Connect with us

Altcoins

Litecoin [LTC]: Fungibility solution is still a work in progress, clarifies Litecoin Foundation Community Manager

Jibin M George

Published

on

Litecoin [LTC]: Fungibility solution still a work in progress, clarifies Litecoin Foundation Community Manager
Source: Pixabay

Many in the Litecoin community, and by extension, the cryptocurrency community, cheered when Charlie Lee announced his intention to introduce privacy and confidential transactions features to Litecoin and make it more fungible. However, in what could prove to be a dampener on things, Litecoin’s Community Manager has come forward and implied that all is not final yet.

Charlie Lee had announced that he was putting the issues of scalability behind him and was focusing on making Litecoin more fungible by implementing privacy and confidential transaction features. He had also suggested that such implementation would require a mere soft fork and would be done sometime in 2019.

However, Ilir Gashi, LTC’s Community Manager, issued a clarification in this regard today.

Source: Twitter

The tweet implied that everyone’s expected fungibility and CT update may not come as soon as expected, or even in the same form as people believe it would be implemented. The fact that Gashi stated that ‘nothing is set in stone’ also suggests that LTC is still considering all options, including any that do not involve CT, but instead, just contribute to raising the coin’s fungibility.

What is also interesting about the tweet, according to Twitter enthusiasts, is the line ‘We’re investigating solutions that work best for people, exchanges and regulators’. This obviously has raised concern in the LTC community, with some even questioning how LTC’s fungibility and regulators can actually go hand-in-hand, especially since it’s supposed to be a decentralized digital currency.



Finally, it could also suggest that the team behind Litecoin is playing it safe by trying to pursue a strategy that introduces something new without disrupting the cryptocurrency ecosystem, according to some enthusiasts.

Whatever the case may be, implementing CT features that ensure a degree of security to transactions made by LTC users remains the next frontier for the Litecoin Foundation. Addressing the issue of fungibility by implementing CT features is key to realizing Charlie Lee’s goal of Litecoin being recognized as sound money.





Subscribe to AMBCrypto’s Newsletter


Social

Bitcoin SV’s roller coaster price market, R3’s new partnership and more

Jibin M George

Published

on

Crypto News – 22 May 

Ethereum Foundation’s latest update: Ethereum Foundation released a blogpost, highlighting its allocation of funds for the present and future development of the Ethereum network

Read more at https://bit.ly/2wcDJp9

Israel court makes landmark ruling: An Israeli court classified the world’s largest cryptocurrency as an asset, and not as a currency

Read more at  https://bit.ly/2JTrJAW

New chapter for Ripple: Ripple’s Pat Thelen was elected onto the U.S Faster Payments Council’s Board of Directors

Read more at https://bit.ly/2YJCr1b

Craig Wright gets attacked, again: The latest crypto-proponent to attack Wright was Monero’s Ricardo Spagni, who called Wright ‘so dumb,’ and attacked his legal credentials

Read more at https://bit.ly/2EBvtnx

CryptoCompare exchange review: Bitcoin [BTC] to USDT market share fell for the first time in 6 months post-Bitfinex fiasco, the report found

Read more at https://bit.ly/2WZfnuX

Ron Paul on crypto-ban: Former Congressman Ron Paul is in the news after he claimed that Bitcoin [BTC] and crypto-ban was highly unlikely as US Dollar will self-destruct

Read more at https://bit.ly/2WrgjLL



Bitfinex launches Tokinex: Bitfinex announced its collaboration with a hybrid Ethereum-based trading platform, Ethfinex, to launch an Initial Exchange Offering [IEO] platform, Tokinex

Read more at https://bit.ly/2HJ27UH





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending