Litecoin Core v0.17.1 to be Available

One of the key changes is minimal transaction transfer fee reducing to 0.0001 LTC/kB
08 May 2019   967

Litecoin developers have introduced a new version of Litecoin Core v0.17.1 client. Among the main improvements are reduced commissions and advanced privacy settings.

The minimal transaction transfer fee was reduced to 0.0001 LTC / kB - that is, recording a transaction in a block will cost $ 0.15. The developers note that this advantage will be appreciated by users interested in opening channels of the Lightning Network.

The -avoidpartialspends flag has been added to the new version of the client, which allows to avoid partial expenditure of funds and, accordingly, increases the privacy of the wallet.

The support of partially signed transactions was implemented for more convenient work with hardware wallets, multi-signatures and CoinJoin transactions.

On August 6, 2019, a Litecoin halving is scheduled. ForkLog published detailed material on how this event will affect the income of miners and the price of Bitcoin.

Litecoin Foundation to Publish 2 LIPs

Litecoin Improvement Proposals are designed to improve privacy with MimbleWimble technology implementation
23 October 2019   195

The developers of the Litecoin Foundation published two proposals for improving the protocol (LIP-0002 and LIP-0003), which provide for the integration of MimbleWimble technology to ensure transaction privacy.

If accepted, sponsored by Andrew Young, David Burkett, and Charlie Lee, users will be able to use the new confidential transaction format through expansion units, which will be released simultaneously with the main units.

According to the developers, the currently existing transparency of the Litecoin blockchain impedes “functional fungibility in a government regulated merchant world.”

Personal identifiable information collected from IP address, exchanges, or merchants can be leaked then tied to your addresses. Also services, such as chain analysis, provide risk-scores based on whether or not any addresses that they have blacklisted appear in its transactional history. This results in some businesses treating these coins as “tainted” and then sending them back to the owner, or worse yet, shutting down their account.

LIP-0003 "Motivation" Section

According to the documentation, coins in the canonical network will need to be sent to a special address, after which they will be available in expansion units.

To implement the update, you need soft fork. Clients with outdated software will be able to continue to work with the main network, however, transactions in expansion units will not be available to them.

It is assumed that the update will be activated a year after the release date. However, this can happen earlier, provided that 75% of the miners vote in favor of the decision.