There has been an official statement from Xinxi Wang, a board director at the Litecoin Foundation, who addressed the Github issue where some people has been suggesting that Litecoin had been abandoned. 

The director said, “Github was updated frequently but not in the main repo”. 

Wang went on to reveal that Adrian Gallagher, the Litecoin core developer, was testing the latest upgrade 0.18.1 version. He further commented saying "that once the code is reliable, it will be merged to the main repo."

Charlie Lee has made his feelings clear about the recent situation and when Wang was asked about Lee's commitment to the cause he said: 

“Charlie has been a huge supporter of Litecoin and the Litecoin Foundation. This should be seen as a tremendous indicator of Charlie’s belief in LTC and commitment to the project. The community has also helped greatly and we have plans to keep fundraising from the community in ways that resonate with them.”

Wang also had his say on the hash rate decline to the current 318.9 TH/s saying "the price drop to be one of the contributing factors. While acknowledging that Litecoin was still very safe, he added that following the decline in its valuation, miners using old rigs “could be losing money and thus stopped mining” leading to a drop in the hash rate." 

 

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD battle between the bears and the bulls in full swing

Bitcoin price is still bearish despite attempts to push it towards $10,000. Volatility levels in the cryptocurrency market continue to mount especially for the major cryptos such as Bitcoin, Ethereum and Ripple.

More Bitcoin News

Ethereum Price Analysis: ETH/USD head-and-shoulders pattern breakout eyes $300

Ethereum price is once again trimming the accrued gains on the day after failing to break above the resistance at $235. The second-largest crypto by market capitalization has sunk to $230 support amid ...

More Ethereum News

Ripple Price Weekly Forecast: XRP/USD bleeds back to the drawing board

Ripple price alongside other cryptocurrencies has had a rough week, to say the least. I had reported that the crypto market was grinding north on Friday last week. 

More Ripple News

LTC/USD re-enters the 20-day Bollinger Band following bullish action

LTC/USD managed to chart a second consecutive bullish day and re-entered the 20-day Bollinger Band. In the early hours of Friday, LTC/USD went up from $61.75 to $62 and is hovering above the green Ichimoku cloud.  The MACD indicator shows sustained ...

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP