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Litecoin Cash Outline Strategy In Whitepaper

Litecoin Cash Outline Strategy In Whitepaper

Litecoin Cash outline strategy in whitepaper Litecoin Cash developers employed an Initial Fork Offering (IFO) model to realise monetary distribution. Litecoin Cash (LCC), which hard-forked from the Litecoin (LTC) blockchain in mid-February this year, published the first version of its whitepaper, revealing the companys short term goals, including an Initial Fork Offering (IFO), the development of an SPV digital wallet, atomic cross-chain trading and lightning network integration. Litecoin Cash is a token that currently trades on eight minor cryptocurrency exchanges and offers Litecoin traders 10 LCC for every 1 LTC held at the forked block 1,371,111. Claims can be made retrospectively, any time after the fork, as long as control of the private keys is kept. This is known as an Initial Fork Offering (IFO). We present a best of all worlds cryptocurrency targeting the existing mining community whilst offering practical, everyday features to benefit miners and users alike. Features are cherry-picked from existing currencies and implemented with optimized parameters to provide a cheap, fast and stable, general-use blockchain. Litecoin Cash team explain their forked cryptocurrency model via the whitepaper Litecoin Cash developers employed the IFO model to realise initial monetary distribution, using a mature and well-maintained currency to provide the donor ledger, in order to encourage user uptake and provide liquidity. LCCs features will include rapid transactions and confirmations with two and a half minute block times, low friction spending with tiny fees, Segwit support and lightning network support, according to the whitepaper . Litecoin Cash utilizes bitcoins SHA-256 hashing algorithm in place of Litecoins Scrypt. This is likely to recruit a ready mining network from Continue reading >>

Addressing The Litecoin (ltc) And Litecoin Cash (lcc) Power Struggle

Addressing The Litecoin (ltc) And Litecoin Cash (lcc) Power Struggle

Addressing The Litecoin (LTC) and Litecoin Cash (LCC) Power Struggle March 13, 2018 By Sandip 2709Views 2Comments In the Cryptocurrency world, forks are always at the forefront of every topic of conversation amongst investors. The prospect of the creation of a new Cryptocurrency( in this case, a new chain) from the parent token has been always highly sought after, as shown by Bitcoins fork Bitcoin Cash, as well as later forks as well. However, in the present, two cryptocurrencies are making waves in crypto-circles around the world. Litecoin and Litecoin Cash. The newer LiteCoin Cash or LCC was first launched on February 18, 2018, a split from the original Litecoin (LTC) chain. When comparing the two, it may seem at the first glance that Litecoin is still holding the upper hand in this Cryptocurrency arms race. But just like every other thing in this market, price movements and value of the currencies can change due to a variety of factors, with the major one being Market sentiment. At the time of writing(08/03/2018), Litecoins price stands at $181.60 USD with a Max supply of 84,000,000 LTC tokens compared to Litecoin Cashs price of $0.480927 USD. However, the maximum supply of tokens for Litecoin Cash is much higher, currently at 840,000,000 LCC. (information from Coinmarketcap [dot] com) Litecoin, launched way back in 2011, was developed with the goal of addressing major issues plaguing Bitcoin, the dominant Cryptocurrency at that time. It started gaining ground as a result of several factors going their way. For instance, the ability of Litecoin to produce faster block generation speeds, the implementation of the newer scrypt algorithm, along with other factors. Scrypt which is a Proof of Work algorithm, was a new algorithm for miners to prove their computing contrib Continue reading >>

What Is Litecoin Cash And Is It Legit?

What Is Litecoin Cash And Is It Legit?

If youre like most other users in the community, youre probably wondering, What the hell is Litecoin Cash? If you havent yet done your research on this issue, you may even be tempted to think that the same individuals that were behind the development of Bitcoin Cash are attempting to create a hard fork of the Litecoin currency. However, this is not the case. In this article, well give you a brief overview of what constitutes a hard fork, the differences between Litecoin Cash and Litecoin , opinions in the community on this hard fork, the reasons for its creation and what can be expected from this hard fork. For those that are entirely unfamiliar with the concept of a hard fork this section is for you. However, if you already know everything there is to know about hard forks, feel free to scroll down to the next section. Hard forks, in a nutshell, are basically a change to the coins software that lessens some restrictions. Restrictions refer to things such as block size, block time, or other aspects of the coins software. For example, if there is a block size of 3MB, then an increase to 6MB would constitute a hard fork. In an ideal world, full nodes and miners work in unison. Full nodes are all updated and running the latest software, and miners are all mining valid blocks that fit within the rules of the full node. In this setup, if a miner decides to produce a block that doesnt conform to the softwares consensus rules, then that block is automatically rejected as invalid. Typically, when theres agreement in the community, the chain does not need to split in order to implement a hard fork. All full nodes will simply upgrade to the new software, and mining will continue on the original chain. This is called a planned hard fork. However, when there is not agreement, a sp Continue reading >>

