Litecoin Reduces Its Transaction Fees Considerably

Under the 0.17.1 update, the transaction charge for Litecoin was ten times reduced than previous. Developers of this popular virtual currency said that further fee reduction would be positive. The average network fee for the upgrade to Litecoin Core 0.17 will be $ 0.01. The main aim is to encourage more Litecoin adoption, which can be achieved in this way.

The transacting fees on the Litecoin platform depend on the size and the blockage of the transaction which means that larger transactions will come with higher fees, even if the fee is not the same.

Once most nodes take 0.17.1 Litecoin Core, it will cost $ 0.15, to make your transaction a complete block. This means that in normal low demand conditions the average user fee will be less than one cent.

This development could be the missing connection to the opening of a Lightning Network channel, to increase adoption and address the costs complaints since atomic swaps are possible between BTC and LTC.