The Litecoin Foundation, a community-run organization, announces the signing of a joint agreement with AntPool, an open-access crypto mining pool, to develop the digital currency research laboratory, ‘LTC Labs.’ The organization aims to research and gather information on anonymous transactions with the LTC Labs. Moreover, the development of dApps, expansion of digital currency, and Litecoin (LTC) based wallets and projects will also be in focus.
Litecoin Foundation Partners AntPool For Digital Currency Research Lab
Litecoin Foundation, on its website on Tuesday, announced the formation of the digital currency research laboratory LTC Labs in partnership with AntPool. The partnership will help drive and expand the future of Litecoin and focus on future development programs.
Moreover, AntPool has shown interest in donating half of its Litecoin Pool mining earnings each month to fund LTC Labs and support Litecoin (LTC).
Charlie Lee, the creator of Litecoin, announces in a tweet about approaching Antpool to discuss Litecoin’s Mimblewimble Extension Block (MWEB) upgrade signaling. The tweet reads:
“We’re very excited to announce this partnership with @AntPoolofficial. We first approached AntPool last month to talk about MWEB signaling. They were very enthusiastic about supporting Litecoin. And as you know, they were the first pool to upgrade and signal for MWEB.”
Trending Stories
The teams are currently working on establishing a DAO with 10 founding members. Moreover, AntPool will have a controlling stake in the DAO, with 6 members from AntPool and 4 members from Litecoin Foundation.
Control of Funds in DAO for Various Litecoin Projects
In order to control the allocation of funds to the right projects, the DAO will use Gnosis and Snapshot decentralized finance platforms. Moreover, for the autonomous funding of projects, each member can create a proposal and vote on it. A minimum of 5 votes will be needed to pass a proposal.
Furthermore, The DAO team is planning to use the reality.eth crowd-sourced control oracle to ensure the transfer of funds to the correct project.
Commenting on the transparency in the funding process, Charlie Lee Said:
“I love that this is fully transparent. I think it will be a huge value add for the Litecoin ecosystem. Looking forward to funding Litecoin development and future projects with this.”
- Hard Fork Vs Genesis Chain: Terra Team Clears Air Around Debate
- Prominent Investment Officer Predicts More Downside For Bitcoin Price, Here’s Why
- Investors Move $141 Million Out Of Crypto: CoinShares Report
- Just In: S. Korea Police Seek To Guard LUNA Assets
- Incoming Shiba Inu Rally? Over 22 Billion SHIB Tokens Burned Across 497 Transactions
- French Luxury Brand Balenciaga To Accept Crypto Payments In U.S.
- PayPal May Soon Accept All Forms Of Crypto Reveals Vice-President
- Crypto Analyst Predicts What Will Kickstart Next Bitcoin Bull Run
- Just-In: South Korea May Sue Crypto Exchanges Over Terra Crash
- Breaking: S. Korean Exchanges Redflag Litecoin Mimblewimble Update; May Delist LTC
- What Next For The Fast Recovering FTM Price?
- Ethereum Price Analysis: Triangle Pattern Foretells Upcoming Rally in ETH
- Zilliqa Price Analysis: Channel Breakout Hints ZIL Price to hit $0.1
- Bitcoin Price Analysis: Trapped Bullish Momentum Need Triangle Breakout
- FTM Price Analysis: Buyers Tease Breakout From Long-Coming Trendline
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Solana Price Prediction 2022: Bulls to drive SOL Price to new Highs?
- Theta Price Prediction 2022 : Analysts Insights into the crucial Reversal levels
- Sandbox Price Prediction 2022 : Analysts Show Optimism Towards The Metaverse SAND Token
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?
