Now that Charlie Lee is focusing on Litecoin development full-time, interesting things are bound to happen. For now, no one knows for sure what we can expect exactly. The new donation by Innosilicon to the Litecoin Foundation is a big step in the right direction, though. With a bit more funding, the Foundation can pay developers to keep advancing the Litecoin protocol.

It is quite interesting taking note of how many people want Litecoin to succeed. Innosilicon is one of the projects supporting the Litecoin Foundation. Their 666 LTC contribution – worth around US$29,000 – will help pay for future development. It is a bit unclear what the future will hold in terms of development, though. With the recent activation of SegWit, anything can happen from a development point of view. Ensuring LTC can take its rightful place next to Bitcoin will require some major developmental features, to say the least.

Innosilicon Praises Litecoin Foundation

The number 666 is quite specific, though. To most people in the Western world, it is the number of the devil. In China, however, 666 appears to be a number associated with praise. This seems to indicate Innosilicon wants to praise the Litecoin Foundation with its efforts to date. It is evident the foundation has received far less attention than it should have gotten. That situation may finally come to change thanks to donations such as this one.

At the same time, it is interesting to note how Innosilicon is an ASIC manufacturer. To some people, this donation looks rather dubious. For now, there is no reason to think there is any sort of “agreement” between both parties, though. It is good to see an ASIC manufacturer praise the Litecoin Foundation for their hard work. Collaboration and support will help ecosystems advance.

Rest assured a lot of Bitcoin users would be up in arms when BitFury suddenly makes a donation. Then again, this does not necessarily mean there is anything nefarious going on either. It would be great to see companies and developers work closely together to advance a particular project. That is what is happening in the world of Litecoin right now. It will be interesting to see how the money will be spent. Litecoin is definitely a project to keep an eye on, that much is evident.

Header image courtesy of Shutterstock

Tags: , ,

Leave a Reply

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.