Litecoin foundation run out of money and their new project has been put on hold, the group announced that they had "moved the project in a better direction" after a meeting in the Cayman Islands with representatives from the Ethereum Foundation and the Bitcoin Foundation.
The announcement was made under the title:
"Bitcoin and Litecoin Foundation is changing from Bitcoin Foundation to Litecoin Foundation".
In a video statement, the group says that they had been approached about running a project with the Bitcoin Foundation but decided against it due to how they felt they would be treated.
The two organisations discussed, they decided that one organisation would take care of both the fundraising and the long term future of the project, while the other would focus on the new fundraising. As such, the idea was to merge the two and now it seems as if the Litecoin Foundation has decided to move closer to the Bitcoin Foundation as a result.
"As part of that, there's not to be any conflict of interest," the statement says.
Congratulations @afra1122! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :
You can view your badges on your Steem Board and compare to others on the Steem Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Litecoin is having some serious issues.
It might be one of those that fades into the background.
A bad year from the development side of things.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit