The creator of Litecoin Charlie Lee declared that he is now mostly focused on making his major cryptocurrency more fungible in the next period and this is what we are reading today in our altcoin news today.
Lee tweeted that making the cryptocurrency more fungible is ‘’the only property of sound money that is missing from Bitcoin and Litecoin’’ while adding that the next war will be going on for privacy and fungibility.
He concluded in the tweet that he wants to focus on implementing private transactions by saying:
“I am now focused on making Litecoin more fungible by adding Confidential Transactions.”
When replying to another tweet in the same thread, Lee made clear that the confidential transactions could essentially be added to Litecoin through a soft fork. This means that a modification will be made in the cryptocurrencies’ source code that won’t lead to the division of blockchain as it happens with a hard fork.
Lee also noted that the update will be implemented sometime in 2019 but he was not precise with the date.
To make clear, fungibility means the property of money that implies that every asset’s unit has the exact same value as any other asset that has the same unit or it is from the same kind. Bitcoin’s fungibility, for example, has been questioned before because particular bitcoins became involved with criminal activity which can eventually lead to a decrease in value.
The privacy coins such as Zcash or Monero were created with a purpose to improve the perceived issues that Bitcoin and other major altcoins have such as low level of anonymity and fungibility.
Ethereum Price Increases By 13% Overnight, Is The Market In For Recovery?
“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
Bitcoin Goes Over $3,750 As Total Market Cap Rises To $126 Billion
Ripple (XRP) Loses Momentum – Possibly Because Of JPMorgan’s Crypto Spell
“If it turns out that the Blockchain/Coin framework turns out to be a good one for banks transferring money around, then the JPM Coin should absolutely obliterate Ripple."The arguments that the newly released JPMCoin (which will be pegged to the dollar ) could replace Ripple are still strong, stating that this is a huge slap for Ripple and its cross-border payments and remittances. Ripple's boss, Brad Garlinghouse, doesn't think so. As he tweeted: https://twitter.com/bgarlinghouse/status/1096118363506434048 Right now, it remains to be seen if Ripple is going to fight back in the short term. Besides that, it appears unlikely that another centralized stablecoin will do so much damage to XRP. The only bad scenario right now is that banks continue developing their own in-house solutions rather than working with XRP, which is kind of disappointing for Ripple and its business model.
Japanese e-Commerce Giant Rakuten With A New App That Will Probably Support Crypto Payments
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