Coinomi Announces Support For Litecoin Cash(lcc)

Coinomi Announces Support For Litecoin Cash(lcc)

#fintech s finest #security-first multi-asset wallet for #bitcoin #ethereum #altcoins & #tokens: Coinomi Announces Support For Litecoin Cash(LCC) Litecoin (LTC) holders can now claim their equivalent amount of Litecoin Cash (LCC) via Coinomi Wallet. London, March 3, 2018 Coinomi has announced support for Litecoin Cash (LCC), an enhanced fork of Litecoin which occurred on February 18th. Coinomi wallet users who held Litecoin (LTC) can claim ten times the amount of Litecoin Cash (LCC) via Coinomi wallet. Coinomi will provide this 10:1 claiming service for the Litecoin Cash (LCC) fork, being the first major cryptocurrency wallet to do so. Litecoin Cash will be used as a platform for continued innovation in the cryptocurrency arena. Segwit and Lightning are already supported by the network, with enhanced Segwit support in the pipeline for the next core wallet release. Exciting new features will be introduced over the coming months, with SPV Wallets and Atomic Swaps next in the roadmap. Anyone who was holding Litecoin at the time of the fork is welcome to claim their free Litecoin Cash via Coinomi in 10:1 ratio. The Litecoin Cash team said that it is excited to have Coinomis support the fork, considering the wallets popularity and success in offering hassle-free claiming services for previous forks, and they expect other wallets and exchanges to be coming on board in the near future. For more information on how to claim your LCC please advise this article: Litecoin Cash (LCC) is the first ever Litecoin fork, and the team has chosen to use the SHA-256 algorithm to open up once closed doors for miners to breath life back into outdated asic miners. With a long term vision, LCC aims to remain true to Satoshis ideals whilst bringing blockchain technology into the modern world, i Continue reading >>

Coinbase Has No Immediate Plans To Add Litecoin Cash (lcc)

Coinbase Has No Immediate Plans To Add Litecoin Cash (lcc)

Coinbase has no immediate plans to add Litecoin Cash (LCC) A couple of weeks back the Litecoin (LTC) blockchain split in two to form the new Litecoin Cash (LCC) hard fork. But despite some requests from users , it appears that leading cryptocurrency exchange desk Coinbase has no immediate plans to add Litecoin Cash trading pairs on its platform at least not for the time being. Were always monitoring potential forks from a security/stability standpoint, core developer roadmaps and customers perspective. a spokesperson for Coinbase told TNW.Ultimately, we want to do whats best for customers while still being secure and practical. While the company refrained from providing more details on its plans for the forked currency, it did not rule out the possibility it might get listed on the exchange desk, saying thatit is actively tracking LCCs progress. To give you some background: Litecoin Cash aims to replace Litecoins Scrypt encryption protocol with SHA-256. The tweak will make it possible to leverage old Bitcoin mining hardware to mine LCC, according to the developers behind this undertaking. The Litecoin Cash team has promised to distribute LCC to Litecoin holders in a 10 to one ratio. This meant that if you were holding 10 LTC, you would have been entitled to 100 LCC. Needless to say, users were finding it difficult to decline an opportunity to score some free tokens. As pointed out by Inverse , the only way to claim LCC (assuming you store your LTC on Coinbase) was to move your funds to a private wallet like Litecoin Core or Jaxx . This way you will have access to your private keys and thus to your LCC freebie. The reason is that Coinbase has a strict policy against sharing private keys with users. Our hot wallet/cold storage is not setup in a way where we can release p Continue reading >>

