Litecoin (LTC) and Bitcoin Cash (BCH) have something in common - both projects want to become the go-to coin for everyday payments. For that reason, both networks work on achieving speed and low transaction fees.
The difference lies in the approach - LItecoin forked from Bitcoin years ago, changed the protocol and positioned itself as an addition, not a rival to Bitcoin. Conversely, Bitcoin Cash actively attacks Bitcoin, and has hopes of displacing it in the future.
And now, the Litecoin project may have seen a direct attack from Bitcoin Cash supporters. A website, called the Flappening, was built to track and compare both networks. However, the site was down for about a day, and there have been talks of attempts to purchase the domain. Flappening.watch was back online soon afterwards.
https://twitter.com/SatoshiLite/status/989191545222934528
In the past week, BCH gained a lot of ground, returning for a spell above $1,500, and talks of dominance resurfaced, but also enmity with the Bitcoin community. BCH grew a net 49% in the past seven days, to $1,337.27.
At the same time, LTC remained rock-steady, sliding slightly to $145.94, hardly moving during a week where some assets managed to double their prices.
!Litecoin!
In fact, right now, both projects are making forays into being adopted as a means of payment. Litecoin is available through a card powered by Coinbase. Bitcoin Cash relies on an SMS system for wallet-free payments. Additionally, the BCH asset is now supported by BitPay, one of the older and more prominent payment systems.
However, the biggest force behind both coins is Asian speculative trading. Litecoin, however, also relies 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.
This article appeared first on Cryptovest