While the price and attention has subsided substantially, Litecoin has gone through a lotsbestemming of the switches overheen the last duo of months. I’m here today with Andrew Vegetabile from the Litecoin Association to talk about things that have bot happening te Litecoin ter the past few months.
Since our talk te February regarding LTCGear, how has Litecoin switched?
There have bot a number of activities and events that has happened since February inbetween major events with Litecoin itself spil well spil Litecoin Association news and some other miscellaneous things. Spil I write this, the Litecoin network will practice its very first halving within the next
40 days. Several websites have bot set up for the countdown, and here is one that wij have linked on Reddit.This is obviously a major milestone for Litecoin, and wij expect to see enlargened activity surrounding this event.
Te the spirit of the Litecoin Association mission, the Lade development team has created two of a series of movies aimed towards educating the general public about crypto topics. Thesis movies can be seen on the Litecoin Association YouTube channel located here .
The subject of the two movies are private and public keys explained, and how to invoer/uitvoer a private key. They are introduced by MLPFrank and were created by MLPfrank, Losh11, spil well spil a few others who helped (myself included). Wij look forward to proceed creating thesis movies to help educate enthusiasts both inwards and outside the crypto communities.
The Litecoin core development team (not to be confused with the Schuiflade development team, whos responsibilities are to support the Litecoin Association) has released Litecoin Core version 0.Ten.Two.Two. This latest release features the technical omschrijving of Bitcoin v0.Ten.Two, but with Litecoin specific patches. Information about specific features included can be found here.
Litecoin.com, which is possessed and managed by the Litecoin Association and managed by the Lade development team lead, Facet, resumes to grow. The Litecoin Association and associated development team will proceed to update the webpagina to include relevant merchants, 3rd party wallets, exchanges, and other businesses. Businesses that are interested ter being listed can send an email to [email protected]
I also created an academic paper a few weeks ago called “An Objective Look Into the Impacts of Forking Blockchains due to Malicious Actors”, te which I received editing assistance from Ross Nicoll (Dogecoin core developer) and Rishi Nair (Litecoin community member and Lawyer). This paper is hosted courtesy of the Digital Currency Council. The idea of the paper embarked spil a discussion on the moral, ethical, and legal aspects of forking a blockchain due to bad actors. Te lieu of the discussions, I felt it wasgoed necessary to produce more academic chunks spil opposed to the flood of “whitepapers” that the crypto ecosystem has seen overheen the years. And discussion of taboo topics such spil blockchain forking vereiste be discussed te order to evaluate past issues and learn from our mistakes ter order to budge forward spil an industry. This paper wasgoed also created before the large 20MB discussions that are going on now (or should I say, indeed blew up), but certainly has relevance to the subject.
Can you describe the latest spam attack Bitcoin went through, and how Litecoin has a fix for it?
The latest attacks on the Bitcoin infrastructure spil far spil I am aware of wasgoed a test of some group of individuals to “stress test” the network, ter which the concept wasgoed birthed from the 20MB discussions. They dreamed to test the real world script of attempting to fully explosion blocks and what that would mean for the network if this became a reality (which from Gavin’s estimates will toebijten towards the end of 2016).
Te terms of Litecoin’s fix, it has to do with the way fees have bot implemented when sending coins from wallet A to wallet B. Litecoin experienced similar attacks on the network te a malicious manner years ago (whether or not the stress test wasgoed malicious or not is up for debate) and the fix wasgoed implemented. However with that said, there has bot some public discussion inbetween developers from all coins to include Bitcoin, Litecoin, Dogecoin, and others on reddit within the last week or two and there has bot some criticism from some of the Bitcoin developers and community members on the fix Litecoin has does not solve the entire problem. I believe their premise has to do with other services (third party applications) utilizing the blockchain and the way Litecoin has immovable the Tx spam attacks would cause those services to pay a loterijlot more.
Because of the intertwined eco-system of users, miners, fees, and potential attacks, its a hotbed of discussion, some of which to mij seems more philosophical than technical. Honestly I would love to pick the brains of some of the developers out there on this kwestie.
Litecoin is going through a block havening ter a duo of weeks, what kleintje of effect do you think it will have on the miners and price of Litecoin?
I would anticipate some volatility and the price going upwards, then down a bit, then up a bit, and so on just like with any other speculating event. Where the bears and the bulls attempt to one up one another. Its my opinion that wij will not see any solid effects of the halving until after the event, where there are less coins produced.
Te terms of the miners it would truly have to be the economic incentive. Is it feasible to proceed to mine at the price? Logically one would thing that removing half the coins produced would cause a slight uptick ter price. But who knows with cryptos!
Why do you believe price is presently skyrocketing right now?
There are a number of things that one can speculate on the Litecoin prices sky rocketing. From the Greece bailout discussions to talks about a pump group ter China to the issues Bitcoin has bot having recently (F2pool building its own chain/a soft fork, 20 MB discussions that have turned toxic, the network spam attacks). I believe that its just all of the issues packaged up at the volmaakt time. Litecoin wasgoed not the only coin that witnessed some significant gains. Peercoin had an amazing 600% increase vanaf 24 hours at one point and Namecoin also had some significant increases. For those few weeks, it seemed that every altstem coin wasgoed loving the benefits of bulls overtaking the markets.
While price has fallen since reaching the peak ter the $8 range, it has maintained some of its upward momentum. With the Litecoin block halving coming up prompt, price could go either way which puts a big influence on both traders and miners. I guess wij’ll just have to see. Thanks for your time Andrew.
How do you think Litecoin has grown? Predictions for price after the halving? Let us know ter the comments below!