Charlie Lee, the creator of Litecoin, announced the release of Litecoin New Core Version on February 8. The announcement on Lee’s Twitter page read:
The version is expected to get positive feedback from the community.
Generally, users of Litecoin like the functionality of the crypto coin. According to them, it is a great means of payment, it has fast network capability for conducting a transaction, and relatively low fees compared to Bitcoin.
Litecoin became popular in the spring of 2017 when the Coinbase announced that it would support LTC trades. Interestingly, many criticized Lee of unjustified pressure in rushing his new cryptocurrency onto the most popular cryptocurrency exchange.
For the last few weeks, Lee’s promise for forthcoming exciting news was not depicted in the price of Litecoin, which is going down alongside with the majority of cryptos. While the updated Litecoin has been released, the price of the original Litecoin, LTC, is now at $146.55.
Litecoin Foundation actively promotes Litecoin for its concertation on dealing with the spending side. The Foundation aspires to present the asset as a means of payment on the financial market. However, this does not mean necessarily that the price of LTC will rise. Moreover, Litecoin is not considered a reserve cryptocurrency or a store of value. All in all, in case of hashing power, was a success index, the Litecoin network would be a very fast expanding one, as more and more people are engaged in Litecoin mining.