LCC

Overview of LCC

Litecoin Cash (LCC) is a cryptocurrency that was launched in 2018. The focused vision was to create a Litecoin fork that would, in many ways, outstrip its predecessor. LCC was not founded by an individual or specific team but rather emerged from a broader digital community. LCC can be traded on a number of exchanges, including but not limited to Yobit, Mercatox, and SouthXchange. It'd be safekeeping your LCC tokens in the official LCC wallet or other supported storage options such as Coinomi.

Pros and Cons

What Makes LCC Unique？

Litecoin Cash (LCC) is a derivative of the original Litecoin cryptocurrency, and presents several innovative changes. One of the key distinguishing features of LCC is the implementation of the SHA-256 hashing algorithm, rather than the Scrypt algorithm used by Litecoin. This allows for a broader range of mining hardware to be used in the LCC network.

Another notable difference is that LCC offers faster block generation times. While Bitcoin and Litecoin have block generation times of 10 minutes and 2.5 minutes respectively, LCC's block generation time is a mere 2 minutes. This potentially leads to faster transaction processing times. However, it's important to note that faster block times can also result in smaller block rewards for miners, and might lead to higher blockchain bloat.

How Does LCC Work？

Litecoin Cash (LCC) operates using the proof-of-work (PoW) consensus mechanism, much like Bitcoin and its predecessor Litecoin. However, in contrast to these other cryptocurrencies, it uses a SHA-256 hashing algorithm. This means that it can support a wide range of mining equipment, such as those used in Bitcoin mining. It has, as a result, a more inclusive mining community, and more security provided by the greater network hashing power.

As for the specific working mode of LCC, it targets a 2-minute block time. This means that approximately every two minutes, a new block of transactions is added to the LCC blockchain. Furthermore, this faster block time allows for quicker transaction confirmations.

Exchanges to Buy LCC

There are multiple exchanges that support the buying and trading of Litecoin Cash (LCC).

1. Yobit: Yobit offers trading pairs that include LCC/USD, LCC/BTC, and LCC/ETH.

2. Mercatox: On Mercatox, LCC can be traded against BTC and ETH.

3. SouthXchange: SouthXchange supports LCC/BTC trading pair.

4. Binance: Although not directly available, LCC can be traded on Binance by first converting LCC to BTC on a supported exchange and then transferring for further trading.

5. Coinbase: Like Binance, Coinbase does not directly support LCC, however, users can transfer converted LCC (to BTC or ETH) for trading purposes.

How to Store LCC？

Storing Litecoin Cash (LCC) can be done in several ways depending on the type of wallet you choose to use. Wallets are essentially the tools that allow you to interact with various blockchain networks. They can store your public and private keys and enable you to send or receive cryptocurrencies.

Here are some wallet types where LCC can be stored:

1. Desktop Wallets: These are installed on a PC or laptop. They offer complete control over the wallets and are secure. The official LCC wallet which can be downloaded from the official website of Litecoin Cash falls into this category.

2. Mobile Wallets: These are run from applications on a smartphone. They provide utility and convenience as you can perform transactions anywhere. A popular mobile wallet for LCC is Coinomi.

3. Hardware Wallets: These are physical devices that can store cryptocurrencies. These offer high security as they can be disconnected from the internet when not in use. Unfortunately, as of now, no well-known hardware wallets support LCC.

Should You Buy LCC？

Investing in Litecoin Cash (LCC), or any type of cryptocurrency, can be a suitable investment for individuals who have a good understanding of the digital currency market. These individuals are generally technologically savvy and are comfortable with the fluctuating, speculative, and unregulated nature of the cryptocurrency market.