Ring! A first, uniting communities.
As many are now aware.
Ring will be the world’s first 4-way union.
Private keys from 4 different chains will be valid for import into a new wallet in order to claim the new coin.
This will be the widest initial distribution ever undertaken and will be accomplished by snapshotting balances of 4 blockchains on a predetermined date, with the first 30000 Ring blocks paying holders a proportionate entitlement of Ring.
We are proud to announce that this date will be 18-Feb-2020, the second anniversary of the LCC launch.
The 4 chains that will come together to form the Ring have finally been revealed!
- Litecoin Cash
- Bitcoin
- Dash
- Doge
Very special welcome to the communities at Dash and Doge! Recently announced as the final chains to be included with the fork.
We are combining chain states of mature, respected coins to capture over 30 years of cumulative blockchain history. Over 30 million individual addresses from Bitcoin, Litecoin Cash, Dash and Doge will all automatically receive a proportional amount of Ring.
Holders of Litecoin Cash will be rewarded with a significantly higher claim rate than its current exchange rate.
This will be done in order to give a sizable reward to our loyal community, who we consider to be the backbone of this great project and key to its future success.
The claim ratios for the 4 chains are as follows:
- 1 BTC = 1 Ring = 100 000 000 Ringsat.
- 1 LCC = 0.00020000 Ring= 20 000 Ringsat
Or simply put, for every 5000 LCC held, receive 1 Ring!
- The claim ratio of Dash will be derived from the exchange value against Bitcoin at the time of the snapshot.
- The claim ratio of Doge will be derived from the exchange value against Bitcoin at the time of the snapshot.
So, to recap and to ensure this is as clear as possible:
LCC is not going anywhere!
We will continue to actively develop and promote LCC as both chains will benefit significantly from technology introduced to the other over time.
LCC today is committed to the SHA256-Hive hybrid system that has proven so popular and served us so well. And yet, Hive technology has great potential to play a much bigger role in the Crypto space and beyond.
There are certain aspects of Hive which would work more effectively if the chain wasn’t solely committed to SHA256, therefore it is with this thought that we wish to do two things.
- Open up Hive technology to a much wider Global audience.
- Reward the LCC community for their belief and trust in us.
We simply want to take this whole show on the road, and to bring our loyal community with us. Opening up Hive to the wider world in this way will generate a significant amount of interest, not only from Crypto enthusiasts and miners, but also to the general public.
Ring will be a fast and secure platform featuring 3 different Crypto mining options. These options are all available for use from directly within the core wallet, ensuring a super easy, efficient and enjoyable user experience.
Hive!
The solid foundation for future growth.
Mining technology developed to secure the Litecoin Cash network by the same dev team, now meets a worldwide audience. Hive brings an additional and extremely energy-efficient mining dimension to the blockchain.
- On-chain agents (dwarves) are created who mine on your behalf, eliminating the need for specialised hardware. Anything from a Raspberry Pi to your normal desktop PC is fine.
- Become a Dwarf master and earn coins while securing the blockchain
- Through Ring, we are now able to offer Hive Mining to anyone who already holds one of our claim coins.
Minotaur!
Our custom designed hashing algorithm.
Allows you to mine with your CPU direct from within the Ring core wallet or by using an external mining program.
- Minotaur is designed to be tortuous for graphics cards, FPGAs and ASICs. It’s also designed to make core count more important than core performance, harkening back to Satoshi’s “one core, one vote” ideal.
- The algorithm dynamically configures a labyrinth of 21 interconnected nodes, each representing a different hash algorithm from a pool of 16 types. The algorithm continues to morph as the hapless Minotaur moves from node to node: he only learns which node he must visit next upon completion of the hashing task at the current node.
Proof of Play (PoP)
Secure the network by actual gameplay.
An immediate use case providing limitless possibilities to develop and build upon, introducing Ring and Crypto to the general public.
- We have developed a framework for implementing gameplay that can be used to secure the network. The first game that users will be able to play will be available upon activation and built right within the wallet in order to earn Ring while playing.
- While our initial launch will feature one in-wallet game (a 2d tile-placement game), we plan to add more games over time, as well as allow third-party game developers to implement their own games or integrate with existing titles.
- Proof-of-play mining gives a zero-investment way for new users to start to earn Ring even if they are not holding any of the claimable coins.
Check out the new Ring Website. Now live!
So guys, to conclude.
- Hive technology has evolved over the time and has proven to be a great success.
- The team are delighted to be able to introduce Hive to a Global audience.
- A natural evolution and the next step on our Journey together!
- Once again, special thanks to our community for the support and involvement. Well appreciated.
It is an exciting time to be part of this great project as we look forward to a bright future together.
The Litecoin Cash team.
BREAKING NEWS! Another special announcement.
Join us on Discord for *Saturday Night Hive* direct from LCC towers.
01-Feb-20 from 20.00 UTC!
Live music stream hosted by our very own Tanner and Loxley and where our beloved Tipsy will be in full party mood raining LCC.
Meet the team, register with tipsy and hang out with our growing communities at the LCC and Ring Discord channels. Always someone there for a chat or to help with any questions!
Additional information and regular updates may be found at our social media channels.
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