The Currency Analytics
By Maheen Hernandez
Litecoin (LTC) Hidden Inflation and Risks
In a recent interview on CoinTelegraph, Charlie Lee, the creator of Litecoin was asked on why in the previous interview he called Litecoin as boring and on why he thinks like that.
I think it is boring and people think it is boring because it is similar to Bitcoin, because we don’t do anything crazy risky, because we want to keep it like money, right.
I think the bad point about it is that it is hard for us to attract developers to work on Litecoin as it is not like any other cryptocurrency doing crazy stuff.
Bitcoin is conservative, you don’t want money to be like taking risks. It is not, I don’t think it is good to take the approach of build fast and break things with money when you…
Sydney Ifergan, the crypto expert tweeted: “Charlie Lee Litecoin (LTC) seems to not want to do crazy things with LTC. He is trying to ensure stability. No hurry to race head.”
Previously, Charlee Lee stated that fungibility and privacy were the main things he wanted to improve in Litecoin, when questioned about the progress in that regard, he replied.
Reportedly, they are working on adding MimbleWimble to add to what is missing about good money in Litecoin with extension plugs and this is something they have been working on…
Charlie Lee stated, “If that goes well, we will launch it soon after that and we will get it active and deployed on Litecoin.”
MimbleWimble is a technical integration that will add confidential transactions to the Litecoin Network.
When discussing hidden inflation and risks, he stated that with Litecoin and Bitcoin the ledger is transparent for public to see.
In case of privacy coins, the amount of coins that is being transacted is hidden and you can’t tell how many coins one holds and how many coins are transacted.