Litecoin Foundation signs agreement with Metalpha Technology

The Litecoin Foundation is ready to work with Metalpha Technology Holding Ltd to develop new solutions and build processes that can improve mining in the LTC network. 

Metalpha Technology’s task will be to create new derivative products for the Litecoin cryptocurrency. The new developments will not only help to support miners but also hedge risks by reducing the negative effects of mining on the environment. In addition, the search for renewable energy sources will be actively promoted. 

According to the heads of both companies, both sides are focused on long-term cooperation. Moreover, there is an intention to interact with various research institutes, promoting innovation and raising awareness about the Litecoin network. 

LTC mining involves the use of the PoW algorithm. Miners are rewarded with coins, which are then sold on the market to generate revenue. In 2022, many members of the network were forced to cease operations due to the high cost of resources and low revenues.