Litecoin continues its August bonanza as lead developer drops hints on new Core update

Charlie Lee founded Litecoin, which is considered as the ‘digital silver’ compared to Bitcoin’s ‘digital gold’ has been recognized as a cryptocurrency with many future applications. The cryptocurrency’s user base and community have also been voracious supporters of the asset, going the extra mile to ensure the rest of the industry knows about LTC’s benefits.

Post the Litecoin halving that took place on August 5th; the cryptocurrency has undergone rapid transformations in its core code; a phenomenon also brought to notice by Charlie Lee. The Litecoin blockchain has also had no shortage when it comes to latest updates and developments, and a recent tweet by Litecoin Lead Developer Adrian Gallagher proves that very fact. Gallagher had put up a photo of a code snippet, adding:

“Litecoin Core 0.18.1 coming together nicely!”

The update has been one which the community has been waiting for, with several users congratulating and thanking the LTC lead developer for the heads up on the new update. Litecoin’s expected core update comes in the wake of the release of Bitcoin Core 0.18.1 which occurred on August 9th.

The latest Litecoin core update is set to bolster the existing healthy Litecoin transaction rate, with sources claiming that just on a single exchange, users were able to process more than 18,000 peer to peer atomic swaps. Block DX, the exchange in question reported that Litecoin atomic swap clocked in more numbers than any other cryptocurrency.

The month of August looks to be positive for the fifth largest cryptocurrency on the charts, which was trading for $75.34 at press time. The August 5th Litecoin halving resulted in the LTC block reward being slashed to 12.5 LTC from the earlier 25 LTC. Charlie Lee, the founder of Litecoin, had tweeted:

“504 blocks have been mined since the halving. This is 1/4 of the way to the next diff change. 21.65 hrs has elapsed since the halving. Normally on average, it takes 21 hrs for 504 blocks. This means 97% of pre-halving hashrate still mining LTC.”

Charlie Lee was also in the news recently when he took a dig at CEO Roger Ver and Bitcoin Cash. He had stated that the founder of Bitcoin had a ‘romantic relationship’ with Ver and that they recently broke up. He jokingly cited this as the reason why Bitcoin ‘stopped supporting BCH’.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication ( holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Be the first to comment

Leave a Reply