Funding the development of existing cryptocurrency projects remains a tough balancing act. There are many different ways to go about it, yet the approach by LitecoinPool makes a lot of sense.
Rather than forcing a tax upon miners, the pool looks for miner donations.
Voluntary Donations Through LitecoinPool
The oldest Ltiecoin mining pool aims to contribute to the development of LTC via the Litecoin Foundation.
Follow CryptoMode on Twitter, Youtube and TikTok for news updates! Miners can determine the percentage of the block reward they want to contribute in the process.
Albeit this functionality isn’t entirely new, it is the first time the donations extended to the LF.
In the previous iteration, miners were able to contribute to the pool itself on a voluntary basis.
This approach is more convenient for the miners, all things considered.
No one wants to be forced into a scheme they don’t fully agree with.
Given the voluntary approach of this system, it remains up to individual miners to make the choice.
It would appear that some users of LitecoinPool have already made the conscious decision to explore this option.
All donations will be batched by the pool and paid out once per month.
This further confirms that a voluntary donation system can go a very long way in the cryptocurrency industry.
Giving users the chance to opt-in is always preferable, regardless of the cause.
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