The creator of Litecoin, Charlie Lee, mentioned the upcoming MimbleWimble improve which goals at enhancing Litecoin’s scalability and privateness.
Lee famous that Litecoin’s upcoming implementation will be capable to scale significantly better than different privacy-focused protocols, like Monero or Z-Money.
“It does privateness and scare very properly in comparison with different implementations”, he stated.
Speaking concerning the dangers concerned, Lee identified “hidden inflation”, a bug generally affecting privateness cash which permits hackers to counterfeit an infinite quantity of cash.
Nevertheless, “The chance is manageable”, Lee famous, stating that the privateness function might be applied solely on the MimbleWimble extension block, which suggests it could not have an effect on essential Litecoin’s layer.
Lee additionally famous that Litecoin’s repute as a “boring” coin is definitely a bonus, for the reason that “construct quick and break issues” shouldn’t be a superb method to cash, in his opinion:
“You need cash to be secure and also you need it to work. Litecoin has labored flawlessly over the previous 9 years.”
Lee additionally factors out that given his position as “benevolent dictator” over the Litecoin protocol, the cryptocurrency can bear upgrades extra effectively than Bitcoin.
“It takes perpetually to get something applied on Bitcoin as a result of consensus is sluggish […] With Litecoin if we need to do one thing we will transfer fairly quick on it.”
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