#1 Source for BlockChain News

Category archive

litecoin news

Litecoin Transaction Fees | Reducing in Next Core Release

Litecoin transaction fees are set to be lowered by ten times in the next Core release.

The team behind the seventh biggest coin by market cap revealed the news via a Medium post earlier today.

Litecoin Transaction Fees Set to Lower

Currently, the average Litecoin transaction fee equates to about $0.05 per KB. But the network’s upcoming release of Litecoin Core 0.17 is going to lower this by a factor of 10. With the new changes, the new fee should equate to $0.005, or half a cent.

At that price, Litecoin transaction fees will mimic 2015 levels.

Increasing Prices

The core developers made the decision to combat the rising price of Litecoin transactions fees. Transactions could cost over $0.10 and even hit just over $1.00 on occasion.

Core Lead Developer Adrian Gallagher elaborated on the move saying:

“To encourage more adoption and usage of Litecoin, I think lowering the fees are [a] good thing. We’re not even close to block limits and the block size on disk is pretty small (20GB) relative to other coins. Technically people can already adjust their fees right now to the one above because of the more relaxed min relay/dust relay fee. I also don’t think it will be too much longer before this bear market is over (3–6 months) so it will lay down the foundation for a fee rate which we can grow into proactively rather then [sic] re-actively.”

>> India’s Largest Bitcoin Exchange, Zebpay, Relocates to Malta

A Bit about Transaction Fees 

Transaction fees depend on the space used in a block to register the transaction. The fee is like paying for that space in the block and gives miners an incentive to process your transaction.

Processing fees begin to increase when demand outweighs space. Litecoin still has a lot of space in its blocks, and so there is no need to ‘bid’ for transactions. This is why Litecoin transaction fees can be so small.

In traditional fiat currency transactions, fees are dependant on the amount of money being sent. The larger the transaction amount, the larger the fee.

But crypto transactions are different. The larger the transaction data, the larger the fee. Transaction data means the number of outputs and inputs or addresses on the network where the crypto is moving to and from. Therefore, transaction fees can differ and someone sending a small amount, may actually pay more in transaction fees than someone sending a larger amount.

Featured Image: Depositphotos/© sdecoret

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Ripple (XRP) and Litecoin (LTC)

The cryptocurrency market is currently sitting just above $210 billion this morning. While mainstream media is heavily focused on cannabis at the moment, blockchain companies are still making moves in the background. Today, we’ll take a closer look at Ripple (XRP) and Litecoin (LTC) and the latest advancements with the two projects.

Ripple (XRP)

Ripple and XRP are often confused as the same and are often grouped together because what Ripple the company does ultimately affects/influences the price of XRP.

Less than a month ago, Ripple revamped its website to solely focus on RippleNet. RippleNet has just expanded its xRapid platform that uses XRP as liquidity for financial institutions. While its xCurrent platform currently has over 100 banks and financial institutions signed up and testing its XRP-less platform, Ripple’s goal is to eventually transition these institutions to RippleNet.

Ripple’s press release explained why using XRP is crucial for cross-border transactions:

“Pilots in the crucial U.S. to Mexico remittance corridor using XRP as a digital asset demonstrated savings of 40-70% compared to traditional costs. At the same time, it helped lower settlement times from two to three days to just over two minutes.”

At press time, XRP is currently trading at $0.465 a coin, up 0.34%, in 24 hours.

>> Small Bitcoin Fee: Only 10 Cents for $194 Million on the Bitcoin Network

Litecoin (LTC)

On Tuesday, LTC began trading on Gemini.

Gemini is the cryptocurrency exchange owned by the US Olympian Winklevoss Twins. Gemini is currently the 42nd largest cryptocurrency exchange by its total trading volume on CoinMarketCap.

BTC/USD pairs still equate for over 80% of the exchange’s volume in the last 24 hours. So far, LTC/USD only makes up 0.73%, with a volume of $214,836. On the 15th when the announcement was made about LTC being launched on Gemini, LTC surged 10% in an hour but quickly corrected.

The Litecoin Foundation also just celebrated its 7th birthday on the 12th.

According to CoinMarketCap, LTC is currently trading at $53.00 a coin, down -0.40%.

Check back in for more Ripple and Litecoin news!

Featured Image: Depositphotos/© adriantoday

If You Liked This Article Click To Share

http://platform.twitter.com/widgets.js
!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Cryptocurrency Market Fall | EOS, Litecoin (LTC), & Tron (TRX)

As we start out the fourth week of August, we see most of the cryptocurrency market fall. Bitcoin (BTC) is trading just below $6,500 and Ethereum (ETH) has once again dipped below $300. This weekend, the market took a slight rise and almost peaked over $225 billion, but has since been corrected.

Let’s take a look at EOS, Litecoin (LTC), Tron (TRX), and their latest project updates today.

Cryptocurrency Market Fall – EOS

For the third month in a row, EOS has been given the top rating spot on China’s national blockchain ratings. The CCID Research Institute in China gives out blockchain ratings once a month and EOS has been their top choice the past month and a half.

The top ten ratings are as follows:

  1. EOS
  2. Ethereum
  3. Komodo
  4. Nebulas
  5. NEO
  6. Stellar
  7. Lisk
  8. GXChain
  9. Steem
  10. Bitcoin

This weekend, EOS regained its spot as the fifth largest cryptocurrency, as Stellar briefly passed the cryptocurrency for a few days.

