On Friday, the Litecoin (LTC) Foundation announced that it had sealed a partnership with Metalpha Technology Holding Ltd to ‘jointly develop the Litecoin ecosystem to hedge risk and lower carbon emissions.’
Litecoin Foundation and Metalpha Will Work with Universities and Research Institutions
Metalpha is a leading wealth management company focusing on digital assets. The partnership will see the two entities support research institutions ‘to develop hedging solutions and sustainable mining for the Litecoin ecosystem.’
Adrian Wang, Founder and CEO of Metalpha, said:
It is a great pleasure to be partnering up with Litecoin Foundation to develop sophisticated derivative products as well as promoting quality public education on green mining to further the mission of building a fully decentralized, open source, global payment network.
Alan Austin, Managing Director of Litecoin Foundation, added:
Metalpha brings rich experience and product design to Litecoin’s ecosystem and we look forward to working together as we continue to build a secure and reliable infrastructure for both Litecoin and the broader crypto industry, while at the same time focusing on research, education and environmental initiatives that are important for sustainability
In particular, the partnership will focus on research in areas that include ‘developing derivative products, facilitating renewable energy use and energy efficiency, and lowering carbon emissions from blockchain mining in the Litecoin Network.’
To achieve this, the Litecoin Foundation and Metalpha will work with universities and research institutions to foster ‘sustainable blockchain innovation, support public education around the Litecoin network, and improve network awareness, adoption, and scalability.’
Metalpha will specifically develop LTC derivative products, support crypto miners with market hedging products and lower the environmental impact of crypto mining.
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