The Litecoin Foundation announced the addition of a new Operations Director to its team. Keith Yong from Singapore joined the team while Chandler Guo has left the position and the team.
Litecoin remains one of the prominent altcoins, despite the often stagnating prices. LTC could not climb toward $100 and peaked at $80 before sliding back to $50. Currently, the altcoin is once again overshadowed by the Bitcoin drama. But this time, the project is not left to drift, but has gathered a dedicated team of developers headed by the founder Charlie Lee.
The Litecoin team is a supporter of the SegWit approach to scaling blockchains, and Litecoin was among the first coins to adopt the technique. Currently Charlie Lee is one of the prominent opponents of increased block size for Bitcoin.
The Litecoin foundation also set up a system for non-anonymous donations if supporters want their names known. The target fundraising is $200,000 per year to support at least three full-time developers. The target is much smaller compared to recent ICO projects which aim for fundraising up to $100 million.
Litecoin still manages to hold a stable price and remain in the top 5 of CoinMarketCap.
Litecoin continues to evolve, testing Lightning Network transactions, atomic swaps between blockchains and anonymous options.
Litecoin mining remains robust, with no downward difficulty adjustments since July. The difficulty should rise again in less than a day, to match the hashing power.
Litecoin has been seen for a long time as an alternative to Bitcoin when the larger network becomes overloaded. If Bitcoin does not manage to solve its scaling issues, Litecoin may remain the go-to cryptocurrency for sending smaller sums and for everyday transactions.