Litecoin - Litecoin Cash Fork

Litecoin - Litecoin Cash Fork

In crypto, in which the world is the wild west in many ways still, go into everything with a healthy dose of caution. This already has enough red flags to make me think its less than reputable. So, if this fork is Feb 9th, do you think I can just wait and see. If it turns out to be legit, will waiting a month be enough time and would I lose I have no idea. I have no stake in LTC and have no interest in LitecoinCash. It will possibly turn into the lol fiasco that BitcoinCash (BCash) is with Ver. Its obviously trading off the name and trying to mirror BCash. But if you make money on it, hey, thats cool too. Im just saying I wont be touching it. Its not nessasarily a scam, but the LTC devs and core team arent the ones who will be developing on this fork. They could end up forming it and then abandoning the project. The thing you have to watch out for it any sites saying or offering to claim your litecoin fork coins by entering your private key is a scam. There is not issue with waiting it out to see if they make something of it. Just never give out your private keys. You and only you need to know your private keys. There are too many signs that it could be a scam, or if anything a legitimate wannabe coin by fans of the coin. What they think it will accomplish I dont know, maybe a higher price from LiteCoin but its odd that anyone would want to fork off of LiteCoin, and in creating a new coin, still call it LiteCoin is very odd- and the first sign that it could be a scam. Also LiteCoins price really doesnt scream a need to fork a coin or even a reason to make a better version like what Bitcoin Cash did previously. Any coin that forks off of Bitcoin or even LiteCoin should be taken with a grain of salt whether they can stay legitimate or even be worth what they intended. Ev Continue reading >>

What Is Litecoin Cash (lcc)? [fundamentals, Exchanges & Wallets]

What Is Litecoin Cash (lcc)? [fundamentals, Exchanges & Wallets]

What Is Litecoin Cash (LCC)? [Fundamentals, Exchanges & Wallets] By: Sudhir Khatwani In: Cryptocurrency Last Updated: Enough of forking Bitcoin . It is time to fork Litecoin now. You heard it loud and clear! It is now time for Litecoin fork and one such hard fork of Litecoin is already out in the market. This fork of Litecoin is called Litecoin Cash (aka LCC). It is no joke or a rumor. Take a look at this tweet with its link which says Litecoin Cash market is updated at CoinMarketCap . Litecoin Cash [ LCC ] (@LitecoinFork) February 21, 2018 By now, I believe, you must have verified my claims. In this article, I will cover these following important points about Litecoin Cash in this write-up: <br /> Can't load widget<br /> The motivation of this fork is that there is no fast, cheap SHA256 coin with good difficulty adjustment. SHA256 miners have little practical choice of hash power destination, and if they do mine blocks theyre being paid in a currency with 10 minute block times. LCC team believes that they can offer an excellent SHA256 coin for general usage. They love Litecoin and wanted to give something to the brave HODLer community. With everyone else too busy forking Bitcoin, they decided that the Litecoin blockchain was a perfect means of initial distribution for their coin. Hence they decided to fork Litecoin. Must read: Dos and Donts in the event of a hard fork . This is for Bitcoin but thesame logic applies to Litecoin fork as well. The fork happened on 18th Feb 2018 at the Litecoin block height of1371111, which is why anyone holding Litecoin at block 1371111 will have 10X as much Litecoin Cash, provided they have their seed/private keys with them. Litecoin Cash [ LCC ] (@LitecoinFork) February 18, 2018 Here are details of the team Continue reading >>

