Litecoin (LTC) agiants Bitcoin Cash (BCH). The Flappening Site Is Removed
There is something common in Litecoin (LTC) and Bitcoin Cash (BCH) – both projects want to become the go-to coin for everyday payments. In fact both networks work on achieving speed and low transaction fees.
There is only one difference and it is the approach – LItecoin forked from Bitcoin years ago, amended the protocol and represented itself as an addition, not a rival to Bitcoin. Versa, Bitcoin Cash actively attacks Bitcoin, and hopes to remove it in the future.
Today Litecoin project can observe a direct attack from Bitcoin Cash supporters. A website named Flappening was built to track and compare both networks. Yet, the site was down for about a day, and there have been talks of attempts to purchase the domain. Flappening watch was back online later.
Last week BCH obtained a lot of ground, returning for a spell above $1,500, and talks of prevalence resurfaced, but also hatred with the Bitcoin community. BCH grew a net 49% in the past seven days, to $1,337.27.
Meanwhile, LTC remained rock-steady, sliding to $145.94, hardly moving during a week where some assets managed to double their prices.
Essentially, today both projects make raids on acceptance as a means of payment. Litecoin is accessible through a map powered by Coinbase. Bitcoin Cash is based on SMS for payments without Wallet. In addition, the BCH asset is now supported by BitPay, one of the older and better known payment systems.
Yet, the biggest force behind both coins is Asian speculative trading. Litecoin, however, is also based on GDAX, and has a different risk profile and a community that does not sell easily. Bitcoin Cash holds higher risk, and has seen more dramatic pumps based on the Korean markets.