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Litecoin Founder Charlie Lee: LTC Can Handle Sudden Hashrate Decrease Much Better than Bitcoin

  • Yuri Molchan
    📰 News

    Charlie states that LTC blocks are produced much faster than those of Bitcoin and that LTC can handle hashrate troubles easier than the BTC network

Litecoin Founder Charlie Lee: LTC Can Handle Sudden Hashrate Decrease Much Better than Bitcoin
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Charlie Lee has been in the focus of media attention recently after clarifying that Litecoin still receives active developers’ support and after conducting a Litecoin halving about a week ago.

Now, the LTC creator states that in key issues Litecoin works much faster than Bitcoin and can easily handle big hashrate problems, unlike, BTC, should they appear on the horizon.

‘LTC blocks are 4 times faster than BTC’s’

After the LTC halving conducted recently which Charlie Lee proudly declared to be a success, he now continues to talk about the positive sides of Litecoin’s ‘after-halving’ life. 

Once the halvening was done, Charlie Lee tweeted that the production of blocks was going faster than initially planned, since he expected many miners to switch off their machines and let the hashrate drop. That never happened, though.

Now, Lee tweets that LTC blocks are being produced 4 times faster than those of BTC and that the Litecoin chain can easily handle any major hashrate decrease.

However, in the comment thread Lee admits that if anyone were to send the same amount of funds through LTC and BTC, they would have to wait for the LTC transaction to confirm much longer than on the Bitcoin network.

Image by Twitter
Image by Twitter

The Litecoin founder points out that he has discussed an extreme situation, when speaking of a 75-percent drop in hashrate. This time, he says, after the halvening, LTC lost only 15 percent of it.

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Charlie Lee denies rumors of LTC dumped by devs

Recently, a video was published on YouTube with a Twitter post to follow with both providing evidence that Litecoin has not been getting any support from developers in quite a while already.

However, recently Charlie Lee denied that information, saying that Litecoin development is taking place as before and that the community has nothing to worry about.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
    📰 News

    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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