James Mickleboro | February 20, 2018 Enter your email below for FREE access to this article and all the content on the site. Also receive Take Stock, The Motley Fool’s unique email on what’s really happening with the share market.
You may unsubscribe any time. Last year bitcoin (BTC) went through two so-called hard forks that resulted in the emergence of Bitcoin Cash (BCH) and Bitcoin Gold (BTG).
A hard fork occurs when a single cryptocurrency splits in two, usually as a result of the cryptocurrency’s existing code being changed, resulting in both an old and new version. While Bitcoin Gold didn’t quite capture the imagination of cryptocurrency traders, Bitcoin Cash certainly did and it has since become the fourth-largest cryptocurrency by market capitalisation.
But bitcoin isn’t the only cryptocurrency that has been the subject of a hard fork. Overnight the popular altcoin Litecoin (LTC) had a hard fork of its own, resulting in the launch of Litecoin Cash (LCC).
Owners of Litecoin at the time of the fork received 10 Litecoin Cash tokens for every LTC they owned. Litecoin Cash is an upgraded version of Litecoin with quicker processing times and lower transaction costs. Read more from fool.com.au…
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