The founder and Managing Director of Litecoin Foundation, Charlie Lee stated in an interview that one of the projects he is fascinated about is Monero (XMR). He seems to be enticed by its peculiar features being privacy and fungibility. He further stated that these features are not found in other digital currencies such as Bitcoin (BTC) and Litecoin (LTC), laying emphasis on its significance. He said:
“Another project that I’m interested in is Monero: I think a bit of privacy and fungibility is something that’s missing from Bitcoin and Litecoin, and it’s very much needed.”
Charlie Lee Interested in Monero Project
In August, Charlie Lee conducted a public poll as regards to what privacy protocol can be integrated into Litecoin. This is enough to assert that this is not the first time that the director would conceive the idea of privacy features in the crypto sector. During the public poll, Charlie Lee gave his respondents on Twitter three options, namely; Confidential Transactions, Mimble-Wimble and ZK-Snarks/ZK-Starks.
The result of the public poll, which had a large participation rate from within the Litecoin Community, shows that the ecosystem has been craving for a privacy feature. Confidential Transactions won the public poll with the highest percentage of votes (45%), the second being ZK-Snarks with about 21% of the votes and Mimble-Wimble at roughly 12%. However, about 22% of respondents indicated that they do not want privacy features added to the network.
Mystery of Coinhive
The community under Monero development recently agitated opposing the continuous occurrence of crypto-jacking utilizing the Monero cryptocurrency. The Monero’s mining software, coinhive has been conducive for the incident; though the team has promised to reduce cybercrime as much as possible.
There was a report that cybercriminals hacked the system in bulk which allowed them to secretly run coinhive in the background of website portals. There was another report of malware activities going as far as infiltrating even government sectors and university portals. Ultimately this is an issue that we all need to be aware of.