Transaction fees for Litecoin (LTC) cryptocurrency will decrease by 10 times

Litecoin Core developers have stated that updating the client to version 0.17 will reduce the size of the commission on the Litecoin network ten times: from almost $ 0.05 (0.001 LTC per 1 KB) to the level of 2015 – $ 0.005 (0.0001 LTC per 1 KB).

At the same time, at the moment, the commission system is tied to the size of the data required for the transaction, and allows you to charge, for example, $ 0.01 per transaction for $ 1 million and $ 0.10 for sending $ 100.

Litecoin Fees to lower 10x in next Core Release. @thrasher_au @LitecoinProject #Litecoin https://t.co/AAkBdzZkMr

– Litecoin.Com (@LitecoinDotCom) October 19, 2018

Recall that the other day the Monero development team completed hardfork , during which Bulletproofs protocol was activated in the main network.

Now, according to CoinMaterics, the commission in the network has decreased from 60 cents to two, and the average transaction size from 18.5 KB reached 3 KB.

Average fee has plummeted from 60 cents to 2 cents https://t.co/V6Nwejuo6L pic.twitter.com/d6d8qYB8WU

– CoinMetrics.io (@coinmetrics) October 20, 2018