Litecoin Founder Charlie Lee Proposes Miner Donations

25 January 6 640x400

A 1% donation of the block reward to fund Litecoin (LTC) development – this is what Charlie Lee, the coin’s founder, proposes as a solution to underfunded initiatives. Litecoin Miners May Afford to Support Development with 1% Fee Litecoin miners, which also take rewards for Dogecoin and other Scrypt-based algorithms, can afford to share some of their block rewards, commented Lee. 1/ I think a better way to fund development is mining pools voluntarily donate a portion of the block reward. How about Litecoin pools donate 1% (0.125 LTC) of block rewards to the @LTCFoundation? If every miner/pool does this, it amounts to about $1.5MM donation per year! — Charlie Lee [LTC] (@SatoshiLite) January 24, 2020 The Litecoin Foundation, one of the most prominent development entities, has gone through funding deficits, seeking other ways to survive the effects of the bear market. The suggestion somewhat angered the community, as mining…

Read the original article here