Litecoin Cash: What You Need To Know About Hard Fork On February 18 | Inverse

Litecoin Cash: What You Need To Know About Hard Fork On February 18 | Inverse

Filed Under Bitcoin , Blockchain & Cryptocurrency Litecoin Cash is coming. The hard fork for the fifth-largest cryptocurrency on the market and one of only four tokens offered by popular exchange Coinbase is set to bring faster theoretical transfer speeds and changes to the way new tokens are made. However, Litecoins creator has dismissed the project as a scam. A hard fork is when a project creates a new cryptocurrency by splitting away from an old one, perhaps because they have a better solution to the first ones technical issues or because they have a stronger use case in mind. Bitcoin Cash is a famous example, which split from bitcoin in August 2017 to increase the block size in a bid to speed up transactions. In the case of Litecoin Cash, the goal is to fine-tune some of the issues around Litecoin. It uses the SHA-256 algorithm for the mining process that creates new tokens, unlike Litecoin that uses Scrypt. That means miners can use the application-specific integrated circuit boards they used for bitcoin with the new cryptocurrency. Its target block time of 2.5 minutes is four times faster than bitcoin, while the team claims transactions will be 90 percent cheaper than Litecoin. The tokens main goal is to allow miners with hardware designed for SHA-256 to put their components to good use. The split will occur at block 1371111, which the team estimates will occur Sunday evening. Existing Litecoin owners will receive 10 Litecoin Cash tokens as part of the fork. However, unlike some newer cryptocurrencies that use proof-of-stake, Litecoin Cash will use proof-of-work to mine new tokens. While this has been praised as a secure and fair way of creating new tokens on the network, its use in Bitcoin and other major projects has led to sharp criticism due to its high energ Continue reading >>

"is The First Litecoin Hard Fork A Scam, Sir?" | Interview With Litecoincash Dev Tanner - Smart Options

Is The First Litecoin Hard Fork A Scam, Sir? | Interview with LitecoinCash Dev Tanner in CRYPTOCURRENCY NEWS / INVESTING IN CRYPTOCURRENCIES Interview with Tanner, Development Lead of LitecoinCash A few days back we published a piece about the first Litecoin hard fork LitecoinCash and, oh boy, we have been grilled for that. Due to the not yet confirmed support of exchanges and existing Litecoin wallets, the LCC team describes a way of claiming the free coins on their website by the use of their wallet which needs the private key. As one should know, you never put the private key into any other places like website or wallets, and as Crypto is nowadays wild west, the concerns of the community are not baseless. However, as we researched the topic, we found several facts that made us think LitecoinCash is not a scam, but a team of knowledgeable nerds with profound mining experience and some kind of unfortunate marketing issues. While the slightly hysterical reaction by the community is understandable, we think it is important to stay grounded, take a deep breath and sober look at the facts to provide a balanced view and we think it is just fair to give LitecoinCash a voice to clear the air. So, we sat down with Tanner, the development lead of the Litecoin Cash Team, and asked them all the uncomfortable questions SmartOptions.io: Hello Tanner, thank you for taking the time to answer some questions. I think we should start with some basics to understand the history of LitecoinCash. Please explain how the idea for LCC was born. The purpose of an SHA256 mineable coins sounds somehow nuts nowadays. Tanner [LitecoinCash]: Looking through the CoinMarketCap front page, we were really surprised that there were so few choices for SHA256 miners. We couldnt find a single coin that use Continue reading >>

Litecoin Cash - The First Litecoin Fork

Litecoin Cash - The First Litecoin Fork

LONDON, Feb. 12, 2018 /PRNewswire/ --Litecoin Cash has announced that the countdown has begun towards the release of a new cryptocurrency that will be born from a hard fork of Litecoin (LCC). At Litecoin block 1371111, Litecoin Cash (LCC) will be created. Everyone holding Litecoin will automatically receive 10 Litecoin Cash for every Litecoin they own. While Litecoin has always been mined with Scrypt, Litecoin Cash is a proof of work cryptocurrency securing the network using the SHA256 hashing algorithm. This allows an extension of life for older Bitcoin mining hardware, which is no longer powerful enough to mine Bitcoin; the lower anticipated difficulty of mining Litecoin Cash will put such legacy hardware to effective use. Litecoin Cash has significant advantages compared to the other main SHA256-mined coins, Bitcoin (BTC) and Bitcoin Cash (BCH). While those currencies both have a 10-minute block time, Litecoin Cash's 2.5-minute block target allows much faster transaction confirmation. Compared to Litecoin itself, the new fork features superior mining difficulty retargeting, via the proven DarkGravity algorithm used by Dash. Transaction fees are also reduced by 90 percent to provide incentive for real-world use. In order to ensure a fair launch, Litecoin Cash implements slow-start control to block rewards and intend to pre-release a bootstrap file to prevent a blockchain download race once the wallets become available (slated to happen shortly after the fork block). The network will use a new address prefix and replay attack prevention to eliminate inter-chain issues and minimize user confusion. The markets have become accustomed to Bitcoin hard forks over recent months, but Litecoin Cash brings the concept to a new space and potentially a new set of users. As such, Continue reading >>

