Litecoin Developers Are Working Hard To Determine Which Privacy Features They Will Add To The Network
Privacy-oriented coins seem to become more and more popular these days.
Monero (XMR) for instance has been positioned in the top 8 coins on Wikipedia by daily views, says DataLight, a crypto data analytics platform.
It seems that during the timeframe of December 24, 2-018 and January 24m, 2019 Monero managed to be ranked as the sixth most viewed coin on Wikipedia.
This means that the public interest in privacy coins is growing.
Litecoin to receive privacy features
We recently reported that Litecoin’s developers are becoming more and more interested in following the steps of privacy-oriented tokens such as Monero (XMR) and Zcash (ZEC).
Charlie Lee titled a discussion on Twitter on fungibility and hinted at the addition of Confidential Transactions in a “future release of the full-node implementation” in 2019.
Litecoin becoming a privacy-oriented coin could bring more relevancy for the project, but it could also trigger something else: issues on the regulatory and security fronts.
Anonymity is a gold standard these days for decentralization, and it’s understandable that Litecoin is considering it.
Deciding on the technology to be implemented
Now, the Litecoin developers are working really hard in order to determine which privacy features they will be adding on the network.
The team was not able to make a final decision by now regarding the technology that they will be using.
Charlie Lee said that fungibility is the only property of sound money that’s missing from Bitcoin and Litecoin as well.
He said that now that the scaling debate is behind them, the next battleground will be on privacy and fungibility.
Lee also said that at the moment he is focused on making Litecoin more fungible by adding Confidential Transactions.
“Litecoin dev team spent hours discussing how to add Confidential Transactions. The way to do a softfork CT is very similar to doing extension blocks and extension blk may be simpler and can do a lot more. We are now also exploring doing bulletproof MimbleWimble w/ extension blks.” Lee explained.
Ex-Google engineer, Charlie Lee is the creator of Litecoin and MD of the Litecoin Foundation. Previously Director of Engineering at Coinbase, Lee now focuses full-time on Litecoin. To enhance fungibility and privacy of LTC, integration of MimbleWimble has begun, however Lee has recently announced a crowdfunding launch to fund the development.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.