Litecoin (LTC): Litecoin Core 0.17 Is Lowering Transaction Fees By About 10 Times
Litecoin (LTC) holders are delighted by the updates the new Litecoin Core 0.17 brings, especially by the one regarding the lower transactions fees by about 10 times their current value. The Litecoin Foundation announced the upcoming Litecoin Core update and its new changes on the Litecoin (LTC) official Medium blog page.
“The average transaction fee as it stands on the network is 0.001 Litecoin (LTC) per KB or approximately $0.05. With the announced changes that will soon become 0.0001 Litecoin (LTC) per KB or about $0.005, half a cent and back at 2015 levels,” the Litecoin (LTC) dev team, Litecoin Foundation, said on Medium blog page dedicated to the project.
The announcement received some very positive opinions from the Litecoin (LTC) community, in particular.
“They’re practically none existent as it stands. I transferred some yesterday and was impressed with the speed and price. Great stuff,” said James Gerrard, a Litecoin (LTC) enthusiast on the upcoming Litecoin Core 0.17.
Litecoin Core 0.17 Is Lowering Transaction Fees By About 10 Times, And The Litecoin (LTC) Holders Are Delighted
On the other hand, the new Litecoin Core 0.17 announcement was still criticized by the fans of other cryptocurrencies in the market. One Dash (DASH) enthusiast said that Litecoin (LTC) transaction fees are still above those of his favorite crypto, DASH, and he also said that the achievement would be useful if the LTC would be a digital asset with real-world use.
“That would be good news if people actually used Litecoin for real-world use. It’ll still be more expensive and slower than DASH anyhow,” BitcoinForChumps said on Twitter.
The transaction fees on a blockchain are dictated by the transaction data and block limits. According to Litecoin Foundation, Litecoin (LTC) network’s block size on the disk are still considerably small in comparison to other digital assets in the market.
Additionally, some Litecoin (LTC) community members think the upcoming Litecoin Core 0.17 with its lower transaction fees would benefit mining pools more than regular Litecoin (LTC) holders.