Litecoin Cash Team Announces Successful Hard Fork

Litecoin Cash Team Announces Successful Hard Fork

Litecoin Cash team announces successful hard fork On Sunday the Litecoin Cash team announced in its Twitter account about a successful hard fork of Litecoin that resulted in the introduction of a new cryptocurrency. Already today the holders will get a new digital wallet for coins, distributed at 1:10 ratio. The project has not resonated well among the crypto community and media, owing to the lack of information, obscure team and a tenfold bonus. Earlier, Litecoin founder Charlie Lee in his Twitter account called any fork project on Litecoin a scam and profiteering at the expense of a well-known virtual currency. He called on users to steer away from any LTC transactions for a few days after the fork to reduce chances of losing funds. The new cryptocurrencyaims at faster block creation (up to 2.5min) than Bitcoin (10 min), shifts to SHA256 algorithm (Litecoin is based on Scrypt). Litecoin has the same time for block generation, 2.5 min, but Bitcoin mining hardware cant be used for Litecoin mining. Litecoin Cash creators say that new cryptocurrency enables a new use for previously obsolete Bitcoin mining hardware. Cryptocurrency enthusiasts do not always see eye to eye on the issue of scalability in the bitcoin blockchain. The low amount of transactions processed during congested periods remain a stumbling stone in the network. Some developers have proposed updates to solve the problem. Last year an upgrade, called SegWit2x , could take place, but was shelved after it fell short of sufficient backing from the crypto-community. Continue reading >>

How To Buy Litecoin Cash: The Essential Guide

How To Buy Litecoin Cash: The Essential Guide

The Differences: Litecoin Cash, Litecoin, and Bitcoin Litecoin went through a hard fork at block 1371111 on Sunday evening, resulting in the creation of Litecoin Cash (LCC). There was plenty of noise in the lead up to the fork, with Litecoin founder Charlie Lee and others from the Litecoin community calling the announcement of the fork a scam. Regardless, Litecoin rallied 60% to a week high $237.72 on Thursday, as investors moved into Litecoin in anticipation of receiving 10 Litecoin Cash coins for each Litecoin held in a Litecoin wallet at the time of the fork. Now that Litecoin Cash does in fact exist and is already tradable, there are some distinct differences between Litecoin and Litecoin Cash, with the Litecoin Cash team looking to deliver a cryptocurrency that is miner-friendly, whilst tweaking some other key attributes. Key characteristics of Litecoin Cash include: Litecoin Cash will be run with Bitcoins SHA256 algorithm as opposed to Litecoins Scrypt algo. The use of Bitcoins SHA256 algo provides prospective miners to mine for Litecoin Cash, with the SHA256 proof-of-work algorithm allowing Litecoin Cash mining using old and obsolete Application-Specific Integrated Circuits (ASICs) Bitcoin mining hardware. The total supply of Litecoin Cash is 840 million LCC coins, far greater than Litecoins 84 million coins. Litecoin Cash has a different difficulty adjustment to Litecoin, with Litecoin Cash seeing the mining difficulty adjusted with every block, using Evan Duffields DarkGravity V3 algorithm from Dash, compared with Litecoins approximately 3.5 days. Litecoin Cash transaction fees are reported to be 90% cheaper than Litecoins fees. The use of the DarkGravity V3 algorithm provides a more predictable block time environment, supporting a target block time of 2.5 min Continue reading >>

Deep Divisions Over Litecoin Cash Fork

Deep Divisions Over Litecoin Cash Fork

When cryptocurrencies fork, their blockchains are not the only things that divide. As was witnessed when Bitcoin Cash forked from the original, the community and developers were also split and still are. A similar thing is occurring with Litecoin and an impending fork is due that its creators are claiming is a scam, and nothing to do with them. Litecoin founder Charlie Lee has been extremely active lately posting warnings on social media about a forked version that he does not support. Lees public outcry comes as a fork for a competing crypto dubbed Litecoin Cash draws nearer. There is currently nothing to stop anyone making their own cryptocurrency or forking off from an existing blockchain. Countless new iterations of Bitcoin have emerged in the past few months from GOD to DARK. People can get scammed if they dont do their own research and blindly follow the streams of dross that pollute social media platforms. Governments are anxious to regulate the industry to prevent these sorts of things from happening. On the surface Litecoin Cash appears to be just another one of these, riding on the name to garner interest. It comes with a plan to increase the block time, enable SHA256 mining, and offer 90% cheaper transaction fees than its parent altcoin. The fork will happen at block 1371111, which is around February 18 or 19. Charlie Lee and the Litecoin team however want nothing to do with it; PSA: The Litecoin team and I are not forking Litecoin. Any forks that you hear about is a scam trying to confuse you to think it's related to Litecoin. Don't fall for it and definitely don't enter your private keys or seed into their website or client. Be careful out there! Charlie Lee [LTC] (@SatoshiLite) January 30, 2018 To win over investors and traders the forkers are offering fr Continue reading >>

