On July 7, Charlie Lee, creator of Litecoin (LTC), wrote a post on Reddit to offer a fix for the current spam attackto the Bitcoin network. He had suggested the idea three years ago in a pull request to codebase on GitHub, but developers rejected his idea at the time. A similar attack on the LTC network would not be not “economically feasible.”
Lee said that one of the reasons he created Litecoin was because it was hard at the time to make changes to the Bitcoin network. Having different developers with distinctive ideas, however, “can only be good for the resiliency of the whole cryptocurrency movement.”
In his recent keynote address at MIT15 Bitcoin conference in Boston, Lee explained that he created Litecoin to be “the silver of Bitcoin.” Litecoin’s limited supply of 84 million is four times larger than Bitcoin’s, creating a different size “castle” of security for its network. The currency is doing well this month, following suit with its predecessor’s upswing.
Read more: The Cointelegraph