David Schwartz stated, LTC Foundation Project Director, “Your relationships are like money. The more you try to grow them with intention & planning, the better the gains. Don’t waste them on folly and everyone benefits. Neither should be controlled by 1 person. To give is better than to receive. Counterfeits are easy to spot.”
He further went to the extent of stating, I am going to make it very simple for you. Money has a use case. Litecoin is money. LTC has a use case. He also stated, I want money that is free from fiscal policy, political manipulation, counterfeit activity, centralization, participating in advancing, 3rd party control, and free to use or not. He concluded stating, I want Bitcoin and Litecoin.
Sydney Ifergan, the crypto expert tweeted: “Litecoin (LTC) are making their advancements towards truly private transactions with the Mimble Wimble Update. Waiting for Wallet Capabilities in place. “
Though regulators do not like the idea of privacy in cryptocurrencies, investors are very much into crypto for the privacy it can provide the users with.
Litecoin (LTC) Towards Improving Privacy Features
Litecoin is powering several billions of dollars in worth of trade from all over the world every day. Decentralized commerce empowers customers and businesses in different levels to make it possible for them to transact without intermediaries. This eventually leads to lower fees and quicker transfer times. And, all of these while being secured by Litecoin’s multi-billion dollar network.
Of late, Litecoin is making its move to “privacy coins.” In a recent interview, Charlie Lee stated on how they are making a move to adopt key privacy enhancing features. Privacy is becoming an increasingly attractive feature for customers.
Charlie Lee recently stated, “I want to make it so that users don’t have to worry about giving up their financial privacy by using Litecoin,” Further stated, “Even if you’re not doing anything illegal, you don’t want people to know how much money you have or what your paycheck is.”
Lee also expressed “The analogy I like to use is it’s similar to wrapping and unwrapping the coin.”
If the effort wins, this is likely to bring in a lot of enthusiasm in the community. And, for long Litecoin has been considered to be a project with little or no momentum and that impression will change for good.
The new privacy upgrade from Litecoin is expected to provide the most needed pep for the community. The launch of the MimbleWimble testnet, which is the limited test version, now only accessible to developers, is all set for a mainnet launch in 2021.
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