at 840 Million and the block reward will also be 10 times higher than what Litecoin currently has, so 250 LCC per block. The target block time remains at 2.5 minute, though difficulty adjustment will be changed, LitecoinCash will be using Evan Duffield’s proven DarkGravity V3 algorithm from Dash to recalculate mining difficulty on every block. There will also be a a slow start for the mining so block rewards will start at 1.25 LCC and grow to 250 LCC over the first 400 blocks after the fork. Unfortunately there is also a mention of a premine, supposedly less than 1% of total money supply at fork time to be paid to a development fund (should be about 5.5 Million LCC).

The reason that the team behind Litecoin Cash (LCC) cites as choosing to switch to SHA256 proof-of-work algorithm for mining is that this should enable a new use for previously obsolete Bitcoin mining hardware. While that may be true it will also open up the doors to large mining farms using up to date Bitcoin mining hardware, so well… good luck with that if things pick up fast. The “small premine” is not small at all even at 1% considering that there are already 55 Million Litecoins in circulation (out of 84), so around 550 Million at forking time for LitecoinCash out of 840 Million. The 1% premine is 5.5 Million LCC or 550 Thousand LTC, looking at it this way certainly does not make it “small premine”, does it? So next up anyone else seeing Litecoin Gold or more likely Litecoin Silver with Equihash or another GPU friendly mining algorithm? Anyway, nobody holding LTC is going to refuse some free coins, just be careful and always transfer your Litecoin coins to a fresh address first before importing any private keys into LitecoinCash or any other fork wallet for that matter.

Here is how Charlie Lee (the creator of Litecoin) has comment on Twitter regarding LitecoinCash (LCC) and any other forks that use Litecoin as a part of their name, according to him “any forks that you hear about is a scam trying to confuse you to think it’s related to Litecoin”. It is up to you to decide for yourself should you support LitecoinCash (LCC) and/or any other forks that may come out bearing the name Litecoin something.

For more information about the upcoming Litecoin Cash (LCC) fork of Litecoin (LTC)…

InterPlanetery Broadcast Coin (IPBC) is a new project for sharing digital content online with with an integrated cryptocurrency ecosystem. Think along the lines of YouTube, but without any advertisements, instead users uploading videos on the platform get compensated by the people watching them. IPBC comes with a web media miner that essentially uses some of your computer’s resources to mine while you watch the video and all the used hashpower gets credited to the person that has uploaded the video. There is no need for visitors to download and use a dedicated miner, everything happens directly inside the browser and the mining does not interfere with the video watching.

The best thing is that even though IPBC is still a new project the video platform with mining integration is already available, so it is not just something promised to come out after months as it is already out there. You can of course also mine IPBC coins the traditional way, the project uses Cryptonote/Cryptonight (just like Monero) and there are already quite a few pools out there (aside from the official ones) that offer you to mine it. Of course if you are a video content producer you might want to also try the IPBC platform and upload some videos and try that as well. There is also a web-based miner available for users built inside the platform, though you probably would want to stick to GPU mining with dedicated mining rigs than to use the web-based CPU miner yourself.

The project looks promising and is already doing quite well even though it is just a few days since the official announcement, the team has already announced their plans to have the coin listed on an exchange (listing on Livecoin has been announced for February 21st) as well as other interesting plans for improvements and new features… remember that it has just launched and the IPBC platform is still in beta.

To check out more details about the InterPlanetery Broadcast Coin (IPBC) project…

The first larger crypto currency exchange to enable support for deposits (address generation) as well as trading of the new Bitcoin Gold (BTG) fork is HitBTC. Trading markets for BTG are available for Bitcoin, Ethereum and USDT, though the BTC market is the largest one with almost 2000 coins volume in no time. The current exchange rate of BTG is about 0.025 BTC per coin or about 150-160 USD, so lower than the initial trading before the actual Bitcoin Gold network went online. At the moment there are still not a lot of BTG coins available on the market due to the fact that most users still haven’t claimed their Bitcoin Gold coins they got for holding BTC in their wallets, so that can cause initial spike in price back to higher levels until more coins are available. Although the initial start of the BTG network was a bit slow and not without issues now things are apparently getting normalized and we should soon see more exchanges adding the asset for trading.

For more details about the HitBTC crypto exchange already trading Bitcoin Gold (BTG)…


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