The Litecoin Foundation joins the Blockchain ecosystem of Function X as public validators – Crypto Economy

Litecoin Foundation is a blockchain ecosystem of Function X as a public validator where it will play a role in the consensus of the Function X network.

Litecoin Foundation, a non-profit organization behind the Litecoin cryptocurrency, announced the news in a blog post on Friday, January 7. Per the announcement, by becoming a public validator for the Function X network, the Litecoin Foundation has joined up with three other renowned non-profit organizations including Asosiasi Blockchain Indonesia, Blockchain Collaborative Consortium, and European University Cyprus.

The Litecoin Foundation will contribute to the consensus of the Function X network and participate in governance. The blog post says:

“As a public validator, the Litecoin Foundation will be responsible for playing a role in consensus by transmitting votes and participating in governance by casting their vote on proposals. By inviting outside organizations as validators, the team behind Function X can ensure that your blockchain remains truly decentralized without sacrificing efficiency. “

Litecoin Foundation is a community-led non-profit organization working to promote the development and use of Litecoin (LTC), the 24th largest crypto currency with a market capitalization of more than $ 9 billion.

The Litecoin Network was launched in October 2011. Since then, it has exploded in both use and acceptance among traders and has been in the top ten cryptocurrencies by market capitalization for most of its existence, thanks to the efforts of the Litecoin Foundation.

Alan Austin, Director of the Litecoin Foundation, Commented:

“With Function X, it is easier than ever to create decentralized applications. That is a crucial step towards creating a world where people can easily access their crypto assets and build an efficient cross-chain transaction environment.

Function X is a public proof-of-stake (POS) blockchain developed by Pundi X Labs that launched its mainnet on July 6, 2021. It has a cross-chain architecture based on pBFT and PoS.

By integrating various blockchain ecosystems like Ethereum and others, Function X is designed to increase the liquidity and value of digital assets created on the Function X network.

The Function X Foundation is also an independent non-profit organization that supports the growth of the Function X ecosystem. The organization brings renowned external organizations into the ecosystem to ensure that its blockchain remains truly decentralized.

David Ben Kay, President of Function X, stated:

“The Litecoin Foundation team and community has a long history of making Litecoin accessible to more people. It is the perfect combination. We look forward to more cross-chain developments with the Litecoin Foundation.

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The Litecoin Foundation joins the Blockchain ecosystem of Function X as public validators – Crypto Economy

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