Litecoin founder Charlie Lee continues to be the Litecoin Foundation’s funding, in spite of the rumors that Lee is in serious financial sit.
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Charlie Lee on Litecoin (LTC) Foundation
Compared to the news site Coindesk, let Lee know that the financial situation of the foundation, as has been touched on by the cryptowinter as the other sets. Since 2017 the donation from the Lee’s are good for 80% of the funds of the association.
A rather unhealthy situation, as is the development of a Litecoin is dependent on Her.
The goal is, of course, in order for the Foundation to her mouth to stop from donations, sponsorships and the sale of merchandise. Until then, I remain, the foundation for the financial support, as long as it is necessary.
Charlie Lee, founder of Litecoin
According to the director, Xinxi Wang, the Foundation’s donations in the first half of 2019 have fallen sharply. Wang looked at this since april, however, weather is picking up.
Cryptowinter
“We do not think that there is a correlation between the number of donations and a lot of enthusiasm for the project, according to Wang, compared to the Chinese news site is XCong.
“We do not have an active donation being promoted in quarter one. Also, the price of LTC is low, thus allowing the same number of donations, leading to a lower amount. In quarter two, we have a few of the hundreds of thousands of dollars in donations was received.
Charlie Lee, Litecoin
The organization will need to save on its personnel costs, but staff members can take pleasure in a lower rate of pay. On the contrary, they offered themselves to it.
According to Lee, are going to be the a good number of partnerships, such as Litecoin, this was recently closed by the city’s Football club Miami Dolphins.
Litecoin halvening
Litecoin is little more to come. The price of LTC has significantly increased during the first half of 2019. This was in anticipation of the reduction of the blockreward for Litecoin miners.
The reward is a 5-August, down from a 12.5-LTC 25 LTC per block. Traders have speculated at a higher price.
However, since then, the share price dropped sharply as the computing power of the network. Reportedly, an unknown number of miners after the halvening gave up because of mining, the less profitable it is. It is reasonable to assume that a lot of miners switched over to a different Proof-of-Work blockchain.
Litecoin (LTC) price list, source: Cryptocompare
Mimblewimble, and anonymous transactions
Litecoin is also looking at privacy issues will be added to the blockchain. They have entered into a collaboration with, among others, go through in Israel. According to the founder of the Alexander Zaidelson of the Beam, there is an open dialogue between the two teams. “Especially in the field of architecture and interior design, we offer each other help.
Also works for Litecoin, along with the Grin-maker, David Burkett for the protocol design.
Lee was recently in the news, with the investment in the security, the token offering of the INX token.
In the following, a new episode of the Most of Crypto Friends are going to Lee in the Litecoin blockchain is going to be working with the Mimblewimble it.
New Podcast episode: Bitcoin maximalisten of the tokens in Ethereum, a new Satsohi, and more
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