The creator of Litecoin, Charlie Lee, mentioned the upcoming MimbleWimble improve which goals at enhancing Litecoin’s scalability and privateness.L
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 have the ability to scale significantly better than different privacy-focused protocols, like Monero or Z-Money.
“It does privateness and scare very nicely in comparison with different implementations”, he mentioned.
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.
Nonetheless, “The chance is manageable”, Lee famous, stating that the privateness characteristic will probably be applied solely on the MimbleWimble extension block, which suggests it will not have an effect on fundamental 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” is just not a superb method to cash, in his opinion:
“You need cash to be steady and also you need it to work. Litecoin has labored flawlessly over the previous 9 years.”
Lee additionally factors out that given his function as “benevolent dictator” over the Litecoin protocol, the cryptocurrency can endure upgrades extra effectively than Bitcoin.
“It takes ceaselessly to get something applied on Bitcoin as a result of consensus is sluggish […] With Litecoin if we wish to do one thing we are able to transfer fairly quick on it.”
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