New fee estimation to be tested in Litecoin network

Charlie Lee proposes miners to signal their min accepted fee in the block header
10 January 2018   1665

Charlie Lee is going to test his own ideas in Litecoin network.

Thanks to this solution, users do not have to determine for themselves what minimum amount of commissions they will need to pay for a quick confirmation of transactions. Instead, they will have available information from the miners, based on which it will be possible to calculate the median commission size for the last 100 blocks and indicate the amount that guarantees confirmation within the nearest blocks.

Since the minimum commission amount will be included in the block header, this data will also be available for wallets using the simplified payment verification (SPV) method.

Also, Charlie Lee added that in the next release of the reference client Litecoin, the minimum commission for transmitting transactions on the network will be reduced from 0.001 LTC / kb ($ 0.30 / kb) to 0.00001 LTC ($ 0.003 / kb). Transaction fees will then be reduced to 0.0001 LTC / kb ($ 0.03 / kb).

Lite.IM Beta to be Released

Lite.IM will allow users to interact with Litecoin blockchain using text commands through a special API-system
09 August 2018   534

Developers of the Zulu Republic blockchain project presented Lite.IM software that allows users to make transactions in the Litecoin network using SMS messages and the Telegram messenger.

Zulu Republic is convinced that Telegram is the safest messenger and provides all the necessary opportunities for testing the concept before launching SMS payments.

Representatives of the project emphasize that a lot of people live in countries with limited access to the Internet, under conditions of strict censorship by political regimes, without access to financial services. In addition, 64% of the world's population owns mobile phones, but only 33% have smartphones. This is the reason why Zulu Republic is convinced of the need to link SMS messages and Litecoin blockchain, not relying on the availability of the Internet.

By opening the world of cryptocurrency to these underserved and vulnerable populations, we aim to provide a degree of financial agency, autonomy, and (perhaps most importantly) security that they’ve been denied up until now.

Zulu Republic

Lite.IM will allow users to interact with Litecoin blockchain using text commands through a special API-system. At the moment the community already has the opportunity to use Telegram-bot to check balances and send Litecoin to LTC-addresses or e-mail. The solution is written on JavaScript. More info is available at GitHub.

The creator of "digital silver" Charlie Lee is convinced that the bear market allows us to focus on developing solutions for mass adoption of technology.