LCC: 2020 Vision! – Litecoin Cash
Ring will be the world’s first 4 way fork.
Private keys from 4 different blockchains will be valid for import into a new wallet in order to claim the new coin.
This will be accomplished by snapshotting balances of these 4 chains on a predetermined date, with the first 30000 or so Ring blocks paying all holders of coins on these chains a proportionate amount of Ring.
Of course, the first and most important of these chains to be announced is Litecoin Cash.
The remaining 2 Chains will be announced in the following weeks.
Note: Holders of Litecoin Cash will be rewarded with a significantly higher claim rate than its current exchange rate! (Details to come)
This will be done in order to give a sizable reward to our loyal community, who we consider to be the backbone of this great project and key to it’s future success.
The claim ratio of the other 2 chains will be derived from their exchange value against Bitcoin at the time of the snapshot.
For example, if 1 BTC has a claim worth of 1 RNG, 1 XXX might have a claim worth of 0.00000030 RNG (based on current BTC-XXX exchange rate)
We are proud to announce that the Snapshot date will be 18-Feb-2020, (the second anniversary of LCC live activation) Holders of coins for the 4 chains on this date will receive a proportionate entitlement of Ring.
So, just to recap and to ensure this is as clear as possible.
LCC is not going anywhere.
We simply want to take this whole show on the road, and to bring our loyal community with us. Opening up Hive to the wider world in this way should generate a significant amount of interest, not only from Crypto enthusiasts and miners but also to the general public. Providing a platform for all.
For the tech Savvy!
“There is more goodness to come. Like LCC, the new chain will be a hybrid Hive chain, but the pow algorithm will not be SHA256.
We have developed a custom CPU mining algorithm, Code-named Minotaur. This is designed to be ASIC resistance and if not “GPU resistant” then at least “GPU tricky” by resisting parellelilisation via pipelining or tree flattening techniques.
There will be a simple to use multithreaded miner built right into the wallet. ANY hashing algo advertised as “cpu only” is really only an opportunity to restart the arms race with GPU coders, and this algo will likely be no different. This will be an agile chain. If hashpower which can only be explained by new private GPU miners appears on the network, we will aim to thwart them by changing our hash algo via UASFs”
Tanner, LCC/RNG Development lead.
However, that’s still not all. Ring’s hybrid chain will feature a third mining method.
Proof of play.
We have developed a framework for implementing gameplay that can be used to secure the network. The first game that users will be able to play will be available upon activation and built right within the wallet in order to earn Ring while playing.
So guys, to conclude.
Hive technology has evolved over the time and has proven to be a great success. The team at Litecoin Cash are delighted to be able to introduce and bring Hive to a Global audience.
The next step on our Journey together!
Once again, special thanks to our community for the support and involvement. Well appreciated.
We look forward to a bright future together.
The Litecoin Cash team.
Additional information and regular updates may be found at our Discord and Social media channels.
Published at Sat, 04 Jan 2020 20:22:03 +0000
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