Home / Litecoin / Charlie Lee talks about the cryptocurrency Privacy and future of Litecoin (LTC)

Charlie Lee talks about the cryptocurrency Privacy and future of Litecoin (LTC)

Charlie Lee talks about the cryptocurrency Privacy and future of Litecoin (LTC)

During the Money 2020 conference, Charlie Lee revealed that Bitcoin inspired him to create Litecoin in 2011. Charlie praised the cryptocurrencies as one of the best forms of money ever created by man.

Going forward, Lee talked about the importance of privacy in the contemporary world. Specifically, he discussed the fungibility of various digital currencies. Charlie said that Bitcoin is not fungible because the origin of its transactions can be easily traced. Furthermore, when a person sends Bitcoin, he can see the amount of Bitcoin owned by the recipient. In comparison, smaller currencies such as Monero and Zcash have invested heavily to improve the privacy of their transactions. According to Lee, these plateaus are dropping the crypto industry.

Despite praising Monero's privacy, Lee stressed that the Monero network is probably exposed to downsizing problems due to its large size. In the recent "Bulletproof" rigid fork, Monero reduced the size of the block by 90%. However, they are even larger than the size of the Bitcoin blocks.

Regarding Litecoin's poor performance, Charlie stated that he intends to list cryptocurrencies on the most popular trading platforms to increase their liquidity. Precisely, he said that he embarked on this mission after the notorious collapse of the Gox Mount exchange platform.

Similar to many other digital currencies, Litecoin has struggled with market downturns from the start of 2018. However, the future of this currency looks promising after its recent addition to the Wirex Crypto prepaid card project. The Crypto Exchange and Wallet platform recently announced the launch of a prepaid cryptographic card that will allow users to instantly purchase and convert Bitcoin, Litecoin, Ethereum and Ripple in US dollars. Users will then use the cards but only goods and services in the same way they would use a regular credit card.

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