Litecoin Cash [#lcc]: The #sha256 #litecoin Fork

Litecoin Cash [#lcc]: The #sha256 #litecoin Fork

Fork Block - At block 1371111, Litecoin Cash hard-forked away from the Litecoin blockchain. 10:1 Claim Ratio - For every 1 LTC you held at the fork block, you can claim 10 LCC. SHA256 Mining - After the fork block, Litecoin Cash switched to SHA256 proof-of-work hashes. This enables a new use for previously obsolete Bitcoin mining hardware. Network Resilience - Mining difficulty is recalculated every block, using Evan Duffield's proven DarkGravity V3 algorithm from Dash . This provides more predictable block times as well as network protection from multipool hopping. Optimised for the Real World - Target block time of 2.5 minutes gives 4 times the transaction bandwidth of Bitcoin, while transactions are 90% cheaper than Litecoin. Slow-Start Control - To prevent dominant early miners having an unfair advantage, block rewards will start at 0.25 LCC and grow to 250 LCC over the first 2000 blocks after the fork. The first 24 blocks after the fork will be mined at minimum difficulty. After this, DarkGravity will adjust the difficulty based on observed block generation time. The 250 LCC block reward (equivalent to 25 LTC) will halven at the same chain heights as Litecoin. Small Premine - An equivalent amount to less than 1% of circulating money supply (less than 0.65% of total money supply) at fork time was paid to a development fund. There is no fast, cheap SHA256 coin with good difficulty adjustment. SHA256 miners have little practical choice of hashpower destination, and if they do mine blocks they're being paid in a currency with 10 minute block times. We believe we can offer an excellent SHA256 coin for general usage. We love Litecoin, and wanted to give something to the brave hodler community. With everyone else too busy forking Bitcoin, we decided that the Litecoin blo Continue reading >>

Litecoin Cash Announce Their Plans For World's First Cryptocurre - Ktvn Channel 2 - Reno Tahoe Sparks News, Weather, Video

Litecoin Cash Announce Their Plans For World's First Cryptocurre - Ktvn Channel 2 - Reno Tahoe Sparks News, Weather, Video

Litecoin Cash Announce Their Plans for World's First Cryptocurre - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video Litecoin Cash Announce Their Plans for World's First Cryptocurrency SpaceDrop A weather balloon will be released from a launch facility near Sheffield, England. Slung underneath the balloon, will be a net containing 400 "golden tickets" each worth 400 Litecoin Cash (LCC). LONDON - May 9, 2018 - ( Newswire.com ) The balloon will rise to an altitude of over 32km (100000 feet). At the apogee of the ascent, a release mechanism will allow the tickets to disperse. They will reach speeds in excess of 300km/h before slowing down as air resistance increases. It's anticipated that the golden tickets could take around an hour to reach the ground, and scatter over a radius of several hundred kilometers, so those in Great Britain, Ireland, France, Belgium or Netherlands should watch the skies for a golden ticket! A 360-degree camera on a bespoke mount engineered by Sent Into Space, will capture the release from a truss facing the payload, and a video will be made available as soon after the event as possible. The Litecoin Cash team envisage the spacedrop as an end of season grand finale to round off a successful first two months in which the fork was launched, core wallets released, a community has been fostered and grown, SPV desktop wallet and server software has been ported, and a whitepaper released. Developer Iain "Tanner" Craig from the Litecoin Cash team states: "We're really proud of what we've achieved from the first phase of our project, and completing our desktop light wallets seemed like the perfect time to celebrate everything we've accomplished to date before refocusing our efforts for the next chapter. We also wanted to reward our awesome communi Continue reading >>

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