Charlie Lee “We want more fungibility and privacy in the Litecoin ecosystem”

Lee maintained that the bear market has given the network an opportunity to build more and push products out.
According to Lee, the network is looking at the ways to “add more fungibility into the Litecoin protocol.”

The founder of Litecoin, Charlie Lee recently spoke to NewsBTC in an exclusive interview where he shared the plans that Litecoin has, his comments on the bear market and cryptocurrency adoption among other things.

Lee maintained that the bear market has given the network an opportunity to build more and push products out because there are “fewer distractions.” According to the former Coinbase director of engineering, his network is looking at the ways to “add more fungibility into the Litecoin protocol.”

“So what we’re looking at now is doing a MimbleWimble extension block upgrade for Litecoin. So we’re doing a lot of research into that about how we could make such an implementation in a safe way. We want more fungibility and privacy in the Litecoin ecosystem.”

While commenting on the bear market, Lee said that the current downtrend is similar to other bear markets in the past but “One thing about this bear market, even though it’s been over a year now, is that it hasn’t been as bad for people.” He continued:

“I think we haven’t gotten to that point yet, and maybe we might not go there this time, which will be great. But I wouldn’t be surprised if there are more sell-offs, or if it takes a lot longer to climb out of it. It could be another year or so. But who knows? It’s hard to predict these things.”

Charlie Lee reckons that volatility is the one thing holding back crypto adoption. The volatile prices make crypto hard to use hence hindering adoption. “Volatility is kind of a chicken and the egg type scenario. Once there is adoption, volatility will decrease, meaning more adoption.”

Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram