ADVERTISEMENT
NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Altcoins

Towards LTC Global Adoption, Litecoin Foundation Introduces Crowdfunding System

by Solomon Odunayo
November 22, 2019
in Altcoins, Cryptocurrency
0
Charlie Lee Gets Motivated as Litecoin (LTC) Gets Displayed during Dolphin vs. Patriots Match
0
SHARES
28
VIEWS
Share on FacebookShare on Twitter

The Litecoin foundation has made a helpful decision to the growth of the digital currency by introducing a crowdfunding system, purposely to serve as means of raising funds for projects capable of promoting the Litecoin community and towards the realisation of LTC adoption, a recent update infers.

Since inception, Litecoin (LTC), the fifth largest digital currency by market capitalisation, has been challenging perfectly well to the realisation of its global adoption. The Litecoin foundation has actually been the brain behind some notable projects meant to move the community forward.

Litecoin Foundation Introduces Crowdfunding System for Strategic Expansion

In the quest to make Litecoin development more transparent, effective, efficient and user-active, the Foundation that serves the interest of promoting the decentralisation of LTC is moving to launch a project-driven community crowdfunding system, that is comparable to the one initiated by Monero Team.

According to the update about the newly introduced system, the community will propose project ideas. Then, debating on the proposed project will be allowed, so as to choose the supposed best project ideas.

After the proper ideas selection, project leaders will then call for donations from the community members. There will be waiting period meant for the project’s escrow account owned by the Foundation to be satisfactorily funded, which will precede the commencement of the chosen project.

The reports of the projects’ progress will be related to the community at each milestone, as the Litecoin Foundation makes the contributed funds available as arranged.

The project will be termed concluded as soon as all milestones are achieved and funds released. According to the update, in order to cut cost, Monero’s code, design and some other modifications will be adopted.

Past Moves of Litecoin Foundation and Litecoin Core Team in Moving the Community Forward

Both the Litecoin foundation and the Core Team have so far performed excellently well in terms of promoting the community. SegWit was activated in 2017 aside the consistent info about Litecoin Core repository.

Followed by that, the Team began to collaborate with notable tech startups such as LND, for the efficient performance of lightning network on Litecoin. Update has it that discussion is ongoing with the community about safe & confidential transactions in terms of technology and regulation. There is also active discussion about MimbleWimble.

Furthermore, the emergence of Litecoin Foundation and its activities have been a contributing factor to achieving the aim of pushing for adoption of Litecoin (LTC) and to prove that its use cases make it a decentralised currency.

The Foundation has been able to effect a number of resourceful and working decisions, fundraising and management. However, the tremendous support from Charlie Lee, the founder and CEO at Litecoin and others, in term of financial backup cannot be thrown under foot – the report noted.

In order to enhance the popularity and global adoption of Litecoin (LTC), the Foundation reported that it is planning fresh Litecoin summit in 2019, scheduled to hold in Las Vegas, United States.

Litecoin (LTC) Situation in the Market

Litecoin (LTC) has started regaining its price deficit after a huge loss it experienced 24 hours ago. At the time of filing this report, LTC is trading at $67.57, with about 3% price upsurge on 24 hours basis.

Tags: Charlie LeeCharlie Lee Litcoin LTCLitecoinLitecoin (LTC)Litecoin AdoptionLitecoin FoundationLTCLTC News
No Result
View All Result

Highlights

Elon Musk Loaded Up In Dogecoin before Pumping Bitcoin – Peter Schiff

Crypto Investor Explains Why Cardano will Soon Topple Ethereum

Cardano’s IOHK Rebrands, Enters Final Stages of a Large Government Contract

Analyst Explains why Bitcoin Price Could Crash to $6,400

Online Search for “Dogecoin” Surpasses “Bitcoin” in United States

PayPal Q4 Earnings Report Shows Users More Active after Buying Cryptocurrencies


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us