Litecoin News Today – Headlines for November 3

  • Charlie Lee shows his enthusiasm towards the Litecoin project
  • Lee is positive about the latest Litecoin Improvement Protocols
  • There would not be another version of Litecoin

Litecoin News today – The creator of Litecoin (LTC) – Charlie Lee – has been very positive and outspoken about the crypto project. lee, as well as the team behind the project, has been working tirelessly for the greater good of the project. There have been considerable developments in the Litecoin network and its partnerships have been on a continuous rise.

Charlie Lee Is Positive about MimbleWimble Soft Fork

Two proposals were recently drafted on GitHub – LIP-0002 Extension block and LIP-0003 MimbleWimble for establishing privacy features on the Litecoin network. This is a technique that was initially designed for Bitcoin (BTC). The creator of Litecoin Charlie Lee, Grin Developer David Burkett, and Andrew Yang authorized the new proposals. They authorized the proposals with the aim of reducing risks associated with a publicly traded transparent ledger.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$54.97-1.41%

This is a very big move for Litecoin since no one has never implemented extension blocks on a live network. Irrespective of the risks associated with the development, Lee was positive about the fate of Litecoin after the implementation of the privacy protocol. In a recent interview for Grin Talk, the creator of Litecoin said:

We have like a lot of liquidity and Litecoin is on all major digital currency trading platforms. It is one of the most liquid coins out there and it has a history of eight years history of running flawlessly and just works really well.”

Litecoin Would Not Be Releasing another Version of LTC

Litecoin is already on almost all the top digital currency trading platforms in the world. The digital currency is being traded by a considerable number of users and it already has an added advantage than rolling out a new version of the coin altogether via a hard fork. Charlie Lee added:

The reason why we decided to do extension blocks is because we want to do it in a soft fork, where existing nodes would not have to upgrade mean obviously over time they should upgrade it up to the latest code but they are not forced to right away.”

The new upgrade is a soft fork, not a hard fork. This means that there would be no need for another version of Litecoin (LTC). MimbleWimble through extension block proposal could be implemented earlier if a great percentage of the community gives it’s a perfect number of heads up, and it can be activated a year after they release the program code.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.