Litecoin users rest easy – the network is “extremely secure”, according to Charlie Lee


Charlie Lee, the founder of Litecoin, has spoken about recent concerns that users on his cryptocurrency’s network have had about the security of the platform.

After the launch of Crypto51, a new application that theorizes what the loss would be if different cryptocurrencies were hit by a 51% attack on their networks, the crypto-community seemed to experience a wave of panic thinking that there might be a danger for their tokens.

Lee has assured users on the Litecoin platform that there is no reason for worry since the network has a relatively low threat of attack and that the cryptocurrency is secure and healthy. In true Lee fashion, the assurances were friendly, informative and full of emojis.

The founder noted that the well-distributed mining pools aid in the security, as well as increased hashrate times and boasted about the high capital costs.

We have yet to hear from the teams and founders of the other cryptocurrencies regarding the new application. It’s unlikely we’ll hear from Bitcoin s founder but Bitcoin Cash’s Roger Verr might have some words on the matter. If so, we will develop the story as it unfolds.

Related Articles

Bitcoin ATMs increase after months of downtrending

After four months of declining figures, the number of Bitcoin ATMs across the world increased significantly in May. announces license for digital token services

Singapore-based cryptocurrency exchange has been granted the major payment institution (MPI) license.

Bitcoin to the Australian dollar at a massive discount

With the suspension of bank transfer services on Binance Australia, the price of the cryptocurrency has tanked.

Bali government cracks down on crypto payments

The province in Indonesia has set strict regulation against tourists paying in Bitcoin and cryptocurrencies.

See All