Is the Litecoin Mining Community ready to fund Litecoin Further development?

This morning of January 25th 2020, Charlie Lee creator of Litecoin raised a very interesting proposition on Twitter. One that evolves around funding. Talking about money is often a polemic topic and as expected he immediately received a lot of feedback from the community. And that's probably what he was hoping for. 

  On the Tweet he opens up a topic that focuses on Litecoin further development, but most importantly how to acquire the funds that will guarantee sustainability of Litecoin Foundation and its project creators. Projects and proposals that are aimed to enhance and create new  protocols, side chains and solutions that are often fit for Litecoin and Bitcoin. In addition, similar to other cryptocurrency projects Litecoin needs to enhance its marketing strategies in a competitive fashion to boost the mass adoption movement around the world. In order to that the Foundation needs funding, money that will be used as Charlie suggested, for public good. 

  Let's take a peak i…

Ethereum Classic (ETC) currently suffers a 51% hash attack and double spending is approaching $ 500,000 dollars.


According to Coinbase website today, January 5th 2019, a deep reorganization of the Ethereum Classic blockchain chain was detected. That included a double expense of over $400 thousand dollars. To protect client funds, Coinbase immediately stopped the movement of funds in the ETC blockchain.

Coinbase will continue to monitor network status and more information will be announced on this page.

Charlie Lee, the creator of Litecoin, commented on Twitter about the event. And warn of the dangers of investing in coins that are not dominat in respect to mining algorithm .




In the case of Ethereum Classic, the cost of an attack that causes 51% network hash rate control is only $ 5,000 per hour. A very low cost when compared to the cost of attacking Bitcoin, Litecoin and Ethereum.

According to www.crypto51.app the hardware cost to attack Bitcoin network at its cheapest would be of $ 318,603 dollars. A much higher cost of attack than ETC, making the possibility of attack less feasible. Respectively, the cost of an Ethereum attack is $ 97,376. Also, to attack Litecoin the cost would be $ 22,074 per hour at the moment.

To stay current at the cost of an attack for each currency crypto and also see the percentage of NiceHash-rate of each one go to the Crypto51 site and find an updated list.




By: MamãeCrypto

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