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   1525

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.

Dusting Attacks to be a Thread to Litecoin

Allows to indentify the wallet owner by sending the tiny amount of LTC he won't be able to send without additing to another transaction
16 December 2019   499

The Litecoin cryptocurrency network does not have built-in anonymity features. Thus, it becomes vulnerable to a Dusting attack when hackers and fraudsters try to violate the privacy of cryptocurrency user data by sending tiny amounts to users ’personal wallets.

On average, a network usually has about 40,000 active addresses per day, however, according to BitInfoCharts, every 7 days this value reaches 70,000, and then drops sharply. This led to the formation of a sawtooth graph, which is clearly visible even with a cursory glance.

Franklyn Richards

Litecoin Haus CEO and Litecoin Foundation Director

According to Richards, it started on August 20, 2019. Since then, every week there has been a sharp jump and the same sharp drop, and this happens for four months. Last time, a major dust attack took place on August 10, 2019. He also noted that if the Litecoin network does not introduce a method of automatically managing and moving its assets, then the scale of the problem will be comparable to the August 10 attack.

The total number of transactions during the same time did not show any spikes, and the average transaction cost does not show signs of correlation.

Richards noted that if this is really a dust attack, then miners should introduce a new set of rules to reduce the spread of “dust”. In addition, nodes that are not related to mining can “economically put pressure on miners” to quickly introduce these rules.

“Dust” - so few coins or tokens that sometimes users don’t notice a change in their balance - hence the name of the attack. Since the amounts are very small, they cannot be spent without using other user coins. Further transfers and allows an attacker or sender of "dust" to track and deanonymize the victim (wallet owner).

Franklyn Richards

Litecoin

However, developers are working to make the network more secure by using confidential transactions and accelerating the integration of Litecoin with MimbleWimble, which will help protect user data from intruders.