1 Litecoin = 1000 Lites says Charlie Lee, Creator of Litecoin

1 Litecoin = 1000 Lites

Charlie Lee is the founder and creator of Litecoin, which is one of the most popular crypto coin out there. Litecoin Core v0.15 has been released and with that, you will be able to start denominating the coins in lites with 1 litecoin equal to 1000 lites. Many people have been asking for this as litecoin has grown multifold in terms of value.

The new V0.15 brings numerous improvements that makes the block download, startup, transaction and block validation much faster than previous versions. You can read Litecoin’s official page for the entire changelog.

One of the major changes includes replace-by-fee where you can replace unconfirmed transaction with higher fee transaction. Multi wallet support is also added so you can load and separate wallets. Each wallet has individual balance, keys and received transactions. Other improvements include faster performance thanks to better CPU usage and more predictable memory usage. Also, now the estimates are now tracked on three different time horizons. This allows for longer targets and means estimates adjust more quickly to changes in conditions.

By default, the wallet will use conservative fee estimates to increase the reliability of transactions being confirmed within the desired target. For transactions that are marked as replaceable, the wallet will use an economical estimate by default, since the fee can be ‘bumped’ if the fee conditions change rapidly.