Litecoin Creator Charlie Lee to Make Coin More Fungible and Private - BITCOIN NET MAGZ

Litecoin Creator Charlie Lee to Make Coin More Fungible and Private

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Charlie Lee, Litecoin's (LTC) founder, announced he will focus on producing the significant cryptocurrency more fungible in a tweet Jan. 28.

Lee stated in the tweet which"fungibility is the sole property of audio money that's missing from Bitcoin & Litecoin," adding that"another battleground is going to be on fungibility and privacy."

The tweet's decision is that the programmer wants to zero on implementing private trades in Litecoin, saying:

    "I'm now focused on earning Litecoin longer fungible by incorporating Confidential Transactions."

In reply to some other tweet in precisely the exact same thread, Lee explained that confidential transactions could be inserted to Litecoin through a tender fork. A gentle fork is really a modification made in a cryptocurrency's source code which does not cause the branch of blockchain, as occurs with a hard fork.

Lee also noted at precisely the identical thread that the upgrade could be executed"sometime in 2019."

Fungibility is the propriety of money that suggests that each and every unit of a particular asset has exactly the exact same significance as any other asset of the same sort and unit. Since Cointelegraph formerly reported, Bitcoin's (BTC) fungibility has previously been called into question when certain bitcoins become"tainted" with their own participation in criminal activity, which can diminish their value.

So-called solitude coins, such as Monero (XMR), Zcash (ZEC) and Dash (DASH) were purposefully created to improve perceived problems with Bitcoin and other altcoins, like a lack of sufficient anonymity and fungibility.

Litecoin is currently the 7th largest cryptocurrency by market capitalization, viewing about 2 percent increase over the day to media on time.

 

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