- Litecoin Foundation partners with Antpool to establish LTC Labs.
- LTC Labs will be managed by a “distributed autonomous organization”.
- AntPool will fund the project.
On April 5, the Litecoin Foundation, a non-profit organization, announced its partnership with Antpool, one of the world’s leading digital currency mining platforms. The aim is to form a digital currency research laboratory named ‘LTC Labs‘ and the Litecoin team is currently engaged in creating a DAO for managing these initiatives.
The primary focus of the lab will be “research and information of anonymous transactions, decentralized applications, evolution of digital currency, wallets” and similar projects related to the development of the Litecoin ecosystem. The funding will come each month from the Litecoin Pool mining money that AntPool has agreed to provide. The core system of the lab includes a vault and voting system.
In the blog, Litecoin has said, “The Litecoin Foundation is excited to join together in a partnership with Antpool to help drive and expand the future of Litecoin, by focusing on future development initiatives for the benefit of all.”