Developers Integrate Monero’s Confidential Transactions Into Bitcoin and Litecoin
All cryptocurrency users agree that the anonymity and confidentiality of Bitcoin and Litecoin currencies is rather conditional. Neither of these currencies mask the user and his operation, as well as Monero. The time occurs when we’ll see the introduction of Monero’s technology in Bitcoin and Litecoin. The weak point of transactions is confidentiality, that Bitcoin and Litecoin developers are going to eliminate.
The Monero network uses Ring Confidential Transactions (RingCT), and now also introduces the RuffCT improvement solution, which allows to increase the size of subscribed up to 100,000 and more.
The creator of the Litecoin Charlie Lee, seem to be a big fan of confidential transactions, and it appears that the privacy of the Monero will be8 integrated into Litecoin through the upcoming soft fork.
The same confidential transactions are not so definite according to the public opinion and the state bodies view. It is certainly good that they provide 100% confidentiality and make it difficult to track the address of the transmitter, which allows citizen to be safe from criminal structures, but on the other side these same bonuses are for money laundering or financing terrorist groups. At the moment, due to incomplete confidentiality, various “dark” networks refuse bitcoin and move to a more anonymous Monero. Whether Bitcoin will follow it’s way is not yet clear. it must be defined in the future.
As far, Monero has taken the lead of running confidential transactions in the market. Howewer, it seems that Monero’s developers will always be one step ahead of other currencies according to its technology.