Charlie Lee invited miners to donate 1% of the mined litecoins for the development of the project

IS LITECOIN CRYPTO SILVER litecoin pros and cons

Due to the depletion of the Litecoin Foundation’s financial reserves, the creator of the cryptocurrency Charlie Lee invited miners to voluntarily donate 1% of the reward for closing blocks for the development of the project.

By to him, if each miner / pool does this, then the organization will be able to receive about $ 1.5 million per year, which is seven times the amount of its current annual expenses. Therefore, even if a small part of the community is generous enough, the fund will be able to continue to effectively channel funds for the development of blockchain protocols and LiteWallet crypto wallet, holding summits and commercial promotion of Litecoin..

Charlie Lee invited miners to donate 1% of the mined litecoins for the development of the project

Charlie Lee noted that donations should only be on a voluntary basis, otherwise it will not be correct. By adding, that the joint mining of Litecoin with Dogocoin and other Scrypt coins allows miners to receive more than 105% of the reward for each block, therefore 1% is a relatively small amount to fund the project.

The founder of the cryptocurrency is also considering various options under which miners will be able to independently choose which project they donate funds to, and asked the community to express what they think of this idea in general..

Charlie Lee invited miners to donate 1% of the mined litecoins for the development of the project

In addition to the depletion of the development fund reserves, the situation is also aggravated by the continuing decline in the litecoin rate, which even last year’s halving.

text: Ivan Malichenko, photo: ccn

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