The creator of Litecoin, Charlie Lee, discussed the forthcoming MimbleWimble update which aims at enhancing Litecoin’s scalability and privacy.
Lee observed that Litecoin’s upcoming implementation will be equipped to scale much much better than other privacy-concentrated protocols, like Monero or Z-Income.
“It does privateness and scare pretty properly in contrast to other implementations”, he claimed.
Chatting about the risks included, Lee pointed out “hidden inflation”, a bug generally influencing privateness coins which permits hackers to counterfeit an infinite total of cash.
Having said that, “The threat is manageable”, Lee pointed out, pointing out that the privateness feature will be applied entirely on the MimbleWimble extension block, which implies it would not impact main Litecoin’s layer.
Lee also famous that Litecoin’s track record as a “boring” coin is really an edge, since the “build rapidly and break things” is not a good approach to funds, in his feeling:
“You want revenue to be steady and you want it to perform. Litecoin has worked flawlessly above the previous 9 a long time.”
Lee also details out that given his role as “benevolent dictator” about the Litecoin protocol, the cryptocurrency can go through upgrades additional successfully than Bitcoin.
“It normally takes endlessly to get anything executed on Bitcoin mainly because consensus is sluggish […] With Litecoin if we want to do something we can shift pretty fast on it.”
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