- Litecoin’s alleged lack of performance caused a lot of people in its community to worry about the future.
- Such rumors originally emerged nearly a year ago, when a conversation between developers leaked.
- The rumors were proven false yesterday, as LTC’s Charlie Lee announced the launch of a new upgrade.
Recently the Litecoin (LTC) community started fearing for the project’s future, as the lack of updates on new development caused suspicion that there is no new development at all. However, such fears were quickly pushed aside yesterday, after Charlie Lee, Litecoin’s founder, published a new announcement.
Litecoin Project finally gets a new upgrade
Lee used his Twitter account to reveal that the project had just released Litecoin Core v0.18.1. The new upgrade came out in full, completely finished, and ready to be used.
Charlie Lee seems to have also been aware of the growing fears among the Litecoin community members, as he himself pointed out that rumors of no development were just proven false.
In addition to that, he noted that Litecoin Core 0.20 is already in the pipeline. Once this upgrade comes out, Litecoin’s blockchain will finally be back in line with the newest Bitcoin Core code.
What caused the concerns?
Talks of no development at LTC threatened to cause great harm to the project’s reputation, but they were not unfounded. What Lee said in his tweet directly referenced an incident that took place nearly a year ago, in August 2019.
Back then, a conversation between LTC developers leaked to Reddit, indicating that the project is stagnating, and that it lacks progress. The full transcript of the conversation between developers is still available on Reddit.
Apart from the supposed lack of development, the community was also concerned by the lack of LTC’s price recovery. After the mid-March price crash, caused by coronavirus pandemic fears, many coins started recovering at a rapid pace. Bitcoin and Ethereum led the rally that returned them to their pre-crash heights.
Litecoin’s charts and analysis, however, showed that the project’s recovery is rather slow. The coin’s price against the USD fluctuated between $38 and $50 for more than two months, now.
However, with the launch of the new upgrade, this may finally see a stop, as the project could soon start seeing a long-overdue performance improvement.