Charlie Lee, Litecoin’s () creator, declared that he will focus on making the major cryptocurrency more fungible in a Jan. 28.
Lee stated in the tweet that “fungibility is the only property of sound money that is missing from ₿itcoin & Litecoin,” adding that “the next battleground will be on fungibility and .”
The tweet’s conclusion is that the developer wants to zero in on implementing private transactions in Litecoin, stating:
“I am now focused on making Litecoin more fungible by adding Confidential Transactions.”
In reply to another tweet in the same thread, Lee that confidential transactions could be added to Litecoin through a . A soft fork is a modification made in a cryptocurrency’s source code that doesn’t lead to the division of blockchain, as happens with a .
Lee also in the same thread that the update would be implemented “sometime in 2019.”
Fungibility is the propriety of money that implies that every unit of a given asset has exactly the same value as any other asset of the same kind and unit. As Cointelegraph previously , ₿itcoin’s () fungibility has previously been called into question when particular ₿itcoins become “tainted” by their involvement in criminal activity, which can decrease their value.
So-called privacy coins, such as Monero (), Zcash () and Dash () were purposefully to improve on perceived issues with ₿itcoin and other altcoins, such as a lack of sufficient anonymity and fungibility.
Litecoin is currently the cryptocurrency by market capitalization, seeing about 2 percent growth on the day to press time.
Published at Tue, 29 Jan 2019 16:55:00 +0000