At press time, EOS is trading at $5.13 a coin, down -2.85% in 24 hours.

Cryptocurrency Market Fall – Litecoin (LTC)

There hasn’t been any big news regarding Litecoin lately. There have been no new partnerships or updates to the Litecoin network.

The first Litecoin Summit will be held in San Francisco mid-September.

Litecoin’s founder, Charlie Lee, will be speaking at both days of the event and there will be a meet and greet after day 2.

Also, eToro published its own market research on Litecoin recently. The research document summarized Litecoin’s 2018 price drop by saying:

“Given that Litecoin has an established and stable working product, as well as significant adoption, this bear market of the whole cryptocurrency industry could have lead to Litecoin being oversold.”

Cryptocurrency Market Fall – Tron (TRX)

Just recently, the Tron Foundation made the official announcement that it had acquired BitTorrent and not all Tron enthusiasts are thrilled. Even some BitTorrent investors weren’t happy with the acquisition either. However, what’s done is done.

Bram Cohen, the inventor of BitTorrent, has also officially stepped down from his role within the company fairly quietly but people have taken notice.

According to the Next Web:

“TorrentFreak reports that Bram Cohen has severed ties with BitTorrent Inc, the company that he founded in 2004, after inventing and launching his Torrent protocol three years earlier. There has been no official announcement from TRON or the BitTorrent inventor on this development. TorrentFreak received an auto-response after trying to reach out to Cohen’s BitTorrent email, it became clear that the address was no longer active.”

>> Crypto Daily News: Bitcoin Cash (BCH) Futures Launched & 21-Year-Old Charged with Bitcoin (BTC) Money Laundering

Frankly, this makes total sense as he sold over his company to Tron for over $140 million and can’t expect to have control of what happens with his company.

At press time, Tron remains the 12th largest cryptocurrency by market cap and is trading at $0.0218 a coin, down -1.97% in 24 hours.

Featured Image: Depositphotos/© Photoredaktor

If You Liked This Article Click To Share

http://platform.twitter.com/widgets.js
!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Litecoin News | Meet Charlie Lee at the Litecoin Summit!

In the latest Litecoin news, Charlie Lee, Litecoin (LTC) founder, will be present at the very first Litecoin Summit. Long-time project enthusiasts will have the chance to meet him for only $49.

Litecoin News: Meet Charlie Lee

The Litecoin Summit will be a held on September 14th and 15th in the South San Francisco Conference Center. The Charlie Lee meet-and-greet will only be on Day 2 of the event, at the very end. A Litecoin representative on Twitter states that the conference is expecting around 3,000 guests on both days.

You can pay for tickets to the event with either LTC or USD.

Crypto Investor Pushback

Some investors responded to the news and were curious where their $49 was going.

Others decided to troll the current price of Litecoin and Charlie Lee.

Another said:

This next user didn’t hold anything back with this tweet:

Litecoin (LTC) Price

At press time, LTC is trading at $63.91 a coin, up 0.83%, in 24 hours. The coin remains the 7th largest cryptocurrency with a market cap of $3.69 billion. Litecoin is sitting just below Stellar (XLM) which has a market cap just above $4.03 billion.

For the week, LTC is down -16.51% and for the month, the coin is down -21.68%.

Litecoin hit its all-time high of $338.85 a coin back on December 18th, 2017. Since its peak, the coin has dropped -81.13%. Litecoin’s current price is what frustrates many of the newbie crypto investors that got in around when the price was high.

>> Crypto Exchange Ethfinex: Vote for the Next Coin Going on the Platform!

Featured Image: Twitter

If You Liked This Article Click To Share

http://platform.twitter.com/widgets.js
!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Litecoin Joins TokenPay | Joint Venture to Purchase Shares in WEG Bank

Litecoin joins TokenPay: Two days ago, the Litecoin Foundation announced that it had entered an extensive strategic partnership with TokenPay and acquired nearly 10% of the German bank WEG Bank.

Litecoin Joins TokenPay

The press release explains:

“Today, this 9.9% stake in WEGBank was further transacted to the benefit of Litecoin Foundation in exchange for a broad and comprehensive marketing and technology service agreement to benefit TokenPay and its related cryptocurrency and business operations. As a result of this partnership, TokenPay and Litecoin combine as a leading force in creating and delivering to the market modern consumer-driven crypto FinTech solutions.”

Charlie Lee, founder and now managing director of the Litecoin Foundation, states that he is looking forward to the partnership and wants to “make it simple for anyone to buy and use Litecoin.”

TokenPay was started back in 2015 and has built its own blockchain protocol and native token (TPAY) to facilitate stable fiat-to-crypto transactions.

LTC Investors Respond

Some investors aren’t too thrilled that TokenPay has an ongoing partnership with Verge (XVG) and now that Litecoin is involved, they are linked.

Others aren’t happy that the Litecoin Foundation is now tied to a bank.

Others aren’t impressed with the size of the bank they acquired.

The responses weren’t all negative though. Many LTC enthusiasts piped up and sang praises on the new deal.

What are your thoughts? Do you think ‘Down with all banks,’ or do you agree with the Lee/Garlinghouse approach of working with banks for takeover? Leave your opinions in the comment box below!

>> Toyota, Ford, and General Motors (GM) All Exploring Blockchain Technology

Featured Image: Depositphotos/© sdecoret

If You Liked This Article Click To Share

http://platform.twitter.com/widgets.js
!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Go to Top
%d bloggers like this: