Litecoin Foundation and AntPool Formed a New Organization Focused on Dapps

Litecoin Foundation is a community-run organisation that supports the adoption and development of Litecoin. In partnership with AntPool, the platform for digital currency mining, LTC Labs will be formed.

The new research laboratory will focus on developing anonym transactions, decentralized apps, Litecoin wallets and other projects in the Litecoin ecosystem.

AntPool also promised to donate half its Litecoin mining earnings each monthly to the partnership and to fund LTC labs.

LTC Labs forms a DAO with 10 Founding Members

Charlie Lee, creator of Litecoin greeted the partnership warmly, tweeting:

1/ We are very excited to announce our partnership with @AntPoolofficial

AntPool was our first contact last month to discuss MWEB signaling. They were enthusiastic about supporting Litecoin. They were also the first to signal for MWEB and upgrade their pool.

https://t.co/uWNp5ovDLA

April 5, 2022 — Charlie Lee (@SatoshiLite).

According to Litecoin Foundation’s release, the new project is currently working towards a DAO. Ten founding members are involved in the project, six from AntPool, and four from Litecoin Foundation. AntPool will therefore have a controlling stake in the board.

Lee revealed that Labs will use Snapshot and Gnosis to vote on how the fund should be used. A minimum of five people must vote “Yes” to pass a proposal.

Once confirmed, Labs will use the “reality.eth crowd-sourced smart controller oracle” in order to ensure that funds are correctly delivered to projects.

Upgrade to Litecoin MWEB

The Mimblewimble extension blocks (MWEB), which is considered to be the most significant upgrade to the Litecoin Network ever, promised to give fungibility to all while also improving LTC’s scalability. AntPool activated the update on February 26, this year. It includes significant security and privacy enhancements.

Although the initial code was completed on March 15, 2021 the first LTC release containing MWEB codes went live on January 31, 2022.

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Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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