Litecoin intends to make drastic updates regarding the digital currency (LTC)
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Answer Litecoin intends to make drastic updates regarding the digital currency (LTC)
For 2019, Litecoin is on its way to becoming one of the cryptocurrencies that will be “optional at first,” as it works to become the world’s number one payment option.
Is it time for privacy?
Litecoin is working hard to become the world’s number one payment option. Now, according to Charlie Lee, the founder of the Litecoin project and the managing director of the Singapore-based Litecoin Foundation, has announced the new goals for Litecoin, moving forward in 2019.
Lee took to Twitter to share a post about the next battle for the coin that was chosen among the top 7 cryptocurrencies according to a market size of $1.84 billion.
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With the ability to trade, the individual units of Litecoin will be interchangeable and with the CT feature, so the amount traded on the network will be ambiguous. The plan to add secret transactions to the full implementation of the node will happen, according to Charlie Lee, “sometime in 2019.” There will be no fork involved as he replied on Twitter, “No, confidential transactions can be processed via a simple network development process (soft fork)”.
Charlie Lee removes doubts about Litecoin
One enthusiast asked Lee about doing the same thing for two years, “A couple of years ago, I’ve been focusing on SegWit.” It seems that in the end, Litecoin will have the ability to carry out secret transactions.
As for me, will it be ‘mandatory like Monero’ or optional like ‘Zcash’? Charlie Lee said
“My choice at first. I think mandatory provides much stronger privacy and transparency but it’s hard to come to a consensus on it.”
Lee removed more doubts and provided clarifications about the need for enthusiasts as they did regarding the long-term problems with block size due to 3-fold CT coefficients. “An inversion is always something we need to watch. But it is not a concern at the moment.”
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Well, people had more other technical options that didn’t require any branching or adding more value added. But “the value of these technologies is so unclear to my mind that it’s hard to know how many people really need them. But it’s coming…”
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