Analyst: Litecoin Core 0.17 Will Beat Bitcoin Cash in Transaction Speed and Cost
The upcoming release of the new version of the Litecoin client will make the cryptocurrency “faster” and “cheaper” than Bitcoin Cash, the analyst says, while the developers promise a 90% reduction in fees.
Litecoin Core 0.17, which according to the Litecoin Foundation is “coming soon,” will provide a number of benefits for the end user of the cryptocurrency. Specifically, transaction transfer fees, which currently average $ 0.05, will be closer to $ 0.005.
Alternative Assets analyst and president of LearnCrypto.io Nick Gelman argues that this will change the current state of affairs, in which it is more expensive to use Litecoin than Bitcoin Cash. Despite its higher capitalization, Bitcoin Cash is slower and has a more fragmented community, he adds..
“Currently, the blocks are not filled completely, so there is no need to pay higher fees,” the developers write. “This is one of the reasons that prompted us to make these changes”.
Meanwhile, Vice President of Blockstream Warren Togami drew attention to the fact that the average 30-day hash rate of Bitcoin Cash is currently less than 7% of that of Bitcoin. This factor, he said, “is important because it entails the risks of insolvency of exchanges if a re-spending attack is carried out on them.”.
In early September, Togami already warned of the problem when the ratio fell below 8%, comparing the current situation in the Bitcoin Cash network with the history of Feathercoin, which split from Litecoin in April 2013 via a hard fork and was soon undergoing a 51% attack. The threat looming over the Bitcoin Cash network is no longer “hypothetical,” he said..
Earlier, Multicoin Capital, which admitted to holding a short position in Litecoin, criticized the cryptocurrency for its numerous shortcomings.
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