Litecoin is one of the oldest cryptocurrencies in the industry. However, this title does not prevent the project still remain relevant and please cryptoendoliths new updates. Very soon, the Litecoin development team will release the next client update Litecoin Core 0.17. The main advantage of the updated software will be a tenfold reduction in the transaction fees of crypto-currencies.
Why Litecoin is profitable?
This information recently appeared in the official Medium account of the Litecoin Foundation. According to programmers, innovations in Litecoin 0.17 Core will greatly enhance the usability of the coin in the future.
At the moment the average size of a fee per transaction equal to 0.001 LTC per kilobyte, or 0.05 dollar. After the integration of the upgrade fee will fall to 0.0001 LTC per kilobyte or 0.005 dollar. Last time they were on so low level in 2015.
Cryptomnesia James Gerrard commented on the situation.
Committees is practically nonexistent at the moment. I sent a little LTC yesterday and was surprised by the speed and cheapness.
But user’s nickname BitcoinForChumps have another opinion.
It would be good news if people actually use Litecoin in the real world. The coin is still more expensive and slower DASH.
The main factors that affect the size of the commissions is the duration of a block and its size. As the size of the unit the LTC is relatively small and the blockchain is even empty blocks, the developers have managed to reduce spending on the transaction.
However, Reddit is also talking about the fact that the innovation Litecoin Foundation will only affect the mining pools. Some of them are already working with reduced commissions. The weight of transactions of investors, traders and ordinary users rarely exceeds 1 kilobyte, so that they even now paying a very low fee.
Information prepared in AMBCrypto. More interesting facts about the blockchain and the crypt can always be found in our cryptodata.
SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM TO LET EVERYONE KNOW.