Litecoin Creator Proposes Miners to Donate 1% for Ecosystem Development
Main page News, Altcoins

Charlie Lee, the founder of Litecoin, the 7th largest cryptocurrency by market cap, has proposed that miners donate 1% to finance the development of the project. He said on January 24 through Twitter:

"I think a better way to fund development is mining pools voluntarily donate a portion of the block reward.How about Litecoin pools donate 1% (0.125 LTC) of block rewards to the @LTCFoundation?"

If the proposal is eventually approved, the project would have enough funds to continue with its development.

He has added:

"At current LTC price, 1% of block rewards is about 7x Litecoin Foundation's yearly expenses. Even if a small percent of miners are generous enough to donate, the foundation would be able to put it to good use by funding developers to work on Litecoin Core, Mimble Wimble, LiteWallet, LN wallet, hosting the yearly Litecoin Summit, and pushing for adoption of Litecoin by merchants and users."

It must be noted that donations are voluntary.

We know which bitcointrader official website is best. Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error