LITECOIN WILL ADD SUPPORT FOR SENSITIVE TRANSACTIONS

The Creator of Litecoin, Charlie Lee, this Monday announced a new vector of development of his cryptocurrency – the addition of confidential transactions.

Lee spoke on the same topic at the Money 2020 conference in October last year. Then he explained that the “stale” bitcoins received from the address involved in suspicious transactions carry additional risks for their recipient. In this context, Lee says, Monero has an important advantage over Bitcoin, since all its moments are interchangeable due to the anonymity of the protocol. The creator of Litecoin also claims that the transparent transfers in the blockchain lead to the conclusion about the well-being of the users participating in them, which also does not contribute to the popularity of certain cryptocurrencies.

Lee did not say, what kind of technology will be used to integrate confidential transactions in Litecoin, but noted that the hard fork for this will not have to be carried out.

Answering the question about when users should expect the appearance of new opportunities for the cryptocurrency, Lee said that he expects to complete the work this year.