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

Libra Coin News
Tue, 08/13/2019 - 08:09
Yuri Molchan
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
Cover image via

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

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.

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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