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   2110

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).

Litecoin to Join Forces with Beam

MimbleWimble technology can be theoretically integrated into Litecoin
08 February 2019   475

Representatives of the Litecoin Foundation together with the developers of Beam  cryptocurrency are exploring the possibility of integrating MimbleWimble technology into Litecoin.

We have started exploration towards adding privacy and fungibility to Litecoin by allowing on-chain conversion of regular LTC into a Mimblewimble variant of LTC and vice versa. Upon such conversion, it will be possible to transact with Mimblewimble LTC in complete confidentiality.

Beam Team

It is noted that further results of cooperation of the company will be reported in their official blogs.

Worth reminding, in January Charlie Lee reported on implementation of confidental transactions in Litecoin.