In an interesting tweet yesterday, Charlie Lee, the founder of Litecoin, indicated that Litecoin might be heading into a new direction in 2019. Confidential transactions might be a big focus for Litecoin this year! 

Charlie Lee turned to Twitter on Monday to announce that the Litecoin foundation has plans of implementing confidential transactions on the network to make Litecoin more fungible. The tweet from Charlie Lee:

Looking at the tweet, Lee states that fungibility is currently the only feature missing with both Litecoin and Bitcoin. Furthermore, the team at the Litecoin foundation explained how Confidential Transactions (CT) will work on the LTC network.

“While it’s not complete privacy, when spending coins parties no longer would have insights into how much the other owns, something very valuable for individual security as well as business operations.

CT is an optional parameter in transactions which means regulated bodies would still be able to deal in the asset so long as transactions made to and from them are clear and publicly viewable on the blockchain.”

For now, no release date has been given on when confidential transactions will be implemented. The only answer from Charlie Lee on Twitter about the timeline has been:

At the time of writing, LTC is trading at $31.14, down 0.51% over the past 24-hours, according to data from CoinMarketCap.


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