Litecoin Network proceeds to one of the largest transactions of 1.15 million LTC for 50 cents

Litecoin Network has developed one of the largest transactions carried out to date. The transaction that took place was 1.15 million litecoin [LTC] whose value is $ 61 million, and all that cost to send was £ 0.00922 ($ 0.5)

According to the official blog, "The Transaction seems to be a consolidation of funds in a new Multi-Signature / Segwit" M "address from a handful of Legacy addresses.The transaction that created the new richest address on the network was made from the previous richer address on the network, which is now empty and 71,618,997 days of coins were also destroyed in the process ".

However, who is the owner / s of the address is difficult to know until they come forward. But, according to the post, it is probably a cold exchange portfolio that is used for the storage of funds. They are held on an offline exchange away from potential attackers.

It should be noted that a SegWit transaction offers a low transaction fee and allows multiple transactions per block, allowing faster transactions. Even the malleability of transactions, which allows users to change the unique transaction ID, has also been corrected.

Litecoin.com shared the transaction news in a tweet. The transfers would be made to a Segwit M address to increase security. If the owner of the address is not a person, it could very well be an exchange trying to secure their funds by transferring them to a safe and cold wallet.

A Twitter user on The Blockchain replied, "Why .50? BTC has not had a transaction of over $ 180 million in the last 4-6 weeks and costs less than 0.15? Should not LTC be much cheaper on the LN? Or are we adding up the 4 individual Tx needed to send this LTC? So many questions …. "

It was answered by Windr, who said: "For large transactions, it is safer to use the main network and wait for 6 confirmations.The lightning is great for receiving many transactions because it divides the payment commission by weight of the individual transactions collected. This transaction is probably singular, so there is nothing to divide. "

See also: Charlie Lee: "Bitcoin, Ethereum and Litecoin are the cryptos bellweather"

See also: Litecoin Core 0.17 release to reduce transaction fees by a factor of 10